Homeowner’s Rehab, Inc. (HRI) seeks a Director of Asset Management to oversee the management of our multi-family apartment portfolio which includes low, moderate, and market rate housing as well as commercial space. HRI is a private nonprofit affordable housing developer located in Central Square, Cambridge. Since 1972, HRI has developed over 1,500 units of housing, and currently owns over 1,600 apartments and more than 55,000 square feet of commercial space. All of HRI’s owned property is managed, under contract, by Wingate Management In addition to its real estate development, HRI also operates a rehab loan program for low to moderate-income Cambridge homeowners and a vibrant Resident Services Program for the residents of our portfolio.
This position reports to the Executive Director. HRI staff work as a team, and so the Director of Asset Management will work closely with other staff, including HRI’s housing development, resident services, and renovation staff.
Oversight of the portfolio, its operations, its financial condition, and the work of the property management agent:
Develop annual benchmarks and monitor and evaluate portfolio performance against those measures and the market; identify problem areas and generate solutions.
Ensure regular reporting to senior staff, board, and funders re: properties’ performance and regulatory
Assist with annual property budgeting in conjunction with property management personnel.
Oversee the property managers’ leasing and renewals of vacant commercial space and approve tenant fit-out in commercial spaces.
Manage annual property tax abatement/exemption requests and insurance purchasing.
Oversee third party management contracts and the property audits.
Work with resident services staff and service providers to deliver quality services to residential properties.
Working with other HRI staff and consultants, as needed, oversee property long-term planning, upgrading and refinancing:
Manage capital needs of the portfolio, including obtaining CNAs and timely implementation of capital
Assist with refinancing and restructuring of existing low-income housing tax credit and other properties.
Assist in grant writing and other funding proposals.
Assist in the design and implementation of HRI’s Green Strategy for the portfolio, in conjunction with energy specialists on the staff.
Working knowledge of affordable housing subsidy programs,
Experience in restructuring/ financing of low-income housing tax credit properties,
Proficiency in analyzing financial data and legal documents,
Proficiency in using Excel, Access, and/or other financial software, and
Strong writing and verbal communication skills.
A. required; course work in accounting and finance and/or MBA degree preferred.
Consortium for Housing and Asset Management (CHAM) certification preferred.
At least five years’ experience in real estate field with at least two in asset management.
Property management or construction oversight experience helpful.
HRI is a private nonprofit affordable housing developer located in Central Square, Cambridge. Since 1972, HRI has developed over 1,500 units of housing, owns over 1,600 apartments and more than 55,000 square feet of commercial space. In addition to its real estate development, HRI also operates a rehab loan program for low to moderate-income Cambridge homeowners and has a vibrant Resident Services programs for the residents of our portfolio. HRI is a national leader in sustainability and energy conservation.