WHY MIDPEN

At MidPen, we build communities that change lives. Since 1970, we have been committed to our mission: to provide safe, affordable housing of high quality to those in need; establish stability and opportunity in the lives of residents; and foster diverse communities that allow people from all ethnic, social, and economic backgrounds to live in dignity, harmony, and mutual respect.

We develop affordable housing, provide professional property management for all our communities, and coordinate robust onsite support programs that help residents thrive. We are active in 12 Northern California counties and have earned recognition as one of the nation’s leading non-profit developers and stewards of affordable housing. Our current portfolio of more than 130 properties is home to 20,000 working families, seniors, and people with special needs. We take pride in delivering affordable housing solutions, and we invite you to join us on a journey toward social, economic, and racial equity.

BENEFITS AND COMPENSATION

In 2023, MidPen was again certified as an official Great Place to Work®, and for good reason! In addition, we offer a best-in-class benefit package that includes healthcare options (Kaiser or Sutter), dental, vision, life & disability insurance. We also offer a wide range of voluntary benefits; 403(b) retirement investment opportunity and annual financial literacy and retirement planning options, FSA for childcare, medical and commuter benefit options, Employee Assistance program and pet insurance for our furry, feathered, and scaled friends. In addition to 14 paid company holidays, which include a paid winter holiday break between Christmas and the New Year, we offer 4 paid wellness days for employees to disconnect and recharge. As a learning organization, we encourage professional development and career advancement, and we offer up to $3,000 annually ($12,000 lifetime maximum) for education assistance with tuition reimbursement and/or loan debt relief that includes qualified family members. And, as a family-friendly company, we offer a paid time off parental leave benefit of 12 weeks in a 12-month period for new or expecting parents. Check out our benefits snapshot on our careers page.

PAY RANGE

$70,000 - $85,000 - Annual Salary - Pay based on applicable experience and qualifications

POSITION OVERVIEW

The Asset Revenue Analyst (“ARA”) reports to the Associate Director of Asset Management, Revenue Management. The Revenue Management team is a subdepartment of Asset Management, which also includes Portfolio Oversight and Transactions subdepartments.

This position is primarily responsible for managing department processes related to property revenue, including, but not limited to, subsidy contract renewals, monitoring rent increases, and providing analytical support in the measurement of business processes, financial outcomes, and revenue opportunities. As revenue represents both the key driver to the financial success of MidPen’s assets and a key tool to effectuate mission outcome, this position is critical to the department and the internal partners it supports.

This is a hybrid position, based on current MidPen policy of working Tuesdays and Thursdays in the Foster City Office. Monday, Wednesday and Friday, option to work from home or the office. When working from home, requires a reliable internet connection.

ESSENTIAL DUTIES

• Ensure the timely renewal of Project-based and Tenant-based contracts and related reporting.
• Optimize voucher rents ensuring the execution of strategies formulated in partnership with Asset Management.
• Assist in applying for new or amendments to Project-based contracts.
• Ensure voucher processing with applicable agencies and collection of subsidies.
• Review and optimize rents in connection with mark-to-comp adjustments.
• Measure changes in revenue and timeliness of renewal for portfolio reporting and process monitoring.
• Manage policies and processes to set asking rents for new move-ins and rent increases limits and effectiveness of property management’s adherence to such policies.
• Maintain formal documentation of rent setting parameters to limit fair housing risk and clear and consistent communication to property management staff.
• Manage MidPen’s Tiered Rent Increase Policy including related reporting, policy exceptions, and other increase restrictions imposed by applicable public agencies.
• Participate in budgeting property revenue and parameters used in connection with rent planning.
• Provide scenario analysis and recommendations on revenue plans and policy options.
• Monitor changes in Area Median Income, Fair Market Rents, market rates, and Payment Standards to provide outlook on future revenue growth and opportunity.
• In collaboration with the Compliance team, prepare Schedule of Rent Increase and other rent-roll budgeting as required by applicable regulatory agencies.
• Act as a contact point of queries form regulatory agencies in relation to contract management and rent increase
• Performs other duties as assigned

QUALIFICATIONS

To perform this job successfully, an individual must be able to perform each essential function satisfactorily. The requirements listed below are representative of the education, knowledge, skill, and/or ability required.

Education and Experience

• Bachelor’s Degree in Finance, Accounting, Economics, or related field plus four years’ experience in corporate/enterprise budgeting or financial analysis, or an equivalent combination of education and relevant experience

Knowledge, Skills, and Abilities

• Advanced level in Excel
• Proficiency using Word and Outlook
• Experience with working with a team
• Knowledge of affordable housing regulations and programs, including TCAC and HUD Section 8 preferred
• Excellent reading, written and verbal communication
• Ability to work in fast-moving, flexible environment
• Ability to prepare financial feasibility analysis, conduct research and prepare narrative reports and proposals
• Must possess a valid California Driver’s License, proof of current auto insurance, and reliable transportation
• Commitment to the Mission and Values of MidPen Services and MidPen Housing

Physical Requirements

• Constantly perform desk-based computer tasks
• Frequently sitting
• Occasionally stand/walk, reach/work above shoulders, grasp lightly/fine manipulation, grasp forcefully, use a telephone, sort/file paperwork or parts, lift/carry/push/pull objects that weigh up to 15 pounds
• Rarely twist/bend/stoop/squat, kneel/crawl

This description reflects management’s assignment of essential functions, it does not proscribe or restrict the tasks that may be assigned.

EQUAL OPPORTUNITY EMPLOYER

MidPen Housing Corp. provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.

Consistent with its obligations under the law, MidPen Housing Corp. will provide reasonable accommodation to any employee with a disability who requires accommodation to perform the essential functions of his or her job. MidPen believes that diversity and inclusion among our teammates is critical to our success, and we seek to recruit, develop, and retain the most talented people from a diverse candidate pool.