Property Accountant

APPLICATION PROCESS :

To be considered for this position, you must apply through NHT’s hiring portal ( https : / / nhtinc.bamboohr.com / careers / 111?source=aWQ9NTc%3D ).

ORGANIZATIONAL BACKGROUND :

National Housing Trust (NHT) has been dedicated to creating and preserving affordable housing for almost 40 years. We build, preserve, and finance affordable housing and use that expertise to inform and advance resident-focused solutions to strengthen the broader affordable housing industry.

NHT has a staff of 60+ across five program areas : Policy, Lending, Real Estate Development, Community Outreach and Impact, and Energy Solutions. Our hallmark is our cross-functional, integrated approach to innovating, demonstrating, and amplifying solutions to the affordable housing crisis in the U.S.

POSITION :

The Property Accountant reports to the Assistant Controller, Real Estate and Property Accounting. This role is responsible for a the review of monthly real estate operating properties for accuracy, providing journal entries to property managers, and on an annual basis, providing auditors with trial balance and work papers which are GAAP consistent and other duties as needed for a portfolio of properties. The position  involves communicating with property management companies, project lenders, NHT staff (mainly Asset Management and Real Estate Development), NHT leadership, and deal investors. In addition, the position is responsible for updating and maintaining accounting records for construction and real estate operating properties and evaluating for reasonableness the information presented in project financial statements, and other accompanying schedules to the financial statements for any reporting entities assigned. The position has no supervisory duties. This role requires the ability to work additional hours during the audit seasons.

This position is DC-based and qualifies for a hybrid work schedule, working a minimum of two days per week (Tuesdays and Thursdays) at NHT’s corporate office.

RESPONSIBILITIES :

• Performs full cycle real estate accounting and project accounting for an assigned portfolio of properties with a focus on affordable housing real estate projects in stable operation, predevelopment, or development.
• Oversee third-party property manager accountants’ monthly financial preparation and reconciliation issues.
• Performs duties related to tracking and accounting for General Partner (GP) and Limited Partner (LP) interests in partnerships, accounting for fees earned, funds released, and reporting on project financial implementation.
• Monitor intercompany accounting issues related to operating properties, loans receivable or payable, and related reconciliations.
• Review monthly variance analysis reports and work closely with asset management on variance details.
• Complete monthly, quarterly, and yearly financial statements for internal and external stakeholders.
• Assist in the annual audit process for assigned entities and coordinate the tax process, as needed.
• Participate in the calculation of the yearly surplus-cash calculations performed by Asset Management based on the audited financials.
• Work with various departments to develop budgets and forecasts.
• Calculate variances from the budget and report significant issues to management.
• Ensure the organizational reporting requirements are met.
• Integrate entity development activity into the operating ledgers maintained by the management agent.
• Performs analysis on fund sources and uses, records and reconciles construction draw and construction financing transactions including acquisition and disposition, records loan fund interest accruals and equity investments, and bank deposits. Performs bank reconciliations if needed, assists with the month end closing of the accounting records and project financial statement preparation, assists with budgeting and accounts receivable.
• Records monthly trustee activity for projects that are bond financed; reconciles bank and bond accounts.
• Manage construction draws and lender requisitions for assigned properties.  Maintains a monthly calendar (or as dictated in the loan agreement) to ensure reimbursements are done in a timely manner.
• Reconciles draws to actual costs and the construction budget; tracks projected budgets with actual costs and provides auditor with project Construction in Progress (CIP) / fixed assets updates; develops and updates depreciation, amortization, and asset retirement obligation schedule; creates financial reports for investors and fund sources.
• Assist with proforma preparation, closing process, initial draws and settlement statements.
• Serve as the liaison for assigned properties between Finance and the Development Managers for 3rd party reporting requirements.
• Support the Director of Development and Assistant Controller with monitoring the entity and project cash flow operating needs.
• Prepares accounting packages for auditor review for assigned properties. Regular calls and communication with vendors, contractors and banks to obtain adequate information as source documentation for audit records. Provides supporting documentation for financial audits and other financial reviews as needed.
• Assist in transitioning properties from development to operations.
• Improve internal controls, policies, and procedures in accordance with GAAP.
• Perform other duties as assigned that are pertinent and arise in the ordinary course of business.

DOES THIS SOUND LIKE YOU?

This is an extraordinary opportunity for a committed and emerging leader with at least 3-7 years of experience. Candidates will ideally have experience in nonprofit affordable housing. Other qualifications include :

COMPENSATION :

Salary and benefits are competitive and commensurate with experience. The salary range for this position is $85,000 to a maximum of $120,000.

APPLICATION PROCESS :

To be considered for this position, you must apply through NHT’s hiring portal ( https : / / nhtinc.bamboohr.com / careers / 111?source=aWQ9NTc%3D ).

No phone calls, please.

About National Housing Trust :

National Housing Trust (NHT) has been dedicated to creating and preserving affordable housing for almost 40 years. We build, preserve, and finance affordable housing and use that expertise to inform and advance resident-focused solutions to strengthen the broader affordable housing industry.

NHT has a staff of 50+ across five program areas : Policy, Lending, Real Estate Development, Community Outreach and Impact, and Energy Solutions. Our hallmark is our cross-functional, integrated approach to innovating, demonstrating, and amplifying solutions to the affordable housing crisis in the U.S.