Operating Property Asset Manager

Job Description

Affordable Equity Partners, Inc. (AEP), founded in 1997, is a financial resources company that provides a full range of services for developers and investors in the Section 42 LIHTC Program. Having more than 500 tax credit developments, AEP has syndicated over $5 billion in federal and state tax credits. AEP has never had a foreclosure or credit recapture and maintains a reputation of unparalleled service before, during and after the investment.

LOCATION - Atlanta, GA

SCHEDULE - Initially in office Mon-Fri....can move to hybrid after training period.

The Operating Property Asset Manager (OPAM) is the owner’s day-to-day point person for a portfolio of stabilized LIHTC properties. The OPAM drives operating performance, ensures continuing LIHTC and lender compliance, manages reserve draw requests and capital projects, oversees leasing & marketing execution to maximize revenue/NOI, prepares quarterly investor commentary and budgets, and coordinates refinancings or dispositions with Portfolio Management. The OPAM also maintains the AHIC Operating Property Risk Ratings in MRI, leads responses to third-party inspection findings and 8823 notices, and partners closely with Compliance, Property Management, Accounting, Legal, and Investor Relations.

Role Overview:
The Operating Property Asset Manager (OPAM) at Affordable Equity Properties (AEP) is responsible for the day-to-day oversight and performance of a portfolio of stabilized LIHTC (Low-Income Housing Tax Credit) properties. This role is pivotal in ensuring asset value, compliance, and operational excellence across the assigned portfolio.

Key Responsibilities

• Own monthly/quarterly property performance: evaluate P&L, occupancy, rent variance vs. budget, concession usage, utility expense trends, and prepare action plans to correct variances.
• Develops and implements action plans to address variances and ensure properties meet or exceed underwritten expectations.
• Ensures LIHTC compliance is maintained working with the Compliance team.
  • Prepares quarterly investor commentary and ad-hoc updates.
    • Updates AHIC Operating Property Risk Ratings in MRI software.
    • Ensures a clean audit trail for inspections, reserve draws, and capital projects.
    • Manages reserve draw requests, validates eligibility, and oversees capital projects from scoping to completion.
    • Ensures timely and on-budget delivery of capital initiatives and closure of third-party inspection findings.
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      • Oversee leasing and marketing strategies to maximize rents while maintaining target occupancy: evaluate rent comps, make recommendations on concessions, lease terms, and staffing changes; approve marketing expenditures and track results.
      • Supports refinancing and disposition efforts by providing accurate operating histories, capital projections, and compliance documentation.
      • Champions process improvement and the adoption of AI/automation tools to enhance reporting, compliance, and portfolio monitoring.

Performance Measures (KPIs)

• Occupancy, Total Revenues and Net Operating Income (NOI).
• Timeliness and quality of capital project delivery.
• Accuracy and timeliness of investor reporting.
• Compliance response rates and cure timelines.

Qualifications

• Bachelor’s degree in Real Estate, Finance, Business, Construction Management, or related field (or equivalent experience).
• 4–7 years of experience in multifamily asset management or affordable housing, with financial analysis and LIHTC program knowledge.

Experience with MRI or similar asset management systems, Excel and comfort with automation/AI tools is preferred.