Property Accountant

RED Development•Phoenix, AZ

About The Position

The person holding this position will have the responsibility for performing all general accounting and lease administration functions related to a portfolio of assigned commercial real estate properties. These functions include general ledger, accounts receivable, lease database administration, accounts payable, cash management, expense recovery reconciliations, fixed assets, financial reporting, and some involvement in the annual budget process. A typical portfolio of properties includes 3 to 6 retail shopping centers that typically range in size from 100,000 to 800,000 square feet of gross leasable area.

Requirements

Bachelor’s degree in accounting from a four-year college or university
Minimum two years property accounting experience.
Intermediate or advanced knowledge of MS Excel.

Nice To Haves

Commercial real estate accounting experience, preferably in retail or office, including common area maintenance expense reconciliation, lease administration, and budgeting experience.
Experience with MRI Accounting software.

Responsibilities

Prepare monthly tenant charges and assists property managers in emailing monthly rent statements.
Receive and respond to tenant inquiries regarding account status. Implement all tenant account adjustments originated by General Manager.
Ensure tenant receipts are posted in a timely manner so that delinquency reports are up to date.
Read and interpret lease terms, particularly for new and amended leases, and prepare abstract information for entry into the accounting system.
Prepare year-end tenant reconciliations for management’s approval.
Ensure payables are properly approved and paid in a timely manner, including debt service and real estate tax payments.
Prepare income statement and balance sheet for annual budgets and business plans, and provide assistance to property management with operating expenses.
Prepare monthly financial statements and other reporting deliverables for operating properties including explaining income variances and assisting property management with expense variances.
Prepare monthly distribution analysis along with a 24-month rolling cash flow projection.
Prepare monthly financial statements for ownership entities and record its investment in property level entities.
Receive construction/operating activity downloads and verify accuracy in the general ledger.
Prepare quarterly debt covenant calculations to ensure reporting compliance.
Prepare monthly bank reconciliations. Monitor cash positions as needed to maintain appropriate cash reserves.
Perform general ledger account analysis and prepare journal entries.
Maintain fixed asset accounting records and reconcile to the general ledger.
Prepare tax packages for third-party tax preparers.
Respond to inquiries from on-site property management personnel, corporate accounting office, asset management, leasing agents, and auditors. Assist other departments with inquiries and communications with owners and lenders.
Other duties, as assigned.