ACCOUNTANT in Gurnee, Illinois at A Property Management Company

Ludwig and Company is a property management company with over 60 properties in the Midwest Region. We are looking for a property accountant to join our team.

The Property Accountant manages the financial accounting and reporting functions for a portfolio of affordable housing properties, including Section 8 and Section 42 (LIHTC) communities. This role ensures accurate and timely financial records, compliance with HUD, IRS, and other regulatory requirements, and supports property management teams with budgeting, reporting, and audit preparation.

Key Responsibilities:

Financial Accounting & Reporting

• Maintain general ledger accounts and prepare monthly, quarterly, and annual financial statements for multiple affordable housing properties
• Reconcile bank statements, tenant ledgers, and vendor accounts accurately and timely
• Process accounts payable and accounts receivable, including rent collections, vendor invoices, and management fees
• Ensure compliance with accounting principles and regulatory requirements specific to Section 8 and Section 42 programs

Budgeting & Forecasting

• Assist in the preparation and monitoring of property operating budgets in collaboration with property managers and finance leadership
• Analyze variances between actuals and budgets, providing detailed explanations and recommendations
• Prepare cash flow projections and assist with financial planning initiatives

Regulatory Compliance & Audit Support

• Ensure accurate recordkeeping and reporting for HUD, IRS, and other regulatory agencies, including preparation of compliance reports as needed
• Support property managers during audits and inspections by providing requested financial documentation and explanations
• Maintain compliance with LIHTC requirements, including monitoring eligible costs and maintaining required documentation

Systems & Process Improvement

• Utilize property management and accounting software (e.g., Yardi, OneSite, RealPage) for accurate data entry and reporting
• Identify opportunities to improve accounting processes, enhance internal controls, and increase efficiency
• Assist with implementation of new accounting systems or upgrades

Collaboration & Communication

• Work closely with property management, maintenance, and compliance teams to resolve financial discrepancies and support operational goals
• Communicate financial information clearly to non-financial staff and management
• Maintain positive relationships with vendors, residents, and regulatory agencies as needed

Qualifications:

Education & Experience:

• Bachelor’s degree in Accounting, Finance, or related field preferred; relevant work experience may be considered
• Minimum 3 years of accounting experience, preferably in property management or affordable housing
• Knowledge of Section 8 and Section 42 program financial requirements and compliance a strong advantage

Skills & Abilities:

• Proficient in accounting software such as Yardi, OneSite, RealPage, or similar platforms
• Strong understanding of GAAP and financial reporting standards
• Detail-oriented with excellent organizational and analytical skills
• Ability to manage multiple priorities and deadlines effectively
• Strong communication skills, both written and verbal