Manager, Asset Management – Multifamily

About Lotus Company: At Lotus Company, we believe every person deserves more than a place to live - they deserve a place to belong. Lotus exists to restore dignity, renew hope, and create sanctuaries where life can truly flourish. As a full-service builder, developer, owner, and operator, Lotus leads with intention at every stage - from design and development to construction, management, and community impact. Every detail reflects a belief that housing is sacred ground: a foundation upon which human potential awakens, and communities come alive. At Lotus, every team member plays a vital role in advancing our mission. Our neighborhood communities blend thoughtful design, sustainable craftsmanship, and authentic connection. Through our Lotus Impact Foundation, we extend our mission beyond housing, offering programs that empower residents to heal, grow, and step into brighter futures. Through Lotus Hospitality, we design gathering places that cultivate belonging, beauty, and shared humanity. With over $1 billion in projects in motion, Lotus is not merely constructing buildings, we are cultivating sanctuaries of hope across the nation. Each community is a living testament that every person is seen, safe and valued. Job Description: The Asset Manager is responsible for the overall performance and oversight of the assigned affordable housing portfolio, functioning as the primary owner’s representative for those properties. This is a seasoned professional who ensures that each asset achieves its long-range financial, physical, and compliance benchmarks. The Asset Manager supervises Asset Management Associates/Analysts and frequently interacts with other departments (Development, Property Management, Accounting) to protect and enhance portfolio value. This role reports to the Director of Asset Management. Responsibilities: - Strategic Portfolio Management: Implement the organization’s asset management plan and strategy for the portfolio. Set performance goals for each asset (financial targets, occupancy, compliance metrics) and develop property-level asset management plans. Continuously monitor portfolio performance and adjust strategies to meet overarching goals. - Financial Performance & ROI: Take ownership of property financial outcomes. Review monthly and quarterly financial results for each property in detail, including income, expenses, net operating income, and cash flow. Approve or adjust operational plans to improve performance (e.g., rent increases, expense reductions) while maintaining compliance and resident satisfaction. Manage LIHTC capital accounts (track tax credit equity contributions, ensure IRS compliance) and perform annual analyses of tax credit yields and investor IRR, especially as projects approach Year 15. - Annual Budgets & Capital Plans: Lead the preparation and approval of annual operating budgets and capital expenditure plans for the properties. Set clear guidelines for property management on budget targets (including appropriate rent levels and operating cost benchmarks). Review and finalize budgets, then present them (with justification) to senior management or the Board for approval. Ensure capital needs (e.g., renovations, major maintenance) are properly planned and funded through reserves or financing. - Compliance & Risk Management: Ensure 100% compliance with all regulatory and investor requirements across the portfolio. Oversee compliance staff or directly manage compliance reporting (such as LIHTC tenant certifications, financial audits, lender covenants). Proactively identify compliance risks (e.g., approaching deadlines, rent limit issues) and address them. Periodically conduct property site visits and audits of property management operations to assess physical conditions, regulatory files, marketing, and overall management quality. Develop action plans for any deficiencies noted. - Stakeholder Reporting: Provide regular dashboard reports and presentations on the portfolio to senior leadership.…