What are the responsibilities and job description for the Controller position at MRV Properties?
The Controller at MRV Properties will be responsible for managing the accounting, financial reporting and property management financial operations for the company’s real estate portfolio.
The Controller will be responsible for ensuring accurate financial reporting of rental income, lease accounting, property tax, debt service and capital improvements. Additionally, the Controller will play a key role in working capital management, real estate investment analysis and financing compliance.
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Key Responsibilities:
Financial Reporting & Lease Accounting
- Oversee the monthly financial close process for all property holdings and related leasing entities.
- Ensure accurate lease accounting (ASC 842), including lease capitalization, amortization
schedules and right-of-use asset tracking.
- Prepare and consolidate monthly cash flow statements, rent rolls and capital improvement spending reports.
- Report on debt service obligations, loan covenant compliance and property-level financial performance.
- Reconcile intercompany balances with associated entities.
Property Cash Flow & Debt Management
- Manage cash flows related to rent collections, property taxes, capital improvements and loan payments.
- Ensure timely and accurate debt service payments and adherence to debt covenants on property level loans.
- Optimize working capital by improving rent collection cycles and managing AP related to property expenses.
- Track and forecast capex spending related to property improvements and new acquisitions.
Tax Compliance & Property Valuation
- Oversee property tax filings across multiple jurisdictions.
- Ensure accurate valuation of land, buildings and property improvements for financial reporting purposes, as needed.
- Collaborate with third-party tax advisors to minimize property tax liability and maximize investmentreturns.
Internal Controls & Process Improvement
- Implement strong internal controls over property-level financial reporting and cash management.
- Drive process improvements to accelerate monthly financial close, improve cash forecasting and reduce operational inefficiencies.
- Develop and maintain real estate investment models to assess ROI on new acquisitions,
renovations, or property sales.
Team Leadership & Development
- Responsible for AP, AR and lease management.
- Ensure timely rent collection and expense processing.
- Work closely with the CAO to evaluate future real estate investment opportunities.
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Key Qualifications:
- 2 years of progressive accounting experience, including real estate accounting, property management, or multi-entity consolidation.
- Deep understanding of lease accounting (ASC 842), real estate tax and debt compliance.
- Proven track record of improving working capital, cash flow forecasting and debt management.
- Experience managing capital improvements, depreciation schedules and property tax valuations.
- CPA preferred; real estate finance, REIT, or multi-location property experience highly preferred.
- Strong knowledge of real estate financial modeling, ROI analysis and cash flow management.
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Key Performance Metrics (KPIs):
- On-time debt service payments and compliance with all debt covenants.
- Improved property-level cash flows.
- Accurate and timely lease accounting compliance.
- Improved working capital cycles.
- Reconciled intercompany balances.
Job Type: Full-time
Pay: $130,000.00 - $155,000.00 per year
Benefits:
- 401(k)
- Dental insurance
- Health insurance
- Life insurance
- Paid time off
- Vision insurance
Schedule:
- Monday to Friday
Work Location: In person
Salary : $130,000 - $155,000