Asset Manager in Boston, Massachusetts at 2LIFE COMMUNITIES
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Job Description
BACKGROUND
2Life Communities provides superior housing to older adults of all backgrounds who can thrive independently within a supportive environment. We are a mission-driven organization with a vision whereby all older adults have the opportunity to age in community – to live a full life of connection and purpose in a dynamic and supportive environment. We continually evolve our support services to meet the needs of our diverse residents as they age. We offer case management, service coordination, and a wide array of wellness, cultural, and other activities. We partner with health care providers to identify innovative ways to support residents’ health and well-being, and we engage with the broader community through our Village Center program.
2Life owns and operates over 1,300 affordable rental units across six campuses in metropolitan Boston. With another 210 apartments under construction and more in planning, we expect to add 600-700 units over the next several years as we complete projects in active planning and construction. We continue to pursue other development opportunities. We anticipate continued growth in the size of our portfolio, the geography in which we operate, and the diversity of our residents in terms of race, ethnicity, income levels, and need for supportive services.
GENERAL SUMMARY
The Asset Manager is responsible for overseeing the operational, financial, and regulatory performance of a portfolio of affordable housing properties. Working closely with property management, finance, facilities, and compliance teams, this role ensures properties operate efficiently, remain in compliance with all funding and regulatory requirements, and align with organizational goals. The Asset Manager analyzes financial performance, supports budgeting and cost management, leads annual property reviews, and provides clear, data driven insights to leadership and the board, while also advancing sustainability, risk mitigation, and continuous improvement across the portfolio.
ESSENTIAL JOB FUNCTIONS
Collaboration and Continuous Improvement
- Work cross-functionally with Finance, Facilities, and Compliance to align site operations with organizational goals.
- Support training and capacity-building for site staff in budgeting, reporting, and performance monitoring.
- Participate in organizational initiatives aimed at improving operational system
Operational and Financial Performance
- Partner with property management, finance, and accounting to set and monitor annual operating budgets.
- Review property financials monthly, analyzing variances and identifying trends or areas requiring intervention.
- Lead annual property performance reviews, documenting key takeaways and recommendations.
- Provide narrative and data-driven insights
Compliance and Contract Oversight
- Monitor HUD, MassHousing, and other subsidy contract terms, as well as rent increase opportunities.
- Ensure timely renewals, submissions, and responses to requests from funders or regulatory agencies.
Cost Management and Risk Mitigation
- Identify and lead real estate tax abatement or exemption efforts to reduce expenses.
- Monitor and support utility rate management to ensure properties receive the most cost-effective energy pricing available.
- Evaluate capital reserve and risk exposures
- Coordinate property insurance claims
Sustainability and Energy Management
- Use benchmarking systems to track and analyze energy and water consumption, identifying opportunities for reduction and savings.
- Address short-term utility or mechanical issues and develop long-term sustainability strategies.
- Identify and pursue sustainability grants or incentive programs.
- Ensure compliance with local environmental and sustainability reporting requirements (e.g., BERDO, City of Newton).
- Stay informed of emerging energy regulations and collaborate with Facilities on implementation strategies.
OTHER DUTIES AND RESPONSIBILITIES
- Prepare monthly board report/dashboard
- Create and maintain deal books for all properties
PREPARATION, KNOWLEDGE, SKILLS & ABILITIES
- 3+ years of experience in affordable housing asset management, property management, real estate finance, or a related field.
- Working knowledge of LIHTC and affordable housing finance, including compliance and reporting requirements.
- Strong financial and analytical skills, including budget-to-actual analysis, cash flow review, and property-level KPIs.
- Demonstrated experience managing asset-level data, dashboards, or reporting systems with accuracy and consistency.
- Ability to maintain and interpret portfolio documentation, including financing structures, regulatory agreements, and compliance requirements.
- Proficiency in Excel and comfort working across financial and property management systems.
We don’t just offer a job; we invest in your entire life. Our "Total Rewards" package adds an extra 27% to 30%+ in value on top of your base salary.
- Comprehensive Health: Premium Medical, Dental, and Vision coverage for you and your family.
- Future-Proofing: 401(k) retirement planning and employer-paid Life, AD&D, and Disability insurance (Short & Long Term).
- Rest & Recharge: Generous paid vacation, official holidays, plus 2 floating holidays to use whenever you need a break.
- Family-Friendly: Inclusion for your "+1" and dependents, plus Pet Insurance for your furry family members.
The above statements intend to describe the general nature and level of work performed by people assigned to do this job. The above does not intend to be an exhaustive list of all responsibilities and duties required.
We desire to build and cultivate an environment that brings together an exceptional workforce with unique experiences, backgrounds, talents, and perspectives.
External and internal applicants, as well as position incumbents who become disabled as defined under the Americans with Disabilities Act must be able to perform the essential job functions (as listed) either unaided or with the assistance of a reasonable accommodation to be determined by management on a case by case basis.