Asset Manager

About the Lotus Company

At The 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. This includes summarizing key performance indicators, notable achievements, and areas of concern.

Interface with investors and lenders: deliver required quarterly/annual reports, lead annual investor property inspections or calls, and maintain strong relationships by addressing questions or concerns promptly. 

Problem Resolution

For assets not meeting performance expectations, devise and implement corrective action plans. For example, if a property is underperforming financially or operationally, step in to guide or change property management, adjust leasing strategies, or invest additional resources.

Lead workout strategies for troubled assets, coordinating with legal, finance, and property management as needed to protect the owner’s interests. 

Acquisition & Disposition Support

Participate in due diligence for potential acquisitions (reviewing financials, compliance status, and physical condition to inform underwriting).

For dispositions, coordinate with the acquisitions/finance team and ensure that all asset-related obligations (like ROFRs, use agreements) are addressed.

Assist in negotiating terms with buyers or partners for sales or refinancings by providing detailed property knowledge and analysis. 

Team Leadership

Supervise Asset Management Associates and Analysts. Set their work priorities, review their analyses, and provide mentorship to develop their skills.

Foster a collaborative environment where the asset management team works seamlessly with other groups (e.g., Development, Accounting).

Conduct performance evaluations of direct reports and guide their professional development (e.g., recommending training or certifications). 

Qualifications

Expertise: Strong expertise in real estate finance, particularly in
affordable multifamily housing. Thorough grasp of LIHTC program rules, property financial statements, and real estate valuation. Able to creatively structure solutions to maximize property value and cash flow within regulatory limitations. 

Leadership & Management: Proven ability to lead a team and manage multiple projects/properties simultaneously. Skills in coaching and developing junior staff are important. Able to delegate effectively but also dive into details when necessary. 

Communication & Negotiation: Excellent communicator with the capacity to persuasively present asset performance and strategy to executives and boards. Strong negotiation skills to work with property management companies (for management agreements or performance issues) and to negotiate terms with lenders, investors, or partners in refinancings and dispositions. 

Analytical & Systems Skills: High proficiency in financial modeling and analysis. Comfortable using advanced software for asset management and reporting. Able to identify trends and insights from complex data sets and translate them into actionable strategy. 

Industry Knowledge: Up-to-date on
industry best practices and market trends affecting affordable housing. Familiar with federal and state housing regulations, Fair Housing laws, and emerging issues (e.g., changes in tax credit policy or programs that could impact the portfolio). 

Problem-Solving: Creative and resourceful in solving problems. Can handle high-pressure situations (like a failing project or investor issue) calmly and effectively, drawing on experience and industry contacts as needed. 

Education and Experience Requirements

Bachelor’s degree in finance, real estate, business, or related field; Master’s degree preferred (MBA or MPA for nonprofit, or MS in Real Estate). Professional certifications (e.g., CHAM, CPM) add value. 

5–7+ years of direct experience in asset management of multifamily real estate, with at least 3+ years in affordable housing asset management. Should include track record of full lifecycle asset oversight (from lease-up through stabilization and ideally through a refinancing or disposition event). 

Experience supervising staff and leading cross-functional initiatives, including managing analysts and/or associates or leading deal teams. At least 1–2 years of direct people management or extensive project leadership experience is required; leadership in cross-functional or deal-team settings may substitute where direct reports experience is limited, provided managerial aptitude is clearly demonstrated.

Demonstrated success in meeting financial targets for a portfolio and maintaining compliance. References or portfolio results should reflect strong performance under the candidate’s stewardship. 

Familiarity with construction/rehab processes is helpful (to coordinate capital improvements) and advanced knowledge of partnership taxation as it relates to LIHTC is a plus. 

Experience with real estate development projects (from term sheet through closing). Ideally brings experience closing both construction and permanent loans, and syndicating tax credits or other equity investments. 

Industry recognition, while not required, adds value and credibility and signals that the candidate is a known quantity in affordable housing finance. Examples include established relationships with major LIHTC investors and participation in industry conferences, panels, or speaking engagements.

Work Environment & Schedule

This is a full-time, in-office position based on the 13th floor of our downtown Salt Lake City headquarters, with core hours Monday through Friday. Our office at Second + State offers expansive views of the city and surrounding mountains, access to a private balcony, and close proximity to a wide range of restaurants, cafés, and amenities within walking distance. The building also provides an on-site fitness facility and covered, year-round parking. Daily office essentials like coffee, snacks, and beverages are available to support a comfortable and engaging workday.

Benefits

The Lotus Company offers a comprehensive benefits package designed to support the health, financial security, and overall well-being of our employees. Benefits include:

Medical, dental, and vision insurance coverage, with eligibility beginning 30 days after employment

Health Savings Account (HSA) option

Access to telehealth and virtual care services

Mental health and wellness support, including expedited access to therapy and counseling resources

Basic life insurance, with the option to purchase additional coverage

Short-term disability insurance

Paid time off (PTO), accruing at 15 days per year

Ten (10) paid company holidays annually

401(k) retirement plan with employer match

Performance-based bonus program based on company and individual performance

Employee recognition and milestone celebrations

Access to an on-site fitness facility

Covered, year-round parking in an attached garage

Daily office amenities, including coffee, snacks, and beverages