Dorchester Bay Economic Development Corporation (DBEDC) seeks an Asset Manager to join our team.
The Organization and Its Programs:
Dorchester Bay EDC acts to build a strong, thriving and diverse community in Boston’s Dorchester neighborhoods. We develop, preserve and sustain affordable housing. We create commercial and economic development opportunities. We build community through community organizing and civic engagement activities.
Since our founding in 1979, Dorchester Bay EDC has developed close to 1000 units of rental and 156,000 square feet of commercial space.
Asset Management at Dorchester Bay EDC:
The Asset Manager will safeguard the physical and financial health of Dorchester Bay EDC’s expanding portfolio of affordable housing and commercial real estate. They will ensure that our goals for the properties are met, and that high quality services that address community needs are delivered. They will monitor compliance with investor and lender reporting requirements. The Asset Manager will report to the Director of Finance and Administration and will work collaboratively with other Dorchester Bay EDC staff as well as with third party property management companies. Responsibilities are listed below:
Maintain Property Physical Health
- Monitor the physical condition of Dorchester Bay EDC’s properties through project site visits, review of Facilities Management reports, Capital Needs Analysis, and periodic inspections.
- Approve individual capital improvement proposals, monitor the implementation of capital improvements and/or specific maintenance enhancements where needed.
- Guide and approve as appropriate the actions of any 3rd party property managers pursuant to maintaining the physical integrity of assets in the portfolio.
Maintain Property Financial Health
- Analyze monthly financial statements, annual operating budgets and annual audits.
- Establish and monitor financial performance methods and standards.
- Identify and prioritize property financial issues.
- Work with senior management and 3rd party property managers to develop and implement action plans to resolve property financial issues.
Meet Owner Goals
- Design strategies to achieve goals of long-term financial stability, cost efficiency, resident satisfaction, and well-maintained physical plant.
- Manage tenant relations.
- Work with resident services staff to coordinate with and support tenant associations and organizing efforts consistent with DBEDC’s programmatic goals.
- Prepare Requests for Proposals and negotiate property management contrast.
- Evaluate management and marketing plans and recommend approval as appropriate.
- Negotiate leases on commercial properties and ensure that these leases are properly implemented, as needed.
Satisfy Reporting and Related Requirements
- Develop summaries of financing and regulatory agreements, and review requirements with property managers
- Monitor income and rent regulatory compliance performed by 3rd party management
- Assist with financial contract administration.
Our Ideal Candidate
Our ideal candidate will have a deep understanding of property development and operations. They will demonstrate expertise in property financial analysis, physical plant knowledge, and familiarity with affordable housing communities. They will function well in a goal-driven, fast-paced office environment and in meetings with residents of our housing. They will work well independently and in a team.
Technical Skills and Qualifications
- Bachelor’s degree in Business Administration, Real Estate or a related field.
- At least five years of experience in asset management, residential property management, or housing development.
- Some experience with affordable housing finance.
- CHAM or other certification in property or asset management preferred.
- Excellent computer skills, including spreadsheet, word processing and internet skills; familiarity with property management software tools a plus.
- Conversational knowledge of Spanish, Portuguese, Tagalog or Cape Verdean Creole a plus.
We seek candidates who embrace our mission, and bring a sense of humor and passion to their work.
The Selection Process
Please submit a cover letter, your salary requirements and your particular qualification for this positon, along with a resume to: http://annlsilverman.com/DB-asset-manager. No phone call or letters please.
Dorchester Bay Economic Development Corporation views diversity, inclusion, and cultural competence as vital guiding principles in all of our work with clients and communities. We welcome and encourage applications from visible minority group members, indigenous persons, members of the LGBTQ+ community, persons with disabilities and others who may contribute to the diversity of the organization and reflect the diversity of the communities we serve.