Job Description

Job Description

Asset Manager

Metropolitan Development Group

About the Role

Metropolitan Development Group is seeking an experienced Asset Manager to oversee the operational and financial performance of our residential portfolio. This role will ensure that each property achieves its financial goals, operates efficiently, and aligns with ownership’s long-term strategic objectives. The Asset Manager will serve as a key liaison between ownership, property management teams, and financial partners—providing leadership, analysis, and direction to maximize portfolio value. The position will be full time in our Tysons Corner Virginia location.

Key Responsibilities

Weekly

• Review leasing activity, renewals, rental rates, and operating expenses.
• Conduct weekly meetings with property management companies and site staff to review performance.
• Approve major project requests in accordance with budget.
• Develop new leasing and marketing strategies to drive occupancy and revenue.
• Identify and implement expense-saving opportunities.
• Report weekly activity and performance updates to ownership.
• Review accounts receivable and payable biweekly, approving payments to ensure smooth operations.
• Stay informed on market conditions impacting existing properties.

Monthly

• Review monthly financials and variance reports with management teams.
• Identify savings opportunities and forecast future expenses to stay within budget.
• Monitor cash positions to ensure annual cash flow goals are met.
• Complete internal executive reports and market studies; distribute to ownership.
• Conduct monthly performance meetings with ownership and management companies.

Quarterly

• Visit each property quarterly (or every other month) to assess asset quality and operations.
• Meet with on-site management and review ongoing or needed capital projects.
• Evaluate market trends for each property.
• Review quarterly preventative maintenance reports with management.

Annually

• Lead the annual budgeting process and recommend improvements based on prior performance.
• Ensure budgets align with company financial goals before submitting for ownership approval.
• Prepare and submit annual financial reports to banks and financial institutions.
• Oversee audits for HUD-financed properties, ensuring timely and accurate completion.
• Review property insurance renewals and confirm adequate, cost-effective coverage.
• Ensure all property inspections (including HUD REAC) are scheduled and reported.
• Oversee annual ownership cash distributions per waterfall guidelines.
• Review and assist with 5-year capital expenditure planning.
• Ensure all required leasing licenses are renewed on schedule.

Additional Responsibilities

• Identify and evaluate new acquisition or development opportunities.
• Conduct market research for potential new property locations.
• Collaborate with the Construction Manager and Financial Advisor on current projects and operational planning.
• Maintain relationships with HOA boards for assigned properties.
• Manage transitions between management companies, ensuring accurate setup and reporting.
• Maintain strong communication and relationships with HUD and financial institutions.

Qualifications

• Bachelor’s degree in Real Estate, Finance, Business Administration, or a related field (Master’s preferred).
• 15+ years of experience in asset management, real estate finance, or multifamily property operations.
• Strong knowledge of property management, financial reporting, and budgeting.
• Can come up with strategic approaches to mitigate risk in real estate investments as well as forward thinking to create value-add strategies for existing properties
• Experience with HUD-financed properties and compliance requirements preferred.
• Excellent analytical, organizational, and communication skills.
• Proficient in property management and financial reporting software like Yardi and/or OneSite as well as Microsoft Suite.
• Ability to travel regularly to property sites as well as potential new projects throughout the Mid-Atlantic, Northeast and Southwest Regions.

Skills and Competencies

• Financial and Operational Oversight
• Strategic Planning and Budgeting
• Real Estate Market Analysis
• Leadership and Team Collaboration
• Compliance and Regulatory Knowledge (HUD preferred)
• Relationship Management and Communication

Why Join Us

At Metropolitan Development Group, we are dedicated to creating and maintaining high-quality residential communities with the goal of a long-term hold. You will be involved in every aspect of the real estate process from site acquisitions to disposition and operations of each community. You’ll join a collaborative, growth-oriented team that values innovation, operational excellence, and long-term success.

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