Job Description

The Asset Manager is responsible for overseeing the operational, financial, and regulatory performance of a portfolio of affordable housing properties. Working closely with property management, finance, facilities, and compliance teams, this role ensures properties operate efficiently, remain in compliance with all funding and regulatory requirements, and align with organizational goals. The Asset Manager analyzes financial performance, supports budgeting and cost management, leads annual property reviews, and provides clear, data driven insights to leadership and the board, while also advancing sustainability, risk mitigation, and continuous improvement across the portfolio.

ESSENTIAL JOB FUNCTIONS:

Collaboration and Continuous Improvement:

• Work cross-functionally with Finance, Facilities, and Compliance to align site operations with organizational goals.
• Support training and capacity-building for site staff in budgeting, reporting, and performance monitoring.
• Participate in organizational initiatives aimed at improving operational systems.

Operational and Financial Performance:

• Partner with property management, finance, and accounting to set and monitor annual operating budgets.
• Review property financials monthly, analyzing variances and identifying trends or areas requiring intervention.
• Lead annual property performance reviews, documenting key takeaways and recommendations.
• Provide narrative and data-driven insights.

Compliance and Contract Oversight:

• Monitor HUD, MassHousing, and other subsidy contract terms, as well as rent increase opportunities.
• Ensure timely renewals, submissions, and responses to requests from funders or regulatory agencies.

Cost Management and Risk Mitigation:

• Identify and lead real estate tax abatement or exemption efforts to reduce expenses.
• Monitor and support utility rate management to ensure properties receive the most cost-effective energy pricing available.
• Evaluate capital reserve and risk exposures.
• Coordinate property insurance claims.

Sustainability and Energy Management:

• Use benchmarking systems to track and analyze energy and water consumption, identifying opportunities for reduction and savings.
• Address short-term utility or mechanical issues and develop long-term sustainability strategies.
• Identify and pursue sustainability grants or incentive programs.
• Ensure compliance with local environmental and sustainability reporting requirements (e.g., BERDO, City of Newton).
• Stay informed of emerging energy regulations and collaborate with Facilities on implementation strategies.

OTHER DUTIES AND RESPONSIBILITIES:

• Prepare monthly board report/dashboard.
• Create and maintain deal books for all properties.

PREPARATION, KNOWLEDGE, SKILLS & ABILITIES:

• 3+ years of experience in affordable housing asset management, property management, real estate finance, or a related field.
• Working knowledge of LIHTC and affordable housing finance, including compliance and reporting requirements.
• Strong financial and analytical skills, including budget-to-actual analysis, cash flow review, and property-level KPIs.
• Demonstrated experience managing asset-level data, dashboards, or reporting systems with accuracy and consistency.
• Ability to maintain and interpret portfolio documentation, including financing structures, regulatory agreements, and compliance requirements.
• Proficiency in Excel and comfort working across financial and property management systems.

BENEFITS AND MORE:

We offer a very rich benefits plan, with 27% added to base pay for individuals and over 30% for employees +1 and their families. Our rewards program includes, but is not limited to:

• Robust medical and dental plan.
• Vision.
• Employer-paid life and AD&D, STD, and LTD insurance.
• 401(k) plan.
• Paid vacation.
• Paid holidays.
• 2 floating holidays.
• Pet insurance.
• And more!

2Life Communities provides superior housing to older adults of all backgrounds who can thrive independently within a supportive environment. We are a mission-driven organization with a vision whereby all older adults have the opportunity to age in the community – to live a full life of connection and purpose in a dynamic and supportive environment. We are continually evolving support services to meet the needs of our diverse residents as they age; we partner with health care providers to identify innovative ways to support residents’ overall health and well-being, and we engage with the broader community through our Village Center program. We have five campuses in metropolitan Boston and plans for additional housing for older adults soon.

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