ASSET MANAGEMENT JOB RESPON SIBILITES

Monitor, coordinate and oversee the financial, physical and regulatory operations of the
assigned portfolio/properties by:

1. Overseeing property management and service providers to ensure optimum property

and unit performance:
• Monitor and track occupancy levels, review leasing incentives and comparable units
to maintain a continued awareness of market trends;
• Provide assistance to property management firms in identifying and resolving
occupancy issues; and
• Recommend property management or service provider corrective action as needed.

2. Monitoring the financial status of assigned properties/portfolio:

• Develop and compile property operating budgets;
• Review property monthly reports and financial statements, analyze performance
against budget, research variances, recommend and implement operational changes
to meet performance objectives;
• Trend property performance within the context of the marketplace and other
comparable properties, compare future property projections with past performance,
review and approve utility increases, and review rent comparability reports;
• Calculate exit tax projections and coordinate with accounting on capital account
tracking for Low Income Housing Tax Credit (LIHTC) properties; and
• Identify and implement opportunities for refinancing.

3. Overseeing the physical condition including maintenance and capital needs of assigned
properties/portfolio:
• Review and monitor property curb appeal;
• Track maintenance issues and ensure they are resolved in a timely, cost effective
manner; and
• Budget, assess, schedule, and coordinate capital improvement and/or maintenance
requirements.

4. Responsible for disposition and repositioning planning as needed:

• Develop and implement plans for major programmatic or structural changes for
assigned properties that are under performing, including disposition, change in
ownership structures, reinvestment, or debt restructuring, as needed; and
• Manage and execute Limited Partnership exits at Year 15 for LIHTC properties.

5. Managing property/portfolio risk management and compliance activities:

• Monitor, interpret and implement changes in regulatory requirements for funding
programs; coordinate and ensure completion of annual compliance reports, contracts
and related documentation;
 • Conduct periodic reviews of managing agents and unit resident files to ensure
compliance with mandated regulatory requirements; and
• Ensure the insurance needs of the properties are met.

6. Negotiating complex regulatory and financial obligations with investors, community

partners, residents, regulatory agencies and related groups:
• Review legal documents; and
• Prepare, negotiate and monitor master leases with service providers, retail tenants
and managing agents, ensure compliance with Home Forward contractual
obligations.

7. Work collaboratively with Home Forward departments to determine proposed unit

population and occupancy projects, level of staffing required, space planning, market
conditions, financial obligations and other criteria which influence asset management
programs.