WNC Career Opportunities
Owner's Representative
Position Overview:
The Owner’s Representative will oversee a portfolio of LIHTC properties where WNC & Associates, Inc., or an affiliate, serves as a general partner (“Apartment Communities”). The Owner’s Representative will act in the capacity as an agent of the general partner/owner and serve as the liaison with the property management company. The Owner’s Representative will ensure that Apartment Communities are operating at a positive cash flow consistent with the original underwriting of the transaction.
Position Responsibilities:
- Participate as liaison with the property management company to make owner related decisions.
- Obtain and review on a monthly basis financial and operating information of an Apartment Community.
- Conduct monthly meetings with property management to review and assess the operations of the portfolio.
- Maximize the return to owner for each Apartment Community to meet the projected cash distributions to WNC and its affiliates.
- Monitor reserve levels and approve requests for release of replacement and operating reserves.
- Evaluate property management performance and capacity.
- Monitor overall operational performance of the Apartment Communities.
- Develop “Action Plan” in conjunction with the property manager for financially or physically struggling Apartment Communities and monitor the effectiveness of the “Plan” on a monthly basis.
- Review all final development budgets, including sources and uses of capital and operating proformas prior to initial closing and prior to permanent loan conversion.
- Review and approve annual budgets for reasonableness prior to submission to limited partner investor.
- Review and approve all audits, tax returns and audit representative letters prior to delivery to the limited partner investor.
- Visit the Apartment Communities at least once a year or more frequently as required.
- Review partnership agreements, regulatory agreements, financing documents and other sources to determine financing structures and constraints, as needed.
- Complete special projects that are communicated to the Owner’s Representative by the Vice President of Asset Management.
Requirements:
- BA degree in accounting, business, economics or related field; Master’s degree or CPM preferred.
- Must have five to eight years of responsible experience in housing, asset management, property management or real estate finance. Knowledge of LIHTC preferred.
- Candidate must have financial analysis skills.
- Knowledge of multifamily real estate operations, including property management; marketing and leasing; budgeting; capital needs planning; financial reporting and compliance with financing covenants or regulatory agreements preferred.
- Must have strong computer skills and thorough knowledge of MS Word and Excel.
- Must have excellent communication and organizational skills.
This position reports to the Vice President of Asset Management.
Benefits
WNC & Associates, Inc. is an Equal Opportunity Employer offering a competitive salary and benefits package including medical, dental, life insurance, and 401k plan.
How to Apply:
Please submit your resume along with salary history, in confidence, to: resources4hr@gmail.com.