The primary purpose of this position is to assist the Housing Authority of the City of Greenville (TGHA) and its subsidiary organization, Greenville Redevelopment Corporation (GRDC), with acquiring, developing, rehabilitating, and operating multi-family housing with a goal of preserving and developing sustainable affordable housing. The incumbent ensures the achievement of property-level goals that maximize the performance of TGHA/GRDC’s portfolio. The Director of Asset Management is responsible for analyzing portfolio performance, identifying trends, and implementing strategies to ensure sustainability of property performance and asset value while maximizing income available to TGHA/GRDC and its affiliates.
All activities must support The Greenville Housing Authority’s (“TGHA” or “Authority”) mission, strategic goals, and objectives.
Essential Duties and Responsibilities
The position duties and responsibilities listed below describe the general nature and scope of work. Other responsibilities, duties, and skills may be required and assigned, as needed.
Maintains in-depth familiarity with assigned portfolio of properties, including ownership structure; underwritten investment objectives; financing structure (including maintenance of relationships with various lenders, as needed); management structure (including maintenance of relationship with third-party management agents); guarantor structure; underwritten and actual operating results; LIHTC, state, Authority, and/or HUD regulatory requirements and compliance.
Manages the financial and physical performance of a portfolio of over 500 units of multi-family housing (including oversight of third party fee management and collaboration with developers and resident services managers).
Oversees portfolio performance through ongoing monitoring of operations, financial management, regulatory compliance, and budgetary compliance for all assigned assets, continually comparing actual asset performance to underwritten expectations.
Evaluates economic, demographic, and multifamily market trends and benchmarks data against assigned portfolio.
Analyzes property financial performance and formulates property level strategies, goals, and policies that will maximize property cash flow and portfolio performance.
Reviews and analyzes financial and operational information along with reports provided by partners on a monthly, quarterly, and annual basis.
Conducts monthly analysis of the financial performance of assigned real estate assets and provides recommendations on strategies to ensure the continuous flow of net operating income and cash flow.
Conducts short and long-term analyses on historical financials, projected operating cash flows, reserve needs, as well as cost benefit analyses. Provides reports to TGHA leadership as requested.
Acts as primary contact for internal and external stakeholders, partners, and investors. Develops and maintains relationships with partners, management agents, lenders, contractors, third-party monitors, investors, local and state housing agencies, and others in the industry to ensure the flow of current and relevant information. Meets with investors, third party agents, and partners as required to discuss portfolio performance
Performs periodic on-site inspections of all properties in assigned portfolio, focusing on physical condition, local market conditions, overall property administration, and continued program compliance.
Directs the administration of the Operating Cost Adjustment Factor (OCAF) rent increases and rental subsidy agreements to include Project Based Voucher contracts, Rental Assistance Demonstration contracts, Housing Assistance Payments, etc.
Creates and maintains HUD-required statistical reports. Monitors preparation of reports and applications to HUD to ensure that documents contain updated, accurate information pertaining to Authority programs.
Reviews all eviction files for approval to proceed to the appropriate court for all TGHA properties.
Reviews and approves all write-offs for uncollectable balances due in the vacated tenant accounts.
Assists in documentation and ensures implementation of new policies for the Asset Management function. Develops and maintains Asset Management Compliance, Compliance Best Practices, and Policy & Procedure Manual.
Directs management and tracking of portfolio activity and performance.
Works across functional areas to improve alignment of performance of portfolio to annual and strategic goals.
Manages and maintains effective relationships with government regulatory groups and private investors.
Develops and maintains a strong local affordable housing network.
Stays abreast of any changes in fair housing.
Plans and conducts internal compliance audits on all TGHA/GRDC’s owned and managed properties.
Coordinates TGHA/GRDC’s preparation and monitors activity of MOR, LIHTC, and all other external compliance audits.
Oversees, tracks and analyzes property management performance, including:
Conducts monthly review of operating statements and narratives;
Conducts monthly performance against property and portfolio-level goal;
Conducts monthly reviews of tenant accounts receivables, vacancies, evictions, rent concessions, adjustments to tenant accounts, and all other agreements; and
Communicates TGHA/GRDC’s goals and policies to property management.
Completes other related duties as assigned.
This position requires the incumbent to exhibit the following behavioral skills:
Job Knowledge: Exhibits requisite knowledge, skills, and abilities to perform the position effectively. Demonstrates knowledge of policies, procedures, goals, objectives, operational entities, requirements, and activities as they apply to the assigned organizational entity of the Authority. Uses appropriate judgment & decision making in accordance with level of responsibility.
Commitment: Sets high standards of performance; pursues aggressive goals and works hard/smart to achieve them; strives for results and success; conveys a sense of urgency and brings issues to closure; persists despite obstacles and opposition.
Customer Service: Meets/exceeds the expectations and requirements of internal and external customers; identifies, understands, monitors and measures the needs of both internal and external customers; talks and acts with customers in mind. Recognizes work colleagues as customers.
Effective Communication: Ensures important information is passed to those who need to know; conveys necessary information clearly and effectively orally or in writing. Demonstrates attention to, and conveys understanding of, the comments and questions of others; listens effectively.
Initiative:Proactively seeks solutions to resolve unexpected challenges. Actively assists others without formal/informal direction. Possesses the capacity to learn and actively seeks developmental feedback. Applies feedback for continued growth by mastering concepts needed to perform work.
Responsiveness and Accountability: Demonstrates a high level of conscientiousness; holds oneself personally responsible for one's own work; does fair share of work.
Teamwork: Balances team and individual responsibilities; exhibits objectivity and openness to others' views; gives and welcomes feedback; contributes to building a positive team spirit; puts success of team above own interests; supports everyone's efforts to succeed.
Leadership: Provides direction by clearly and effectively setting course of action for department and subordinates; manages performance by providing regular feedback and reinforcement to subordinates.
Knowledge of the general operations and procedures of TGHA departments, properties, and HUD housing programs.
Knowledge of Generally Accepted Accounting Principles (GAAP) and auditing theory; local, state, and federal government financial reporting requirements and regulations; internal control policies and best practices; and report preparation techniques.
Basic knowledge of real estate legal documents and financial accounting.
Skill in operating computer accounting systems, spreadsheet applications, and other applications and software. Proficient in Microsoft programs such as Word, Excel, PowerPoint, MS Projects and other programs.
Ability to accurately and rapidly compose effective correspondence, to make moderately complex computations accurately.
Ability to present ideas in a clear and concise manner, in English, both orally and in writing.
Ability to handle multiple priorities and complete tasks efficiently and effectively. Demonstrated project management capabilities.
Ability to establish and maintain effective working relationships with co-workers, vendors, consultants, contractors, community representatives, prospective and present funders, residents, HUD, and local, state, and federal officials.
Ability to interpret HUD, federal, state, and local laws and regulations, as well as TGHA policies and procedures related to the position.
Education and/or Experience
Bachelor's Degree in real estate, business administration, finance, public administration, urban planning, or a related field and a minimum of five (5) years of experience in public or private sector real estate development, multifamily housing development, or urban planning, with a minimum of two (2) years in a managerial or director capacity. Experience in related fields such as legal, accounting, property management, multifamily lending, or investing considered. An equivalent combination of education and experience may be considered.
Some positions may require possession of a valid driver’s license and the ability to be insurable under the Authority’s automobile insurance plan at the standard rate.
To perform this job successfully, the employee should have strong computer skills (e.g. MS Word, Excel, PowerPoint, and Outlook). Must have the ability to learn other computer software programs as required by assigned tasks.
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
To perform this job successfully, the employee is frequently required to remain in a stationary position. Daily movements include sitting; standing; reaching and grasping; operating computers and other office equipment; moving about the office; and attending onsite and offsite meetings. The employee must be able to exchange information in person, in writing, and via telephone. The employee must occasionally transport up to 25 pounds.
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Office environment. The noise level in the work environment is moderate.
About Greenville Housing Authority, SC
The Housing Authority of the City of Greenville, SC (also known as TGHA) owns and/or manages a real estate portfolio of four traditional Public Housing communities with 254 units (currently in the process of a portfolio Rental Assistance Demonstration Conversion); five Mixed Finance/LIHTC communities consisting of a total of 472 units; and five Tax Credit only community of 286 units. The Mixed Finance communities include Public Housing, Project Based Section 8 assisted units, and Tax Credit units. In addition to these multi-family rental communities, TGHA administers 2,780 tenant-based vouchers; a homeownership program; and a rental assistance program for homeless veterans. TGHA also administers a multitude of resident support and service programs under various HUD and non-HUD grants.