Do you have a heart to improve housing conditions by eliminating threats to life, health, and safety? Do you have a passion for serving low-income elderly, veterans, disabled, single-parent, and large family households in Asheville and Western North Carolina? Do you value diversity, equity, and inclusion and can you demonstrate this professionally and personally? Are you the next Asset Manager at Mountain Housing Opportunities (MHO)?
MHO continues to expand and improve its services to meet the critical needs of the residents of Asheville and Buncombe and surrounding counties. MHO knows that more than 20,000 households in Western NC struggle to afford a safe, attractive home in a good neighborhood, and that more than 45% of people of color face housing insecurity. MHO serves more than 1,500 households each year and builds an average of more than 80 new homes annually. Now MHO seeks an Asset Manager to join a dedicated team and help achieve the organization’s strategic vision.
What will you do as MHO’s Asset Manager?
MHO’s asset management team is responsible for the long-term ownership interest in a strong portfolio of affordable apartment communities and commercial developments. The portfolio includes 29 residential properties with 1,346 units, a 9,060 square-foot commercial property, and ownership interest in three mixed-use condominium associations.
The Asset Manager will be accountable for the active and strategic pursuit of the long-term goals and objectives of a portfolio of specific properties. The long-term goals focus on mission impact, financial and physical sustainability, and maintaining positive relationships with property funders and regulatory agencies. The Asset Manager reports to the Director of Asset Management.
Specific performance accountabilities include, but are not limited to the following:
• Oversee a portfolio of 18 to 20 residential and commercial assets.
• Ensure optimal fiscal, physical, and mission-driven operation and performance of each property through development, execution, and revision of strategic property plans.
• Ensure positive financial planning through review, approval, and analysis of annual operating budgets.
• Monitor ongoing property performance against established benchmarks, operating trends, market forces and initial projections.
• Identify and positively resolve problems related to watch list properties.
• Monitor, analyze, and report on audited financial statements, current and historical financial performance, and program compliance.
• Conduct periodic market research to maintain an understanding of rental market in which each property is located.
• Monitor and understand the physical condition of each property.
• Develop and implement multiyear capital improvement plans in cooperation with third-party management company.
• Monitor replacement reserve levels for coverage of short and long-term capital improvement needs.
• Monitor and effect fulfillment of contractual and regulatory obligations outlined in loan, partnership, and other regulatory agreements.
• Ensure all reports for limited partners, lenders, funders, and others are prepared and submitted as required.
• Identify needs and opportunities for and effect workouts, repositioning, debt restructuring and refinancing, and limited partner exits.
• Monitor and report on mission-driven goals for each property.
• Ensure incentive management fees, deferred developer fees, owner loans and advances, and cash flow distribution payments are made to the parent corporation in a timely manner.
• Ensure long-term sustainability of new developments, acquisitions, and rehabilitation projects through informed contributions to project planning.
• Monitor quality of third-party property management through review of performance against property management contracts and management plans, property financial reports, regulatory compliance, and resident satisfaction surveys.
• Other duties as assigned.
Mountain Housing Opportunities (MHO) is a nonprofit housing and community development organization serving principally Asheville, Buncombe County, and other areas of western North Carolina. Our mission is to build and improve homes, neighborhoods, communities, and lives, and to build hope and dignity in the people we serve. We believe that if you work in this community, you should be able to live here in a safe, attractive affordable home in a good neighborhood, and when you retire or if you become disabled, this should still be true.
MHO produces over $15 million each year in affordable and workforce housing development, apartment leasing and management, home lending, housing preservation in the form of Emergency Home Repairs for low-income homeowners, and neighborhood revitalization. Since our founding in 1988, MHO has helped over 7,000 households and now serves more than 2,000 people each year in our combined programs.
The foundation of MHO’s core values is diversity, equity, and inclusion. MHO’s commitment to this foundation is unwavering, across all of our work. These principles are central to our mission and to our impact. We know that having varied perspectives helps generate better ideas to solve the complex housing problems of a changing and increasingly diverse world. With that and with leadership support from the NeighborWorks of America, a national network of housing and community development organizations, MHO is working to build on our positive record of diversity, equity, and inclusion by incorporating DEI principles and practices in all areas of MHO operations, programs, hiring and human resources, training, promotions, contracting, management, and governance. MHO looks forward to a new team member who can join this continued effort.
Want to know more? Visit MHO’s website at www.mtnhousing.org.
Key lived experiences, attributes, and skill sets sought in the Asset Manager
● Working knowledge of housing programs and at least three years of Asset Management experience for a nonprofit organization or equivalent experience; knowledge of finance, accounting, property management and development preferred.
● Ability to demonstrate compassionate service with diverse individuals from all walks of life, including, but not limited to, race, income, age, and ability.
● Strong interpersonal skills required to relate to renters, partners, and colleagues. Ability to work well in a collaborative environment.
● Demonstrated appreciation of the mission and work of Mountain Housing Opportunities.
● Demonstrated ability to think strategically and thorough understanding of strategic development.
● Must be self-motivated, results oriented, have ability to learn new things, and able to set priorities and work on numerous projects simultaneously.
● Excellent interpersonal, organizational, communication (both verbal and written), analytical and negotiating skills.
● High energy, positive "can-do" attitude, curiosity, flexibility, teamwork, and attention to detail; high degree of initiative. Good sense of humor.
● Open to becoming certified in Asset Management in first two years.
● Proficient with computer skills and knowledge of Microsoft Excel.
Think you are MHO’s Asset Manager?
To apply, click on the link to the Asset Manager position profile at ArmstrongMcGuire.com/jobs. You will see instructions for uploading your compelling cover letter, resume and salary requirements. Please provide all requested information to be considered. In case of any technical problems, contact email@example.com. No applications will be accepted by email or directly from third-party posting sites. Review of candidates will continue until the position is filled.
Salary is commensurate with the requirements of the position with a salary range of $65,000 to $75,000. Relocation assistance is available. Benefits include health, dental, and life insurance, short-term disability, 403(b) retirement plan, 11 paid holidays, and accrued vacation and sick time.