Job Title: Property Accountant
Job Summary: Property Accountants play a crucial role in our multifamily real estate company's finance team. They oversee and manage financial aspects related to our property portfolio.
Values Modeled:
• Respect: Treat people with courtesy and kindness, valuing inclusion and diversity.
• Accountability: Honor commitments, focus on delivering solutions, and take ownership of responsibilities.
• Integrity: Act with honesty, honor, and transparency in all activities.
• Service: Be socially conscious, proactive thinkers, committed to improving well-being.
• Excellence: Strive for excellence, adapt, innovate, and exceed expectations.
Essential Duties and Responsibilities:
Financial Reporting:
• Prepare and analyze monthly financial statements for each property, ensuring accuracy and compliance with accounting standards.
• Collaborate with property management teams to collect and verify financial data, including income, expenses, and capital expenditures.
• Generate accurate and timely detailed financial reports for stakeholders, providing insights into property performance and financial trends.
• Post monthly journal entries and prepare monthly financial reports for a portfolio of properties, including reclasses and accruals provided by onsite community managers.
• Prepare lender replacement reserve draws as needed.
• Record recurring monthly journal entries and update month-end reporting workbook to reconcile balance sheet accounts.
• Coordinate the accrual process with the on-site managers monthly.
• Review and code invoices in the AP processing system.
• Reconcile all bank accounts and credit card statements monthly.
• Complete routine real estate tax reconciliations.
• Assist with the preparation of annual operating budgets.
• Attend monthly financial review meetings and provide insights to leadership related to financial reporting.
• Oversee treasury management, engaging in short-term and long-term cash planning on a daily and weekly basis.
• Closely monitor current cash balances held by properties.
• Provide forecasts of cash requirements routinely to management.
• Assist in the calculation of cash available to distribute when applicable.
• Assist management with special projects and other tasks assigned.
Accounts Payable and Receivable:
• Process and review property-related invoices, ensuring accuracy and proper coding.
• Manage tenant billing and collections, addressing any outstanding balances and coordinating with property management on delinquencies.
• Reconcile property bank accounts and resolve discrepancies promptly.
Tax and Audit Compliance:
• Work with external tax consultants to ensure timely and accurate filing of property-related tax returns.
• Stay informed about changes in tax laws and regulations that may impact property accounting practices.
• Assist in the preparation of schedules and documentation for annual audits.
Education and Experience:
• Required: Bachelor’s degree in accounting, finance, or related field.
• Preferred: CPA designation.
Competencies:
• Proficiency in accounting software (e.g., Onesite, MRI).
• Advanced Excel skills.
• Knowledge of Generally Accepted Accounting Principles (GAAP).
Skills:
• Analytical Thinking: Use data and financial analysis to identify trends and improve property financial performance.
• Attention to Detail: Ensure accuracy in financial reporting and accounting processes.
• Time Management: Efficiently manage multiple tasks and meet deadlines.
• Adaptability: Be flexible to changes in the property portfolio and industry.
• Communication: Clearly convey financial information to internal stakeholders and external partners.
• Uphold high ethical standards and integrity in all financial activities.
• Commit to continuous learning on accounting standards, tax regulations, and industry best practices.
