Reserve Specialist

Description

 This is a full-time hybrid role located in Rockville, MD but with the opportunity for 100% remote work for someone with a strong background. The Replacement Reserve Specialist is responsible for facilitating and managing the process of preparing and requesting approval from various government agencies, lenders, and/or investors for the use of the replacement reserves. This role involves working closely with the property management and accounting teams, and other stakeholders to ensure that all eligible expenses are requested in a timely manner. The Replacement Reserve Specialist will be responsible for following up on non-responses and tracking all requests for ease of reference by various departments.  

Key Responsibilities:

Requests and Documentation:

• Prepare replacement reserve requests as indicated by property owners or management teams in accordance with various federal, state, investor, and lender requirements.
• Ensure that all necessary documentation and information are provided with each request.

Collaboration:

• Collaborate with property managers, maintenance teams, and relevant stakeholders to understand the scope and urgency of each replacement reserve request.

Approval Process:

• Facilitate and track the approval process for replacement reserve requests 
• Communicate decisions and provide feedback to requestors.

Communication:

• Maintain open communication channels with operations, accounting, and other stakeholders regarding the status of replacement reserve requests.
• Provide updates on the availability of funds and any changes in the approval process.

Record Keeping:

• Maintain accurate records of replacement reserve requests, approvals, and fund allocations.
• Ensure that all documentation is organized and accessible for auditing purposes.

Requirements

Experience:

• Previous experience in property management, real estate, or a similar field is advantageous.
• Familiarity with replacement reserve processes and financial management is a plus.

Communication Skills:

• Strong written and verbal communication skills to effectively interact with stakeholders.

Detail-Oriented:

• Attention to detail is needed when reviewing and processing replacement reserve requests.

Team Collaboration:

• Ability to work collaboratively with property management teams, owners, and accounting.