Senior Property Accountant

Interstate Equities Corporation (IEC) The Position: Senior Property Accountant Reports To: Controller Location: Los Altos, CA Firm Summary: IEC is a vertically-integrated real estate investment firm specializing in value-add, multifamily in the Bay Area, Los Angeles and San Diego markets.

We focus on adding value through opportunistic investing, strategic repositioning and asset management.

IEC has acquired and sold more than 100 apartment communities since inception and transacted on $2b in assets since 2002.

Founded in 1981, our firm has an exceptional 40-year track record of risk-adjusted returns.

IEC seeks team members with institutional standards, yet an entrepreneurial spirit, to participate in its next growth phase.

Position Summary: The Senior Property Accountant is responsible for actively leading the completion of monthly property financials and providing guidance to the existing accounting staff.

The Senior Property Accountant will be a lead contributor on other department goals.

They will also assist the Controller and team as directed or through personal initiative.

Overall Responsibilities Include: Maintain month-, quarter-, and year-end working papers and schedules, assist with any audits or reviews Maintain an accurate and complete trail of supporting documentation for all financial and bookkeeping activities Analyze root causes of accounting discrepancies and provide corrective action Develop process improvements.

Improve on the standard operating procedures and workflow.

Help to establish policies, procedures, internal controls, best practices and workflow for assigned areas Alleviate department bottlenecks and recommend changes to improve the overall level of department throughput Safeguard assets and assure accurate and timely recording of all transactions by enhancing disciplines of internal audits, controls and checks across all departments Specific Monthly Duties Include: Record in GL cash transactions, lender draw funding, bank fees and interest income Maintaining WIP unit trackers for all properties Using cash management techniques to determine invoices to be paid via weekly check runs Process and post miscellaneous cash receipts Reconcile all properties rent charges and make correcting adjustments as needed Reconcile all properties accounts receivable and make correcting adjustments as needed Assist onsite personnel to correct misapplied resident checks to correct account Review accounts receivable and post write-offs and set up allowances according to IEC’s policies and procedures Bank reconciliations for all properties and entities Balance sheet account reconciliations and P/L accruals for assigned properties Manage Fixed Assets System and place completed WIP projects into service upon review and approval of the Asset Management team Prepare and present daily journal entries, recurring transactions, monthly, quarterly and year-end financials Prepare monthly accruals with appropriate support for property financial reporting Prepare and review financial statements for all properties: monthly, quarterly and year-end Provide further analysis for material differences on the P/L vs.

Budgets Compile capital expenditure lender draws for monthly submission Other duties as assigned Candidate Qualifications: BS in Accounting 5 years of institutional real estate experience in GAAP and Cash basis accounting Advanced MS Excel skills Yardi Voyager Software experience Effectively handle multiple projects simultaneously in a dynamic, growth environment Ability to work independently and as part of a team while taking responsibility for new tasks Excellent communication skills, verbally and in writing Organizational skills and extreme attention to detail A high sense of urgency Compensation: IEC offers a competitive compensation package.