PROPERTY ACCOUNTANT

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.