Montgomery Housing Partnership - Asset Management Intern (Real Estate)

Montgomery Housing Partnership (MHP) is seeking a Real Estate ASSET MANAGEMENT INTERN to support the Asset Management team in the oversight and analysis of MHP’s housing development portfolio, including revenue and expense management, property condition maintenance, and compliance activities. The Intern will report to the Senior Asset Manager, and perform general analyst responsibilities.

Who we are: Montgomery Housing Partnership, Inc. (MHP) is an active and growing nonprofit organization, founded in 1989, that develops, acquires, rehabilitates, and builds quality apartment homes to meet Montgomery County’s growing need for affordable housing. MHP’s community-based projects and programs includes providing affordable rents, developing educational programs for residents to develop skills that expand their opportunities and balance their lives, and implementing neighborhood revitalization efforts in troubled communities impacted by foreclosures and economic downturn.

The Asset Management Intern assists with the necessary financial analysis and support to MHP in ensuring each property maintains a high-quality living environment; the properties are managed and maintained in an economical and fiscally responsible manner; adequate reserves are being accumulated for future maintenance needs; all federal, state and local legal and financial obligations are met; and reports are provided to MHP and subordinate corporations on financial health and property concerns.

Primary Responsibilities:

• Supports on-going financial monitoring and evaluation of property performance, particularly watchlist management, reviewing cash flow projections and reserve management for an assigned portfolio of properties
• Works with MRI Investment Central, the full life-cycle Asset Management software system tool to monitor the performance of the portfolio
• Assists the Senior Asset Manager to monitor debt and equity financing requirements, including Section 42 LIHTC compliance
• Engages with property management firms and assists the Senior Asset Manager with support on the annual operating budgets and rental increase policies
• Prepares asset management and production reports as requested
• Prepares supporting documents for reporting requirements for lenders and insurers, and management companies
• Under the supervision of the Senior Asset Manager, analyzes reports to track repair and maintenance trends, schedule capital needs assessments, maintains capital needs tracking system

Other Duties

• Occasionally attend evening resident meetings and resolve resident concerns as needed
• Participate in interdepartmental teams and committees
• Additional asset management activities as required

Qualifications:

• Pursuit of an undergraduate or Master’s degree in real estate development, asset management, or a related field. Knowledge of affordable housing programs such as Section 42 Low Income Housing Tax Credits, HUD Project Based Section 8, and Tenant Choice Voucher program, and some housing development, is preferred.
• Strong Microsoft Excel skills, including financial analysis ability to read and analyze financial reports and budgets.
• Familiarity with property management principles, and basic knowledge of building types, building construction and maintenance.
• Strong organizational skills and ability to coordinate complex activities, prioritize conflicting demands, and meet deadlines.
• Excellent interpersonal skills with ability to interact with property management companies and residents.
• Strong written and oral communication skills.
• Strong database management and general computer skills, particularly with Microsoft Office Suite (Word, Excel); MRI Investment Central preferred but not required.
• Ability to accompany physical inspections of properties, including walking up and down stairs.
• Valid Driver’s License.

Compensation: $20-$25 per hour.

Application Process: To apply, please submit your cover letter and resume, with salary requirements, to: stacy.johnson@maggiorehr.com. Please include the job title “Asset Management Intern” in the subject line of your email.