Senior Property Accountant

Overview

Manages all accounting, tax, billing, budgeting, and financial reporting for real estate properties.

Key Responsibilities

• yardi accounting
• cam billing
• tax filings
• loan compliance
• cash forecasting
• financial reporting

Tasks

The Senior Property Accountant perform/manage all aspects of accounting and financial management for assigned properties. -Work with Property Manager to review vendor invoices to determine if expense is subject to CAM -Maintain accuracy and integrity of general ledgers -Review the Commercial Billing Report and approve monthly rent charges -Calculate estimated and actual escalation billings, CAM, Insurance and RE Taxes – including the annual reconciliation. Administer correspondence and invoicing process related to escalations. -Work with Construction Coordinator to review vendor invoices to determine if expense is subject to CAM -Prepare annual tax-based financial statements and full work papers -Prepare yearly filings for NYC TC’s, NYC RPIE’s and Annual Income and Expense filings for various municipalities -Monitor compliance with loan covenants on an ongoing basis, including Debt Service Coverage Ratios, maturity dates, minimum balance requirements and other potential events of default -Produce other work papers and analyses as required for each individual property -Prepare cash forecasting statements when required -Verify and analyze all general ledger accounts -Record journal entries provided by outside CPA firm for tax items -Reforecast budgets when requested -Monthly/quarterly reporting to banks -Calculate charges related to tenant move outs -Review and approve tenant adjustments and other write offs -Review all tax returns prepared by outside CPA firm, including reconciling tax returns to our books and records -Review loan agreements related to properties and assure compliance with all reporting and reserve requirements -Prepare, enter and review all required accounting information into Yardi budget module -Perform an analytic review of all revenue and expense accounts -Oversee activities and provide support to the Construction Accountant -Calculate true up billings -Prepare pro forma valuations for financing of properties when needed -Meet with the VP of Construction and Property Management, the VP of Leasing and Property Management Operations, and/or in-house counsel to resolve vague or unclear lease provisions -Reconcile and prove mortgage balances and related escrow accounts and interest expense, etc., to year-end bank statements -Prepare journal entries needed to adjust or reclassify account balances -Prepare/compile comprehensive quarterly reporting packages to communicate all financial data related to the property for: -Reporting to outside partners -Manage security deposits -Review all vendor invoices for the following: -Calculate and bill all monthly property and construction management fees -Prepare schedules for lease commissions, mortgage costs additions, write-offs and amortization -Project short-term and medium-term cash needs and work with VP of Accounting to manage cash flows -Interact with banks to resolve discrepancies and problems -Prepare CAM invoices for mailing to tenant, including true up, detail of CAM expense pool, and next year’s estimate -Review leases for applicable CAM provisions and document CAM related provisions accordingly -Reconcile amount of deposit between Yardi and lease documents -Calculate individual CAM pools for each tenant based on the specifics of their lease -Review tax returns for any overlooked tax issues -Prepare filings for payment of all taxes related to properties -Handle special projects and requests -Prepare analysis of expenses with detailed descriptions -Monitor individual bank accounts for security deposits -Review all accounts for correctness -Calculate estimated CAM for following year -Review and document all fixed asset additions, retirements and depreciation

Requirements

• bachelor's
• 5-7 years
• yardi
• excel
• communication
• multitasking

What You Bring

-Record K-1 activity for pass through entities -Bachelor’s degree in Accounting, Finance or Business Administration -Minimum of 5-7 years of experience in Commercial Property Accounting (Required) -Must be able to lift, carry, push, pull a maximum of 30 lbs. -Experience with Yardi Voyager preferred -Excellent oral and written communication skills -Time management skills -Basic proficiency in spreadsheet and word processing applications (Excel and Word) -Excellent organizational skills -Ability to perform routine office tasks that includes operating a computer for long periods of time, sitting, filing and communicating on the phone -Be able to multitask and handle multiple projects

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Benefits

-Final CAM charges prior to tenant move out and release of security deposit -Property taxes, LLC fees, Biennial fees -Sales tax -Final taxes and insurance, etc., due from tenant before move out

About Simone Development Companies

-Focuses on acquiring, developing, and managing a diverse portfolio of properties, including office buildings, retail spaces, and residential communities. -Operates across various sectors with expertise in residential, commercial, and industrial real estate. -Known for innovative urban revitalization, transforming underutilized areas into thriving mixed-use developments. -Has a strong presence in the New York metropolitan area, completing numerous high-profile projects such as office parks and luxury apartments. -Engages in long-term partnerships with government entities and private organizations to create sustainable developments that support economic growth and community improvement.

Sector Specialisms