Property Accountant

Overview

Manages financial operations, reporting, and budgeting for assigned properties.

Key Responsibilities

• budget forecasts
• financial reporting
• cash flow
• reconciliations
• variance analysis
• audit support

Tasks

Cash Flow Analysis The Property Accountant is responsible for managing the financial operations of assigned properties, ensuring accurate and timely reporting, and supporting month-end, year-end, and budget processes. This role may require extended hours during critical periods such as month-end close, year-end audit preparation, and budget season. This is an in-office position. -Update quarterly forecasts and revised budgets for base rent, percent rent, CAM revenue, tax revenue, operating expenses, capital expenditures, tenant allowances, broker commissions, and cash projections. -Record and analyze project costs -Accrue and amortize expenses including tax, PPD insurance/taxes, management fees, utilities, and CAM/non-CAM A/P. -Perform CAM and insurance true-up billing, tax true-up billing by tenant. -Create annual budget presentation packages for lenders, partners, and executive review. -Reconcile bank accounts, escrows, replacement reserves, and PPD expense schedules. -Prepare and distribute financial reporting packages for partners and lenders per agreement terms (statements, rent rolls, certifications, DSCR, etc.). -Accrue base rent, percentage rent, tax revenue, and CAM revenue based on lease terms. -Prepare and update cash flow analysis by center to determine cash available for partner or corporate distribution. -Perform monthly and project reconciliations to ensure financial data is accurate and complete. -Ensure project financial activities comply with relevant regulations and review contracts. -Review operating statements and provide preliminary variance explanations for each property. -Record new loans/refinancing, acquisitions, and disposition entries (including seller prorations). -Provide current year vs. prior year variance explanations. -Ensure fixed assets are tied to asset book reports. -Prepare auditor support packages, answer auditor questions, and review audit drafts. -Prepare annual budgets with input from property managers and leasing reps. -Prepare accurate and timely financial reports -Work closely with project managers, finance teams, and other stakeholders to provide financial support. -Review A/R aging, tax A/R, CAM A/R, principal balances, interest expense payable, management fee payable, unearned rent payable, and bad debt reserves. -Accrue capital expenditures (segregating operations vs. development). -Update forecast ledgers as needed. -Prepare actual vs. budget variance explanations for operating statements, base rent, and annual forecasts, using materiality thresholds.

Requirements

• property accounting
• real estate
• accounting software
• excel
• bachelor's degree
• analytical

What You Bring

-Experience in property accounting or real estate finance is a plus. -Ability to work extended hours during peak periods. -Proficiency in accounting software and Microsoft Excel. -Bachelor’s degree in Accounting, Finance, or related field preferred. -Strong analytical, organizational, and communication skills.

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