Accounts Receivable Specialist

Job Description

Job Description

Benefits:

• 401(k)
• Dental insurance
• Employee discounts
• Health insurance
• Paid time off

Position Overview:

Cornell Pace Inc., a growing property management company, seeks an Accounts Receivable Specialist with hands-on Low-Income Housing Tax Credit (LIHTC) experience and knowledge of FHEPS and CityFHEPS rental assistance. This role connects affordable housing leasing and compliance with accurate resident billing, subsidy collections, and accounts receivable reporting.

The ideal candidate understands how income eligibility, rent restrictions, lease renewals, recertifications, and agency-approved share changes affect lease charges. The specialist will work closely with leasing, compliance, property management, and accounting to maintain accurate household and subsidy ledgers and resolve arrears promptly.

Key Responsibilities:

Lease Charges and Share Changes:

• Review executed leases, renewals, certifications, and agency notices before establishing or adjusting charges in Yardi Voyager; confirm the amount, charge code, responsible payer, and effective date.
• Maintain separate household and subsidy charges and ledgers. Process approved changes to tenant contributions, agency shares, credits, and retroactive adjustments with supporting documentation and required approvals.
• Reconcile total billed rent to the applicable lease and approved subsidy allocation. Investigate gaps between contract rent, agency payments, and household responsibility before making changes.
• Distinguish LIHTC rent limits, legal or preferential rent where applicable, subsidy payment standards, and approved tenant contributions; escalate conflicts to leasing or compliance rather than assume the household owes the difference.

  Rental Assistance and Collections:

• Post and reconcile resident receipts and agency payments, including checks, ACH deposits, consolidated remittances, advance payments, and retroactive payments; apply funds to the correct resident, payer, and period.
• Manage FHEPS and CityFHEPS payment follow-up, renewals, rent increase submissions, and modification requests. Track agency approvals and their effective dates through resolution.
• Investigate missing or partial payments, suspensions, terminations, recoupments, unapplied cash, and credit balances. Coordinate reinstatement efforts and document follow-up with agencies and residents.
• Review household and subsidy aging separately, identify the cause of arrears, and provide accurate ledgers to management or legal staff. Do not transfer unpaid subsidy amounts to a household without appropriate review and authorization.

Additional Responsibilities:

Affordable Housing Compliance and Reporting:

• Review applicable income limits by household size, area median income (AMI) designation, location, and effective year; coordinate eligibility questions and income or asset documentation with compliance staff.
• Understand how LIHTC rent limits, unit designations, utility allowances, regulatory agreements, and applicable rent regulations affect billing. Recognize that an income change does not automatically change rent in every affordable housing program.
• Coordinate lease renewals and required annual or interim recertifications, including household composition and income changes; ensure approved results are reflected accurately in lease charges.
• Maintain trackers for subsidy expirations, pending increases, share changes, and unresolved payment issues. Prepare aging summaries and reconciliations for month-end reporting.
• Support audits and agency reviews with complete records and a clear audit trail. Respond respectfully to resident inquiries, protect confidential information, and perform related duties as assigned.

Required Qualifications:

• At least two years of relevant experience in affordable housing accounts receivable, leasing, occupancy, or subsidy administration, including hands-on experience with LIHTC properties.
• Working knowledge of affordable housing income eligibility, AMI limits, rent restrictions, utility allowances, certifications, and recertifications, and the ability to identify when compliance review is needed.
• Practical knowledge of FHEPS and CityFHEPS, including renewals, agency approvals, tenant contributions, and the effect of payment or share changes on household and subsidy ledgers.
• Experience reviewing tenant ledgers, reconciling agency remittances, researching arrears, and processing supported lease charge adjustments.
• Proficiency with Microsoft Excel, including sorting, filtering, formulas, and reconciliation worksheets; familiarity with Yardi Voyager or comparable property management software
• Strong attention to detail, organization, follow-through, and written and verbal communication. Ability to manage a high-volume workload and meet deadlines while working collaboratively.

Preferred Qualifications:

• Associate or bachelor’s degree in accounting, finance, business administration, or a related field; equivalent relevant experience will be considered.
• LIHTC certification such as HCCP, TCS, or an equivalent credential; direct experience with Yardi Voyager affordable housing and lease charge functions.
• Experience with NYCHA, HPD, HCR, or other Section 8 administrators, and familiarity with New York rent stabilization and overlapping affordability requirements.
• Bilingual English and Spanish.