Property Accountant

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SUMMARY: Bear Real Estate Group is seeking a Property Accountant Portfolio to oversee all financial functions for a group of workforce housing communities operating under the Low-Income Housing Tax Credit (LIHTC) program. This role manages full-cycle property accounting, ensures regulatory and investor compliance, and partners closely with property management, compliance, and asset management teams to maintain accurate financials and optimize property performance.

This position requires a deep understanding of LIHTC financial structures—including reserve requirements, partnership accounting, and compliance-driven accounting nuances.

In addition to strong technical expertise, the Property Accountant – LIHTC Portfolio must embody our team-oriented culture. We are looking for someone who is collaborative, dependable, and committed to supporting others. The ideal candidate approaches challenges with a solutions mindset, communicates with professionalism, and contributes positively to a fast-paced, no-drama work environment.

DUTIES AND RESPONSIBILITIES:

Full-Cycle Property Accounting

• Prepare monthly, quarterly, and annual financial statements for assigned LIHTC properties (balance sheet, income statement, cash flow, supplemental schedules).
• Complete all general ledger functions including journal entries, accruals, amortizations, depreciation, and account reconciliations.
• Reconcile bank accounts, A/R, A/P, security deposits, reserve accounts, and intercompany transactions.
• Maintain detailed schedules including prepaid expenses, fixed assets, reserves, debt, and escrow balances.

Compliance, Regulatory, and Investor Requirements

• Ensure all accounting practices meet LIHTC regulatory standards and partnership/operating agreement requirements.
• Prepare supporting documents for annual financial audits and cost certifications.
• Assist with annual tax returns (Forms 1065, K-1 distribution tracking) and coordinate with tax preparers.
• Maintain compliance reports for syndicators, investors, lenders, and state housing agencies, including surplus cash calculations.

Budgeting, Forecasting & Variance Analysis

• Participate in preparation of annual property budgets in collaboration with property management and asset management.
• Monitor actual performance vs. budget; prepare monthly variance reports with clear explanations and actionable insights.
• Track cash flow, operating reserves, replacement reserves, and capital expenditure budgets.

Cross-Functional Collaboration

• Partner with the compliance team to ensure accuracy of tenant income certifications and rent roll data affecting financial reporting.
• Support development and asset management teams on new lease-ups, rehab projects, and refinancing activities.
• Provide timely financial information to ownership groups, investors, and internal leadership.
• Serve as an accounting resource for property managers by interpreting financial results and improving onsite financial accuracy.

Process Improvement & Systems

• Recommend enhancements to accounting processes, workflows, and internal controls.
• Assist with system upgrades, transitions, or optimizations in Real Page, Yardi, or similar platforms.
• Develop property-specific accounting best practices, especially around reserve tracking, layered funding, and LIHTC deadlines.

QUALIFICATIONS:

• Bachelor's degree in Accounting, Finance, or related field required.
• 3–5 years of accounting experience, including at least 2 years in LIHTC or other affordable housing programs (HUD, RD, HOME, PBRA, etc.).
• Experience with real estate or property management accounting environments strongly preferred.
• Solid understanding of GAAP, real estate accounting, and LIHTC-specific financial requirements.
• Proficiency in Real Page, Yardi, MRI, or other integrated property management systems.
• Ability to interpret partnership agreements, regulatory filings, and lender requirements.
• Strong analytical mindset with exceptional attention to detail.
• Effective written and verbal communication skills.
• Ability to work independently, manage competing deadlines, and support multiple…