Careers at MassHousing

Asset Manager

Since its inception in 1966, MassHousing has supported affordable home ownership and rental housing opportunities throughout Massachusetts. The Agency has provided more than $25 billion for affordable housing in that time. Currently, MassHousing is seeking an experienced professional for the position of Asset Manager to continue the Agency’s storied history of affordable housing funding.

The Asset Manager oversees an average portfolio of 35 properties comprised up to 4 of MassHousing’s business platforms. The Asset Manager analyzes documents to understand the complexity of the financing, affordability restrictions, and compliance requirements of each property.

More specifically, the Asset Manager is responsible for the following:

• Serves as the primary contact for owners, management agents, federal, state, and local partners, and residents.
• Monitors compliance with program and loan requirements and creates risk assessments/action plans for at-risk properties.
• Performs property inspections to ensure viability, prudent operational performance, fiscal management, and documents his/her recommendations into the final review report.
• Analyzes rent rolls, vacancy and turnover information, affordability profiles, financial operating reports, resident files, compliance with waiting list requirements, fair housing practices, compliance with utilization of the use of restricted units and units set aside for supportive housing, management costs and salaries charged to the property, annual resident services provided, vendor contracting practices, and utilization of minority and women owned businesses to ensure all property goals are being met.
• Analyzes Capital Needs Reports and replacement reserve contributions by completing a capital needs sufficiency analysis and adjusting work planned. Makes recommendations to owner on contribution amounts, as applicable. Reviews replacement reserve requests and makes recommendations to his/her supervisor.
• Updates the financial, physical, and compliance risk ratings as needed.
• Analyzes annual budgets and capital improvement plans provided by the owner/agent prior to the beginning of each year to better understand that year’s plan for the property.
• Analyzes annual audited financial statements submitted and recommends distribution requests for approval to his/her supervisor.
• Monitors all loans for affordability preservation and potential Business Development refinancing opportunities, paying particular attention to pre-payable, balloon, and maturing loans.
• Supports rental business lines with budget analysis, reviewing new management companies, completing Tenant Selection Plans, and negotiating Management Agreements during loan underwriting.

Knowledge/Skills

• Ability to negotiate non-compliance issues and deliver the message in an effective way that preserves partnerships.
• Exceptional critical thinking and problem-solving skills.
• Strong work ethic and ability to work independently, and as a member of a team.
• Strong interpersonal and communication skills.
• Effective time management and project management skills.
• Proficiency with Microsoft Office Suite.
• Ability to travel to properties throughout Massachusetts.

Minimum Education and Training

• Bachelor’s Degree required; preference for candidates with degrees in Finance, Real Estate Management, Business Administration, or related fields.
• 2-3 years of experience in Asset Management or multifamily housing preferred, but not required.
• Valid driver’s license.

Salary Range: $75,850.00 - $98,606.00

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service.

MassHousing offers competitive compensation as well as an attractive benefits package. Learn more and apply for this position.

MassHousing is an Equal Opportunity Employer.

Monitoring and Compliance Specialist

Since its inception in 1966, MassHousing has supported affordable home ownership and rental housing opportunities throughout Massachusetts. The Agency has provided more than $25 billion for affordable housing in that time. Currently, MassHousing is seeking an experienced professional for the position of Monitoring and Compliance Specialist to continue the Agency’s storied history of affordable housing funding.

Monitoring and Compliance Specialist, reporting to the Manager of Planning & Programs, works with the Manager to interpret and coordinate the policies and actions relative to MassHousing’s role as project administrator in "Comprehensive Permit Programs for which Financing Is Provided by a Non-Governmental Entity." Incumbent will be responsible for implementing Department of Housing and Community Development (DHCD) policies regarding compliance with Chapter 40B and related regulations and guidelines. The Monitoring and Compliance Specialist will play a key role in ensuring compliance with all subsidy and regulatory requirements. Other department-specific duties may be required.

Specific Duties and Responsibilities

• Ensure compliance of 40B Developments with applicable laws, regulations and/or MassHousing policies, standards and guidelines.
• Coordinate and/or act as a liaison between MassHousing and other agencies, third-party monitoring agents, lottery agents, and developers.
• Track and evaluate the Chapter 40B monitoring process and practices for quality and effectiveness; make recommendations for improvements and initiate and conduct ad hoc reviews for compliance.
• Monitor key milestones, documents, policies and actions relative to the Final Approval processes including comprehensive permits, loan commitments, regulatory documents and final approval letters. Assist the Manager of Planning and Programs in the administration of the Final Approval application pipeline by providing routine updates.
• Work with the legal department to provide expertise regarding legal requirements related to the Site and Final Approval processes.
• Track and evaluate important case law regarding Chapter 40B and keep the Manager of Planning and Programs (take out Comprehensive Permit Programs) and staff informed of recent decisions. Work with the Legal Department to ensure compliance with applicable laws, regulations and/or MassHousing policies, standards and guidelines.
• Develop and implement new forms, documents, and procedures as needed in furtherance of programmatic requirements.
• Take an active role in interpreting, implementing and coordinating policies, documents and procedures in furtherance of the 40B Regulations, Guidelines and program requirements. Identify and respond to compliance issues under the Guidelines.

Knowledge/Skills

• Knowledge of real estate and governmental programs.
• Strong organizational skills and the ability to work independently on multiple tasks simultaneously with little or no direct supervision.
• Excellent verbal and written communication and presentation skills.

Minimum Education and Training

• Undergraduate degree or equivalent.
• Graduate degree in Law, Planning or Public Administration preferred but not required.
• Three to five years of experience in housing or real estate development, permitting and land use regulation, particularly affordable housing and Chapter 40B.

Salary Range: $81,579.00 to $106,053.00

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service.

MassHousing offers competitive compensation as well as an attractive benefits package. Learn more and apply for this position.

MassHousing is an Equal Opportunity Employer.

Senior Asset Manager

Since its inception in 1966, MassHousing has supported affordable home ownership and rental housing opportunities throughout Massachusetts. The Agency has provided more than $25 billion for affordable housing in that time. Currently, MassHousing is seeking an experienced professional for the position of Senior Asset Manager to continue the Agency's storied history of affordable housing funding.

The Senior Asset Manager oversees an average portfolio of at least 50 properties that have more complex issues to manage with respect to financial performance, physical condition, and compliance with regulatory and affordability requirements. The Senior Asset Manager supports the Portfolio Manager and will be expected to have knowledge of all MH business platforms.

More specifically, the Senior Asset Manager is responsible for the following:

• Serves as the primary contact for owners, management agents, federal, state, and local partners, and residents.
• Monitors compliance with program and loan requirements and creates risk assessments/action plans for at-risk properties.
• Collaborates with the Portfolio Manager in training Asset Managers in all tasks.
• Provides guidance to all Asset Managers on tasks and topics.
• Performs property inspections to ensure viability, prudent operational performance, fiscal management, and documents his/her recommendations into the final review report.
• Analyzes rent rolls, vacancy and turnover information, affordability profiles, financial operating reports, resident files, compliance with waiting list requirements, fair housing practices, compliance with utilization of the use of restricted units and units set aside for supportive housing, management costs and salaries charged to the property, annual resident services provided, vendor contracting practices, and utilization of minority and women owned businesses to ensure all property goals are being met.
• Analyzes Capital Needs Reports and replacement reserve contributions by completing a capital needs sufficiency analysis and adjusting work planned. Makes recommendations to owner on contribution amounts, as applicable. Reviews replacement reserve requests and approves Asset Managers’ replacement reserve requests up to an amount set by Department policy.
• Updates the financial, physical, and compliance risk ratings as needed.
• Analyzes annual budgets and capital improvement plans provided by the owner/agent prior to the beginning of each year to better understand that year’s plan for the property.
• Analyzes annual audited financial statements submitted and recommends distribution requests for final approval to his/her supervisor. Assists the Portfolio Manager in training Asset Managers on the internal process for reviewing these statements.
• Monitors all loans for affordability preservation and potential Business Development refinancing opportunities, paying particular attention to pre-payable, balloon, and maturing loans.
• Supports rental business lines with budget analysis, reviewing new management companies, completing Tenant Selection Plans, and negotiating Management Agreements during loan underwriting.
• Performs other duties as assigned by the Portfolio Manager such as managing the group during vacations and attending meetings in his/her place.

Knowledge/Skills

• Ability to negotiate non-compliance issues and deliver the message in an effective way that preserves partnerships.
• Exceptional critical thinking and problem-solving skills.
• Strong work ethic and ability to work independently, and as a member of a team.
• Strong interpersonal and communication skills.
• Effective time management and project management skills.
• Proficiency with Microsoft Office Suite.
• Ability to travel to properties throughout Massachusetts.

Minimum Education and Training

• Bachelor’s Degree required; preference for candidates with degrees in Finance, Real Estate Management, Business Administration, or related fields.
• 4-6 years of experience in Asset Management with a strong preference for candidates with a multi-family background.
• Valid driver’s license.

Salary Range: $81,579 - $106,053

All positions at MassHousing require a customer service mindset, in accordance with our values: Integrity, Excellence, Collaboration, Respect, Accountability and Service.

MassHousing offers competitive compensation as well as an attractive benefits package. Learn more and apply for this position.

MassHousing is an Equal Opportunity Employer.