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Job Description
Senior Accountant Magnus Capital Partners - 1.0 Grand Rapids, MI Job Details Full-time $60,000 - $65,000 a year 1 day ago Benefits Disability insurance Health insurance Dental insurance 401(k) Paid time off Parental leave Vision insurance 401(k) matching Employee discount 403(b) Opportunities for advancement Life insurance Retirement plan Paid sick time Qualifications Teamwork Financial data reconciliation Property management tools Housing and Urban Development (HUD) regulations Yardi Filing Partnership tax expertise Bachelor's degree Attention to detail GAAP Accounting experience within real estate Full Job Description The Senior Accountant is an integral member of the Finance & Accounting team, responsible for a broad range of accounting functions spanning affordable housing residential properties and commercial real estate assets. This role supports the full accounting cycle for a mixed portfolio that includes Low-Income Housing Tax Credit (LIHTC) partnerships, HUD-assisted residential properties, state-financed affordable housing, and commercial spaces. The Senior Accountant collaborates cross-functionally with property management, asset management, and development staff. The ideal candidate brings solid affordable housing accounting experience, a working knowledge of commercial real estate accounting fundamentals — including CAM reconciliations and commercial lease administration — and the organizational skills to manage multiple entities and reporting deadlines simultaneously.
KEY RESPONSIBILITIES
General Accounting & Month-End Close Perform full-cycle accounting for an assigned portfolio of residential and commercial entities, including journal entries, account reconciliations, and general ledger maintenance Execute timely month-end and year-end close processes, including prepaid amortization, accruals, depreciation, and intercompany eliminations Reconcile balance sheet accounts monthly and resolve variances in a timely manner Maintain fixed asset schedules and depreciation calculations across the portfolio Process and code invoices, ensure proper approvals, and support accounts payable and accounts receivable functions Affordable Housing Program Accounting Maintain accurate books for LIHTC limited partnerships in compliance with partnership agreements and investor reporting requirements Support preparation of annual cost certifications and track eligible basis, qualified costs, and placed-in-service documentation Assist with financial reporting for HUD-assisted properties, including preparation of
REAC/FASS-MF
submissions and residual receipts calculations Track and reconcile reserve accounts (replacement reserves, operating reserves, security deposits) per regulatory agreement requirements Prepare financial reports required by state housing finance agencies, HOME program funders, and other public funding sources Support annual compliance reporting to LIHTC equity investors and syndicators per limited partnership agreements Commercial Real Estate Accounting Maintain accounting records for commercial properties including retail, office, and mixed-use assets within the portfolio Administer commercial lease files, ensuring accurate recording of base rent, percentage rent, rent escalations, abatements, and tenant improvement allowances Prepare and process annual Common Area Maintenance (CAM) reconciliations, comparing actual expenses to estimated charges billed to tenants throughout the year Calculate and bill CAM, real estate tax, and insurance (NNN) charges to commercial tenants in accordance with lease terms Reconcile commercial tenant ledgers, generate rent statements, and manage collections follow-up in coordination with property management Review and abstract commercial lease terms to ensure accurate billing setup and ongoing lease compliance tracking Coordinate with property management on tenant move-ins, move-outs, and lease modifications, and update accounting records accordingly Track tenant security deposits and letters of credit in compliance with lease agreements and applicable state law Financial Reporting Prepare accurate and timely monthly financial statements for assigned entities, including income statements, balance sheets, and cash flow summaries Produce variance analyses comparing actual results to budget, providing narrative explanations of significant variances Assist in preparation of annual operating budgets for assigned properties in coordination with property management and asset management Compile financial data for lender, investor, and agency reporting packages on a monthly, quarterly, and annual basis Support preparation of year-end audit workpapers and respond to auditor requests for assigned entities Audit, Tax & Compliance Support Serve as a primary point of contact for external auditors on assigned entities; prepare audit schedules, confirmations, and supporting documentation Assist with preparation of partnership tax returns (Form 1065) and related K-1 schedules, coordinating with the Controller and external tax preparers Maintain organized and current workpaper files, lease abstracts, and compliance documentation in the company's document management system Assist in monitoring compliance with loan covenants, regulatory agreements, and Land Use Restriction Agreements (LURAs) Systems & Process Improvement Utilize property management and accounting software (Yardi, MRI, RealPage, or equivalent) to maintain records, generate reports, and support portfolio-wide initiatives Identify opportunities to streamline accounting processes, improve accuracy, and enhance reporting efficiency Assist with special projects including system implementations, policy updates, and portfolio acquisitions or dispositions
QUALIFICATIONS
Required Education & Experience Bachelor's degree in Accounting, Finance, or a closely related field required 5-7 years of progressive accounting experience, with a minimum of 3 years in affordable housing Demonstrated working knowledge of LIHTC (Section 42) program requirements and partnership accounting Experience with HUD-assisted housing programs and related financial reporting (REAC, FASS-MF, HAP contracts) Hands-on experience with commercial lease accounting, including CAM reconciliations and NNN lease billing Proficiency with accounting or property management software (Yardi, MRI, RealPage, or comparable platform) Preferred Qualifications CPA license or active pursuit of CPA certification strongly preferred Experience with state housing finance agency programs including HOME, CDBG, and tax-exempt bond financing Familiarity with HUD Uniform Financial Reporting Standards (UFRS) and REAC financial assessment process Experience supporting annual audits for LIHTC partnerships and/or HUD-regulated entities Prior experience working within a mixed affordable/commercial real estate portfolio Knowledge, Skills & Abilities Solid working knowledge of GAAP as applied to real estate and limited partnerships Understanding of IRS Section 42 LIHTC regulations and the financial compliance requirements of affordable housing programs Familiarity with commercial lease structures (NNN, gross, modified gross) and the mechanics of CAM reconciliation Strong analytical and problem-solving skills with a high degree of accuracy and attention to detail Ability to manage multiple entities and competing deadlines without sacrificing quality Proficient in Microsoft Excel (pivot tables, VLOOKUP/XLOOKUP, financial modeling); experience with financial reporting tools a plus Effective written and verbal communication skills; comfortable working with property managers, lenders, and auditors Self-motivated and organized, with a collaborative working style and commitment to the organization's affordable housing mission
Pay:
$60,000.00 - $65,000.00 per year
Benefits:
401(k) 401(k) matching 403(b) Dental insurance Disability insurance Employee discount Health insurance Life insurance Opportunities for advancement Paid sick time Paid time off Parental leave Retirement plan Vision insurance
