Pennrose is an industry leader in the management and development of Affordable Housing. We are excited to be hiring for a Property Accountant for our Property Support Center located in Philadelphia, PA.
This position is responsible for assisting the Transition Accounting Manager with the day-to-day financial accounting of the Company’s lease up phase properties by providing analysis and support.
The Property Accountant will be responsible for creating a professional work environment, which reflects the PMC priorities of customer service, respect and collegiality among property team members, full compliance with the regulatory requirements, while following company policies and procedures and applicable regulations. In addition, the Property Accountant will be responsible for presenting to management and ownership periodic reports on financial issues.
Duties & Responsibilities:
• Completes monthly and quarterly reporting packages and prepares reporting packages for
• distribution within established deadlines.
• Prepares annual audit workpaper packages and reviews annual audit drafts for accuracy
• Assists with preparation of breakeven analysis in accordance with partnership agreements
• Reconciles all bank accounts and daily cash management for lease up properties. Detailed
management of AR and AP functions on new properties
• Prepares and enters all journal entries necessary to maintain balance sheet and income
statement accounts to accurately reflect financial activity and balances.
• Works with developers and auditors to ensure new property development cost reports
accurately reflect operating lease up expenses
• Assists with the creation of first year stabilized budgets for all properties in assigned
portfolio.
• Responsible for all new property set up functions within accounting
• Works with development on obtaining equity installments and mortgage conversion process
• Create relationships with investors, state agency representatives, and lenders during lease
up and permanent loan conversion processes
• Ensure all new property subsidy is received timely and recorded accurately
• Involvement in daily leasing activity with the operations teams to make sure lease up
properties are meeting budget expectations and goals.
Required Education & Experience:
• Bachelor’s degree in Accounting required
• 3 or more years’ experience accounting in Operations Management
• Real Estate accounting preferred
• Requires valid driver’s license, insured vehicle and ability to travel (properties, offices, agencies, etc.)
For more information, please go to our website at www.pennrose.com
Pennrose is an Equal Opportunity Employer
EOE M/F/D/V