Job Description

Montgomery Housing Partnership (MHP) is seeking a DIRECTOR OF ASSET MANAGEMENT to manage MHP’s asset management department.

Who we are: MHP is an active and growing nonprofit organization, founded in 1989, that develops, acquires, rehabilitates, and builds quality homes to meet the growing need for affordable housing in Montgomery County and neighboring communities. MHP’s community-based projects and programs include providing affordable rents, developing educational programs for residents to develop skills that expand their opportunities and balance their lives, and implementing neighborhood revitalization efforts in communities impacted by economic challenges and mass transit construction.

Job Summary: The Director of Asset Management is responsible for overseeing the asset management department of MHP. The position includes consulting on asset acquisitions and dispositions, developing property management standards of performance. The Director will work closely with the Chief Financial Officer on refinancing properties, prepare reports for the Board, overseeing operating budgets analyzing tax bills and managing the long-term capital needs of properties. The Director oversees and manages the Asset Managers.

Primary Responsibilities:

• Consult on acquisitions, rehabs and ground-up deals, review pro-formas and loan documents, attend multi-family meetings and Deal Committee meetings.

• Develop standards of performance for property management company and attend monthly meetings.

• Assess opportunities for refinancing in coordination with CFO.

• Consult on disposition of assets.

• Analyze portfolio performance and develop strategies for performance improvements.

• Prepare reports for Board on the properties’ performance.

• Oversee the preparation of annual operating budgets.

• Review and plan the long-term capital needs of the properties.

• Analyze tax bills and appeal assessments as appropriate; monitor PILOT agreements.

• Share the inspection of the properties with MHP Asset Managers for proper upkeep and visual appearance, normally on a quarterly basis.

• Develop policies and procedures regarding asset management and property management.

• Review the signing of compliance reports, utility allowance requests, as well as various other contracts.

• Work on grant applications, as appropriate, and provide data for NeighborWorks quarterly production report, annual report, and organizational underwriting.

• Supervise Asset Managers.

Qualifications:

• Bachelor’s degree in a related field, with at least 5 to 7 years of direct experience with property and asset management.

• Familiarity with property management principles and have ability to read and analyze financial reports and budgets.

• Knowledge of affordable housing programs such as Section 42 Low Income Housing Tax Credits, HUD Project Based Section 8 and Tenant Choice Voucher program.

• Basic knowledge of building types, building construction and maintenance.

• Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands, and meet deadlines.

• Excellent interpersonal skills with ability to oversee and interact with property management companies and residents.

• Strong written and oral communication skills.

• Attention to detail and capacity to adapt to a variety of situations in a professional and diplomatic manner.

• Ability to work independently, but also as part of an overall team.

• Strong computer skills, particularly with Microsoft Office Suite (Word, Excel).

• Ability to conduct physical inspections of properties, including walking up and down stairs.

Compensation: Salary will be based on applicable experience, with range of $125,000 - $150,000 annual equivalent. MHP offers a comprehensive benefits program, including healthcare, life/disability insurance, 403(b) retirement matches, and generous paid time off.

Application Process: To apply, please submit your cover letter and resume, with salary requirements, to stacy.johnson@maggiorehr.com. Please include the job title “ Director of Asset Management ” in the subject line of your email.

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