Property Accountant Jobs

About The Position

Requirements

• Minimum 1 to 3 years of accounting experience
• Familiarity with lease agreements and commercial property financials, or a strong willingness to learn
• Proficient in Microsoft Excel
• Excellent analytical and problem-solving skills
• Effective communication and collaboration skills
• Ability to manage multiple deadlines across a portfolio of properties

Nice To Haves

• Degree in Accounting, Finance, or a related field preferred; an equivalent combination of education and experience will also be considered
• Property management or real estate accounting experience
• Experience with property management accounting software (e.g., Rent Manager)
• Experience working closely with internal and external groups such as property managers, tenants, and ownership groups

Responsibilities

• Prepare and analyze monthly financial statements for an assigned portfolio of commercial properties.
• Generate accurate and timely reports on property performance, income statements, and balance sheets.
• Conduct variance analysis and provide insightful commentary on financial results.
• Oversee lease administration processes, ensuring accurate and up-to-date records of lease agreements.
• Calculate and process rent escalations, common area maintenance (CAM) reconciliations, and tenant billings.
• Collaborate with property managers to address tenant financial inquiries and resolve discrepancies.
• Assist in the development and maintenance of annual property operating budgets.
• Work with the property management team to maintain cash flow forecasts, anticipating and reporting significant forecasted cash transactions.
• Monitor actual performance against budgets and provide recommendations for improvement.
• Handle accounts receivable for the assigned portfolio, including tenant billing and rent collection.
• Respond to vendor and property manager inquiries and process payment of approved invoices.
• Review coded invoices for accuracy and adherence to budgetary constraints, and approve or release payment once vendor bills have been entered into the system.
• Stay informed about accounting standards, industry regulations, and changes in tax laws affecting commercial property management.
• Ensure compliance with GAAP and other relevant accounting principles.
• Support tax return preparation for properties in the portfolio by providing accurate financial information and tracking deadlines.
• Conduct financial analysis on property investments, assessing profitability and identifying areas for improvement.
• Collaborate with stakeholders to provide financial insights and support strategic decision-making.
• Prepare monthly owner distributions according to budget, cashflow projections, capital needs, and owner direction.