Asset Manager - Pre-Stabilization

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Position: Asset Manager – Pre-Stabilization

COMPANY: VITUS www.vitus.com

LOCATION: Seattle, WA (on site)

REPORTS TO: Associate Director – Pre-Stabilization

SALARY RANGE: $90,000 - $105,000

Vitus is a privately held real estate development and portfolio management firm focused on affordable housing.

POSITION SUMMARY

Reporting to the Associate Director – Pre-Stabilization, the Asset Manager manages assigned affordable housing communities through rental achievement and stabilization, serving as Vitus’ primary contact for property operations and partnership compliance. The role oversees operating performance, third-party property management, cash forecasting, and financial and compliance reporting while helping protect Vitus’ investments and ensure communities are maintained in decent, safe, and sanitary condition. This is a hybrid position based in Seattle, WA.

POSITION SPECIFIC RESPONSIBILITIES

·        Manage property operations for an assigned portfolio through rental achievement and stabilization; analyze performance against models and budgets and identify opportunities to maximize net operating income.

·        Oversee third-party property management agents, including participating in agent selection and reviewing the performance of existing agents.

·        Oversee the physical condition of the portfolio and coordinate REAC preparation, immediate-needs repairs, unit turns, and inspections.

·        Track occupancy, annual rent increases, and rent collection; identify and escalate issues with tenant files or income compliance.

·        Develop, manage, and monitor pre-stabilization budgets and cash forecasts; identify trends and opportunities for economies of scale.

·        Coordinate regular financial and compliance reporting and monitor adherence to loan documents, regulatory agreements, and other project documents.

·        Work to support compliance with bond, tax credit, HUD, partnership, lender, and other applicable requirements.

·        Monitor resident relocation, LPA milestones, and other construction-period activities.

·        Conduct biannual site visits to each property in the assigned portfolio, at a minimum.

POSITION SPECIFIC EDUCATION, KNOWLEDGE, AND SKILLS

REQUIRED

·        Bachelor’s degree or equivalent work experience.

·        Ability to travel up to one week per month for site visits to each property in the assigned portfolio.

·        Strong organizational skills and the ability to coordinate complex activities, prioritize competing demands, and meet deadlines.

·        Highly motivated, able to work independently, and skilled at solving problems in a fast-paced environment with multiple priorities.

·        Strong written and oral communication skills and the ability to collaborate effectively with internal and external partners.

·        Demonstrated integrity and sound judgment in professional and interpersonal relationships.

·        Strong computer skills, including thorough knowledge of Outlook, Excel, and Word.

PREFERRED

·        Affordable housing, real estate, finance, or property management experience.

·        Knowledge of real estate terminology and concepts, with strong financial analysis skills.

·        Familiarity with Yardi Voyager and/or other accounting platforms.

·        Working knowledge of Section 42 and HUD regulations or programs, and regulatory agreements.

BENEFITS

Vitus offers a very generous suite of benefits to our staff:

·        Medical, dental, and vision coverage (100% coverage for staff members and partial coverage for dependents)

·        Basic life and employer-funded long-term disability

·        Health Savings Account

·        Flexible Spending Account

·        Commuter benefits

·        Wellness benefit

·        401(k) with employer match

·        Four weeks of paid time off and approximately 15 paid holidays

·        Competitive salary and annual bonus opportunities for all positions