Operating Property Asset Manager

Affordable Equity Partners, Inc. (AEP), founded in 1997, is a financial resources company that provides a full range of services for developers and investors in the Section 42 LIHTC Program. Having more than 500 tax credit developments, AEP has syndicated over $5 billion in federal and state tax credits. AEP has never had a foreclosure or credit recapture and maintains a reputation of unparalleled service before, during and after the investment.

LOCATION - Atlanta, GA

SCHEDULE - Initially in office Mon-Fri....can move to hybrid after training period.

The Operating Property Asset Manager (OPAM) is the owner’s day-to-day point person for a portfolio of stabilized LIHTC properties. The OPAM drives operating performance, ensures continuing LIHTC and lender compliance, manages reserve draw requests and capital projects, oversees leasing & marketing execution to maximize revenue/NOI, prepares quarterly investor commentary and budgets, and coordinates refinancings or dispositions with Portfolio Management.

The OPAM also maintains the AHIC Operating Property Risk Ratings in MRI, leads responses to third-party inspection findings and 8823 notices, and partners closely with Compliance, Property Management, Accounting, Legal, and Investor Relations.

Role Overview

The Operating Property Asset Manager (OPAM) at Affordable Equity Properties (AEP) is responsible for the day-to-day oversight and performance of a portfolio of stabilized LIHTC (Low-Income Housing Tax Credit) properties. This role is pivotal in ensuring asset value, compliance, and operational excellence across the assigned portfolio.

Key Responsibilities

• Own monthly/quarterly property performance: evaluate P&L, occupancy, rent variance vs. budget, concession usage, utility expense trends, and prepare action plans to correct variances.
• Develops and implements action plans to address variances and ensure properties meet or exceed underwritten expectations.
• Ensures LIHTC compliance is maintained working with the Compliance team.
• Prepares quarterly investor commentary and ad-hoc updates.
• Updates AHIC Operating Property Risk Ratings in MRI software.
• Ensures a clean audit trail for inspections, reserve draws, and capital projects.
• Manages reserve draw requests, validates eligibility, and oversees capital projects from scoping to completion.
• Ensures timely and on-budget delivery of capital initiatives and closure of third-party inspection findings.
• Oversee leasing and marketing strategies to maximize rents while maintaining target occupancy: evaluate rent comps, make recommendations on concessions, lease terms, and staffing changes; approve marketing expenditures and track results.
• Supports refinancing and disposition efforts by providing accurate operating histories, capital projections, and compliance documentation.
• Champions process improvement and the adoption of AI/automation tools to enhance reporting, compliance, and portfolio monitoring.

Performance Measures (KPIs)

• Occupancy, Total Revenues and Net Operating Income (NOI).
• Timeliness and quality of capital project delivery.
• Accuracy and timeliness of investor reporting.
• Compliance response rates and cure timelines.
• Bachelor’s degree in Real Estate, Finance, Business, Construction Management, or related field (or equivalent experience).
• 4–7 years of experience in multifamily asset management or affordable housing, with financial analysis and LIHTC program knowledge.
• Experience with MRI or similar asset management systems, Excel and comfort with automation/AI tools is preferred.