LIHTC Asset Management

Description

ROLE OVERVIEW

Advantage Capital is seeking an individual with low-income housing tax credit (LIHTC) experience to lead our growing asset management team.  Applicants must have working knowledge of LIHTC compliance requirements and full understanding of how to read and interpret operating and income statements. Applicants must also have the ability to independently interpret data, identify inconsistencies or noncompliance, and make recommendations to leadership. Responsibilities and duties include: 

KEY RESPONSIBILITIES

•Manage the team of asset managers and analysts that support both the federal and state LIHTC teams

•Responsible for assuring a clean transition of assets between the underwriting and asset management teams

•Track receipt of financial and operational information from lower tier partnerships on a monthly, quarterly and annual basis

•Expedite collection of overdue deliverables by contacting property owners and property managers

•Maintain and update data points in various spreadsheets and RealPage

•Analyze and interpret data collected from properties for compliance with internal metrics

•Prepare monthly, quarterly and annual reports to leadership 

•Assist in developing reports related to property performance

•Review tenant files to determine compliance with LIHTC program requirements

•Perform site visits, as requested

•Assist in the gathering and review of documentation necessary to release equity installments

•Analyzing lease up data to determine initial year credits

•Reviewing/analyzing documentation supporting capital contribution installments and making recommendation as to whether benchmarks have been met – including debt service coverage ratio, stabilization, and economic/physical occupancy calculations.

•Other tasks as directed. 

SKILLS AND REQUIREMENTS

•5 + years of relevant work experience in LIHTC asset management, prior management experience a plus

•Knowledge of the federal and state LIHTC programs and partnership structures

•Ability to maintain a big-picture focus while handling detailed work

•Proficient computer skills: including the ability to understand and maintain financial models in excel

•Excellent verbal and written communication skills

•Strong organizational skills and attention to detail

•Exceptional prioritization skills - must track and manage multiple tasks and meet deadlines

•Ability to work effectively in a team environment with a positive attitude and strong work ethic

QUALIFICATIONS

PREFERRED SKILLS 

•5+ years previous affordable housing experience in asset management, property management with emphasis in compliance oversight.

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