Newton Highlands, Massachusetts
Property Management and Accounting Associate Job Opening in Newton Highlands, Massachusetts - Duties and Responsibilities
Reporting to the Principal, the Property Management and Accounting Associate will have significant responsibilities across the company and its portfolio. The Associate position is not a 9:00 AM-5:00 PM job. It is a position for someone who is eager to learn all aspects of real estate property management, accounting, and development. This is an opportunity for significant career and financial growth if performance is exceptional.
Specific responsibilities related to the day-to-day operations include:
Property Management (+/- 20 hours/week)
Assume on-site accountability for all property operations, including but not limited to: tenant relations, administration, financial management, maintenance and repair and capital projects, all in accordance with established Capstone policies and procedures;
Communicate with tenants and prospective tenants;
Convert existing accounting/property management software to Yardi beginning January 1, 2018;
Identify and vet new property management vendors, accompany vendors in apartments, as necessary;
Coordinate tenant renewals and, if non-renewal, coordinate with marketing brokers to lease available units to qualified applicants far in advance of lease expirations. If Associate is interested in leasing Capstone?s units, Capstone will provide an exclusive listing agreement with Associate, contingent on successful leasing performance, if Associate has his or her salespersons license, or desires to obtain his or her salespersons license, and is affiliated with a third-party licensed brokerage company;
Screen potential residents pursuant to Capstone?s application process;
Draft leases and lease amendments;
Ensure that vacant units are immediately prepared for re-occupancy, and that they are turned over to the new resident(s) in excellent condition, consistent with Capstone?s standards of business practice;
Operate Capstone?s properties with fiscal responsibility; using all reasonable cost saving measures to stabilize expenses;
Use all reasonable means to ensure that rent is received on time in accordance with the payment terms contained within the applicable occupancy agreement. Seek remedy for delinquencies through the court system as required;
Closely monitor monthly operating statements and provide supporting documentation to the Principal for all negative variances and for any substantial positive variances that could ultimately have a negative financial impact on the property;
Under the direction of the Principal, prepare the annual operating and capital budgets, accurately, completely and in a timely manner;
Develop capital needs requirements for all properties;
Perform physical inspections of common areas and grounds of all properties no less than once per week. Provide weekly property reports including photos and written recommendations to Principal;
Ensure that maintenance requests are written and appropriately assigned for any necessary repairs or to correct noted deficiencies. Complete maintenance tasks as feasible, retain third party vendors for technical maintenance work (HVAC, electrical, plumbing, etc.). Follow up and monitor completion;
Draft and maintain annual preventative maintenance schedule. Conduct annual preventive maintenance unit inspections in accordance with policy and track the completion of resulting work orders;
Notify Principal immediately of the occurrence of extraordinary events or emergencies. Be available on weekends and after hours to respond to emergencies, on-call schedule to be mutually agreed upon by Principal and Associate;
Read water bills at properties monthly and bill residents quarterly; and
Performs other duties as required and determined by Associate and Principal.
Bookkeeping (+/- 12.5 hours/week)
Drive month-end-close activities;
Analyze accounts receivable and accounts payable and respond timely;
Assist in the preparation of audits, financial statements, tax returns and varied fiscal reports;
Review accounting documents to ensure accuracy of information and compliance;
Assist the accounts payable process by matching and entering vendor invoices;
Prepare bank account reconciliations on a monthly basis;
Prepare G/L entries;
Prepare rent rolls;
Perform all duties relating to cash receipts, invoice processing and record management accurately and in a manner consistent with Capstone?s policy and standards of business practice;
Process disbursements;
Prepare month-end and year-end statements. Provide year-end statements to lenders, equity providers, and Capstone?s accountants;
Reconcile credit card statements and follow up on any expense questions;
Maintain accounting records and files;
Issue year-end 1099?s to vendors; and
Complete development bank and investor requisitions.
Real Estate Development (+/- 7.5 hours/week)
Capstone?s current developments: 274 Friend Street, Boston and 1791 Massachusetts Avenue, Cambridge;
Assist with permitting, including drafting zoning applications, preparing for and attending neighborhood and City meetings, and maintaining permitting websites;
Assist with due diligence, including coordinating environmental assessments, zoning and permitting analyses, survey and title reviews, drafting and reviewing contracts, preparing rent and sales comparables for appraisers and investors;
Assist with project financing, including the drafting of investor memorandum, compiling local, state and federal financing applications, and preparing for and attending investor and lender meetings;
Compile and review invoices and draft bank and investor requisitions (see bookkeeping above);
Explore and investigate off-market opportunities by networking with brokers and other industry professionals, run initial feasibility studies and draft proposals and recommendations for Principal to review;
Assist with the design and construction process, prepare for and attend design and construction meetings, provide feedback to architect, its consultants, owner?s consultants, and contractor during design and construction;
Assist with the project management of the entire development team, including architect, owner?s design consultants, legal counsels, accountants, lenders, etc.; and
Submit applications for industry awards, draft press releases, organize groundbreaking and opening ceremonies, etc.
General Duties
Prepare follow-up lists for weekly meetings with Principal;
Respond to phone calls and emails in a timely manner;
Own responsibility for all office administrative tasks, including filing hard copies and electronic files, maintaining invoices and bank statements, ordering office supplies, etc.; and
Attend conferences, classes, and other beneficial educational opportunities (to be paid for by Capstone).
Qualifications
Associates or Bachelor's Degree in management, real estate, finance, accounting, or other related field and 1-2 years relevant experience required;
Proficient or expert with Sage 50 and/or Yardi, or willingness to learn Sage 50 and/or Yardi;
Fluency in Microsoft Office software, including intermediate or advanced skills in Excel;
Accounting and financial knowledge;
Dynamic individual with strong interpersonal, problem-solving, and written and oral communication skills;
Ability to operate in an entrepreneurial, demanding environment;
High level of independence and motivation required;
Must be able to multi task to meet required deadlines; and
Motivated by the mission of affordable housing and downtown revitalization.
Job Type: Full-time
Required education:
Associate
Required experience:
Accounting: 1 year
Property Management: 1 year
Bookkeeping: 1 year
Required license or certification:
Driver's License
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