Property Controller

HireIQ is delighted to be assisting a prestigious client in recruiting for a Property Controller.

Position Summary:

This role involves ensuring accurate and timely financial reporting, maintaining strong internal controls, and supporting the overall financial well-being of the portfolio. The ideal candidate will have exceptional analytical abilities, a comprehensive understanding of property management accounting, and the capacity to work effectively with cross-functional teams.

Primary Responsibilities:

Financial Reporting:

• Prepare and review monthly, quarterly, and annual financial statements for each property.
• Ensure adherence to Generally Accepted Accounting Principles (GAAP) and company policies.
• Maintain and reconcile fixed asset schedules and roll forwards.
• Interpret and apply legal agreements as needed.
• Coordinate with external auditors to ensure timely completion of annual audit requirements.

Budgeting and Forecasting:

• Develop and manage annual budgets and financial forecasts for each property.
• Monitor financial performance, providing variance analysis against budgets.
• Collaborate with property managers to identify opportunities for cost savings and revenue enhancements.

Internal Controls and Compliance:

• Establish and maintain robust internal controls to protect assets and ensure accurate financial reporting.
• Ensure compliance with all regulatory requirements, including tax filings and local property laws.
• Conduct regular internal audits to evaluate the effectiveness of financial controls and processes, and refine workflows to align with my client’s goals.

Accounts Payable and Receivable:

• Oversee accounts payable and receivable functions, ensuring timely and accurate processing of invoices and payments.
• Manage tenant billing and collections, promptly addressing any discrepancies.
• Reconcile bank statements and resolve any inconsistencies.

Cash Management:

• Monitor and manage cash flow to ensure adequate liquidity for each property.
• Prepare cash flow projections and recommend strategies for optimizing cash reserves.
• Coordinate with lenders on debt service payments and compliance with loan covenants.
• Collaborate with Asset Management and Construction teams on loan draws and capital calls to ensure effective capital utilization.

Team Leadership and Development:

• Supervise and mentor a team of property accountants, providing guidance for their professional growth.
• Foster a collaborative and high-performance team culture.
• Conduct performance evaluations and address any issues promptly.

Strategic Financial Planning:

• Provide financial analysis and insights to support decisions on property acquisitions, dispositions, and refinancing.
• Work closely with the investment team to evaluate potential investment opportunities.
• Assist in preparing financial models and due diligence materials for new acquisitions.
• Develop and implement strategies to enhance profitability and cost efficiency.

Qualifications:

• Bachelor’s degree in Accounting, Finance, or a related field; CPA or CMA preferred.
• At least 5 years of experience in property management accounting or a similar field, with a focus on multifamily properties.
• Proficiency in Yardi is required.
• Strong knowledge of GAAP and income tax basis of accounting.
• Excellent analytical and problem-solving skills, with high attention to detail.
• Proven ability to manage multiple priorities and meet deadlines in a fast-paced environment.
• Strong communication and interpersonal skills, with the ability to work effectively across teams.
• Leadership experience with a proven track record in developing and mentoring team members.

Benefits:

• Competitive salary ($175,000 – $225,000, depending on experience) with performance-based bonuses.
• Comprehensive health, dental, and vision insurance plans.
• 401(k) plan with company match.
• Paid time off and holidays.
• Opportunities for professional development.
• A collaborative and inclusive company culture.