AVP / VP of Asset Management

The Opportunity We are seeking an Area Vice President or Vice President of Asset Management to maximize the long-term value, performance, and mission alignment of a portfolio of affordable housing communities. This role is heavily focused on acquisition support, recapitalization, and repositioning strategies—overseeing assets from due diligence and closing through renovation and stabilization. Role Overview The position will oversee the financial, physical, and regulatory performance of an affordable housing portfolio across the full asset lifecycle. This leader will partner closely with Acquisitions, Development, Property Management, lenders, investors, and regulatory agencies to achieve targeted financial outcomes while maintaining compliance with applicable affordable housing programs. Key Responsibilities Portfolio & Asset Strategy Implement and continuously refine asset management strategy, identifying opportunities to enhance value, mitigate risk, and improve operational efficiency Develop and execute asset-specific business plans aligned with acquisition underwriting, capital improvement strategies, and long-term hold objectives Monitor performance across the lifecycle including lease-up, stabilization, repositioning, recapitalization, and long-term hold Acquisitions, Due Diligence & Transactions Support underwriting and due diligence, including review of operating performance, compliance status, physical condition, capital needs, and partnership structures Partner with Acquisitions and Development to evaluate recapitalization scenarios, LIHTC resyndications, Year 15 strategies, and disposition alternatives Analyze exit strategies and tax implications, including LIHTC capital account modeling and exit tax projections Financial Performance & Reporting Create, manage, and enhance asset-level financial models to track operating performance, capital expenditures, and long-term projections Establish annual operating and capital budgets (including rent growth assumptions) in collaboration with Property Management; present recommendations to senior leadership and/or Board Review monthly financials and performance against KPIs; identify trends, risks, corrective actions, and watchlist items Prepare and maintain dashboards and portfolio reporting for senior leadership, investors, and Boards Compliance, Risk & Stakeholder Management Maintain a working understanding of partnership agreements, regulatory agreements, loan documents, subsidy requirements, and investor obligations Oversee compliance performance and reporting to state housing agencies, HUD, investors, and lenders Review draft audits and oversee corrective actions as needed Proactively manage property and partnership risk factors; develop and implement corrective action plans Build and maintain relationships with investors, lenders, regulators, syndicators, property management partners, and internal stakeholders Capital, Reserves & Waterfall Oversight Manage LIHTC capital accounts, surplus cash calculations, asset management fees, deferred developer fees, and other owner incentives Ensure fulfillment of partnership waterfall obligations, including payments to subordinate lenders Oversee replacement reserve and escrow reimbursement reviews and approvals Support insurance procurement, property tax abatements, and exemption processes Physical Asset Oversight & Repositioning Conduct periodic physical and administrative reviews to assess condition, market positioning, management effectiveness, and capital planning Partner with Development and Construction teams to execute capital improvement and repositioning initiatives aligned with business plans Evaluate market comparability, rent positioning, and affordability restrictions to inform long-term strategy Experience & Qualifications Required: Bachelor’s degree in Real Estate, Finance, Accounting, Economics, Business Administration, or a related field 7–10+ years of progressively responsible affordable housing asset management experience, including involvement in acquisitions, recapitalizations, and/or portfolio repositioning Deep working knowledge of LIHTC structures, subsidy programs, partnership accounting, and regulatory compliance financial modeling and analytical skills (operating performance, capital planning, and exit scenario evaluation) Proven ability to work cross-functionally and lead through influence with internal teams and third-party partners Proactive, detail-oriented leader able to manage multiple assets and priorities simultaneously Excellent written and verbal communication skills, including presenting to senior leadership, investors, and Boards Preferred: Certified Housing Asset Manager (CHAM) designation or willingness to obtain Compensation & Benefits Competitive compensation, commensurate with experience Comprehensive benefits package Opportunity to lead mission-aligned affordable housing strategy with significant influence across acquisitions and long-term portfolio performance Why This Opportunity Senior leadership role with direct impact on portfolio performance and preservation outcomes Exposure to acquisitions, LIHTC recapitalizations/resyndications, Year 15 strategy, and repositioning execution High-collaboration environment across Acquisitions, Development, Construction, Property Management, and capital partners Opportunity to drive long-term value while supporting affordability and compliance Next Steps Qualified professionals interested in a confidential discussion are encouraged to apply or contact wRight Resources directly. 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