About the Opportunity
Our client is seeking an experienced Property Accountant to oversee the financial operations of a portfolio of affordable housing properties operating under the Low-Income Housing Tax Credit (LIHTC) program. This role is ideal for an accounting professional who enjoys working in a multi-entity environment, managing complex reconciliations, and partnering with property management and compliance teams.
The ideal candidate will bring a strong understanding of LIHTC accounting, partnership accounting, compliance reporting, and affordable housing operations while contributing to a collaborative, team-first culture.
Key Responsibilities for the Property Accountant
Property Accounting & Financial Reporting
- Prepare monthly, quarterly, and annual financial statements for assigned LIHTC properties
- Manage general ledger activities including journal entries, accruals, amortizations, depreciation, and reconciliations
- Reconcile bank accounts, A/R, A/P, reserve accounts, security deposits, and intercompany transactions
- Maintain schedules for fixed assets, debt, reserve balances, escrow accounts, and prepaid expenses
Compliance & Investor Reporting
- Ensure accounting activities comply with LIHTC regulations, partnership agreements, and lender requirements
- Prepare supporting schedules for annual audits and cost certifications
- Assist with partnership tax reporting, including Forms 1065 and K-1 tracking
Budgeting, Forecasting & Analysis
- Assist with annual operating and capital budgets
- Prepare monthly variance analyses and explain budget-to-actual fluctuations
- Monitor property cash flow, reserves, and capital expenditure activity
- Provide financial insights and recommendations to management
Cross-Functional Collaboration
- Partner with property management, compliance, and asset management teams
- Support lease-ups, refinancing projects, rehabilitation projects, and property acquisitions
- Provide financial reporting and analysis to ownership groups and investors
- Serve as a resource to property managers regarding financial performance and reporting
Systems & Process Improvement
- Identify opportunities to improve accounting processes, workflows, and internal controls
- Support ERP and property management system enhancements
- Develop best practices around reserve tracking, compliance deadlines, and reporting requirements
Qualifications for the Property Accountant
Required:
- Bachelor’s degree in Accounting, Finance, or related field
- 3–5 years of accounting experience
- At least 2 years of LIHTC, affordable housing, HUD, RD, HOME, or related housing program experience
- Strong understanding of GAAP and real estate/property accounting
- Advanced Excel skills including Pivot Tables, VLOOKUPs, and XLOOKUPs
- Ability to manage multiple properties, deadlines, and reporting requirements
Preferred:
- Experience with Yardi, RealPage, MRI, or similar property management systems
- Partnership accounting experience
- Experience with layered financing programs including HOME, CDBG, Tax-Exempt Bonds, PBRA, PBV, or RD
- Experience supporting investor reporting and syndicator compliance
- CPA or CPA-track candidate
Why This Role?
- Opportunity to work with a growing portfolio of LIHTC and affordable housing properties
- High-impact role with exposure to property operations, compliance, and investor reporting
- Collaborative team environment with experienced leadership
- Opportunity to expand expertise in affordable housing, partnership accounting, and real estate finance
- Meaningful work supporting housing initiatives that strengthen communities
- Exposure to budgeting, forecasting, audits, and strategic property analysis
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