Berger Rental Communities is searching for a seasoned Asset Manager to join our team in Wayne, PA. This seasoned Multi-family professional will join a growing and thriving organization. The Asset Manager is responsible for achieving the owner’s goals and objectives through oversight, streamlining processes, deciphering financial data and analysis of property efficiencies while identifying opportunities for improved performance
Primary Duties and Responsibilities:
Acquisitions and Dispositions
Assist in pre-acquisition input, evaluation of the market (including completing an independent rent analysis) underwriting, due diligence (including inspection of apartments and overall asset), third party inspections, lender request and partner requests.
Draft the acquisition plan and proforma.
Draft the acquisition and property reposition plan and monitor the operations transition for the first 12 months’ post-acquisition.
Aid in the asset disposition process by coordinating delivery of due diligence materials and settlement.
Manage the Company’s Director of Capital Improvements
Monitor significant capital improvements progress, timeliness, and expense compared to budget.
Assist with the development of five year capital budgets including specifications for significant capital projects.
Review and monitor capital reserves for each asset to ensure sufficient reserves for future capital needs.
Identify, analyze and work with Operations to recommend capital enhancement opportunities to add value. Monitor the investment returns of the capital enhancement.
Prepare monthly reporting to Investors and be the point of contact to address investor inquiries and provide property highlights.
Monitor asset cash flow and recommend quarterly cash distributions in accordance with Owner’s operating agreements.
Analyze financial performance and models to evaluate (based upon historical comparison, industry benchmarks, and underwriting expectations) asset’s investment values and returns.
Review and analyze monthly property financial statements and overall financial performance of investments. Conduct various analyses of accounting reporting, models, budgeting, real estate taxes, risk management, etc.
Oversee property and general liability insurance claims and monitor status
Work with operations and accounting team to provide guidance and final approval for yearly operating budgets for all assets with particular focus on comparison with historical and industry benchmarks as well as investment returns, lender requirements (DSC), and cash flow.
Develop and lead revenue-enhancing and expense containment initiatives to drive operational excellence and enhance value of asset.
Monitor portfolio utilities and energy consumption with a focus towards problem-solving and energy saving / cost reduction initiatives.
Conduct routine meetings with property management and leasing to discuss asset-level strategies and operational issues.
Perform property visit and inspect properties with particular attention to curb appeal, liability risks, and future capital enhancements.
Complete independent market surveys and a rental rate analysis to ensure property’s rents are in line with the market.
Special projects (either property level or capital structure) that adversely affect cash flow and, potentially, require communication with investors.
Work independently with minimal supervision
Ability to thrive in an environment that is highly entrepreneurial, both strategic and creative, and which requires rapid learning, multitasking and prioritizing.
Bachelor’s Degree preferably with a concentration in Real Estate, Finance, or Business-related degree (advanced degree preferred but not essential)
3-5 years of relevant experience in multi-family asset management
Proactive thinking with detail-oriented and creative problem solving approach, with the ability to step back and understand the “big” picture.
Must possess an entrepreneurial and customer-service driven approach to asset management
Strong analytical skills and quantitative skills and highly skilled in financial analysis.
Understanding of accounting procedures and financial reports with ability to analyze variances.
Proficiency with Microsoft Office suite, with excellent proficiency in Excel.
Able to read, analyze, and interpret complex business documents including leases, financial reports, and contracts.
Demonstrated ability to identify errors, problems and opportunities.
Demonstrated problem solving, decision making, and continuous process improvement skills.
Able to work proactively, independently and as a strategic partner in a team environment.
Ability to effectively communicate and work with various departments within the Company.
Effective presentation and communication skills, both verbal and written.
Highly-organized, detail-oriented, motivated, and able to multi-task effectively in a deadline driven environment while maintaining strict attention to detail.
Experience with Realpage is desired but not required.
Berger Rental Communities is committed to providing you with unmatched personalized care, service and attention. We treat our residents like family. It's no wonder, then, that so many people call Berger Rental Communities home! After all, we offer you more than just apartment rentals. We offer residents the chance to relax and get back to living. Our team of dedicated property management professio...nals strives to continuously improve the living experience and overall satisfaction of each member of the apartment communities we serve. With this in mind, our friendly, helpful staff examines every facet of our operations to ensure that no detail is overlooked and no opportunity to improve our resident services on your behalf is ever missed.