Property Accountant

DEPARTMENT: Accounting

REPORTS TO: Property Accounting Manager

STATUS: Full-Time, Salaried, Exempt

About The Role

The Property Accountant plays a vital role in our Property Accounting Department, focusing on enhancing the financial management and reporting of our real estate portfolio. This position requires a solid foundation in property accounting, meticulous attention to accuracy, and effective collaboration with cross-functional teams. The Property Accountant will ensure precise financial data, conduct thorough analyses, and contribute to the overall success of our property accounting operations.

What You Will Do

• Maintain precise and current financial records for our property portfolio. Record transactions, process invoices, and reconcile accounts to ensure financial data integrity.
• Assist in preparing timely and accurate financial reports, including income statements, balance sheets, and cash flow statements; Collaborate with the Property Accounting team to analyze variances and provide insights.
• Monitor property-related expenses such as utilities, maintenance, and repairs. Ensure expenses are correctly allocated and adhere to budgetary guidelines.
• Support lease accounting processes by tracking lease terms, rent payments, and maintenance obligations.
• Aid in developing property budgets and forecasts in partnership with Property Management and Finance teams; Monitor actual performance against budgeted expectations.
• Conduct monthly bank and account reconciliation to identify and resolve discrepancies; investigate and rectify inconsistencies.
• Calculate and prepare detailed annual CAM reconciliations and other expense recoveries for tenants, based on lease terms and property expenses.
• Monitor property level check runs by bank account, submit any funding requests, and approve for final payment.
• Collaborate with Property Managers, Asset Managers, and other departments to gather pertinent financial data and provide necessary support.
• Ensure compliance with accounting standards, company policies, and regulatory requirements; support audit processes and respond to auditor inquiries.
• Continually assess and enhance property accounting processes to improve efficiency and accuracy; identify opportunities to streamline workflows and enhance data quality.
• Utilize property management and accounting software to process transactions and maintain financial records; leverage technology to enhance reporting capabilities.
• Clearly and succinctly communicate financial information to both financial and non-financial stakeholders; support in explaining financial results and trends effectively.

• Strong knowledge of accounting principles and practices.
• Proficiency in financial reporting and analysis, with advanced Excel skills.
• Experience with MRI property management and accounting software; familiarity with Spreadsheet Server is preferred.
• Detail-oriented with exceptional organizational skills.
• Effective communication and interpersonal skills.
• Ability to collaborate effectively in a team environment and adapt to shifting priorities.
• Strong problem-solving skills and a proactive approach to tasks.

• Bachelor’s degree in Accounting, Finance, or a related field.
• 2-4 years of experience in property accounting or similar financial roles.

• This role primarily operates in a professional office environment and routinely uses standard office equipment.
• Ability to travel as needed. This position may occasionally require the employee to work outside the office, visiting properties or attending meetings with external stakeholders.
• While performing the duties of this position, the employee is regularly required to talk and hear; move about the office; must be able to lift, carry, or push/pull up to (15) pounds.
• This is a full-time position. Days and hours of work are Monday through Friday, 8:00am to 5:00pm. This position may require longer hours and occasional weekend work as job duties demand.

This extends to all aspects of employment, including hiring, recruitment, promotion, termination, layoff, recall, leave of absence, compensation, benefits, training, and apprenticeship. Our hiring decisions are based solely on qualifications, merit, and business needs at the time.