Property Accountant

Position : Property Accountant
Working Hours : MF 9AM6PM CT
Salary Range : $1500$2000/month

ABOUT THE COMPANY

The company has been in the commercial real estate business for 85 years. Its property management portfolio currently consists of office and retail properties covering approximately 13.9 million square feet. A core conviction of the Company’s Principals is the belief that each employee is responsible for making an important contribution to the success of the Company as well as the performance of the properties in the Company’s portfolio. This expectation is not limited by the specific parameters of the job description. It is our expectation that each employee will offer his/her help wherever and whenever reasonably necessary to ensure the success of the Company’s endeavors. This summary is not intended to be allinclusive; it is simply meant to be used as a guide and may be revised from time to time at the sole discretion of the Company.

General Position Summary:

Performs a variety of professional level accounting duties in support of a diverse portfolio including preparing and analyzing financial statements and monthly close of the general ledger. The position is responsible for the overall financial accuracy of property management reports financial statements journal entries and general ledgers. The Senior Property Accountant reports to the Controller to carry out responsibilities in a manner that is consistent with the high standards of the Company for the accounting and finance department.

Essential Functions/Major Responsibilities:

• Prepare monthly journal entries and monthly general ledger close including the investigation verification and reconciliation of all general ledger accounts on assigned property trial balances with subledgers and/or appropriate support schedules (including maintaining the fixed asset database and recording of depreciation and amortization).
• Prepare/Analyze financial statements for an assigned real estate portfolio (including working with property management staff in the preparation of accrual entries at month end) of five to seven assets with limited supervision.
• Review general ledger for unusual variances prepare reclassifications and make necessary journal entries to make sure the financial statements are fairly stated and facilitate the publication
• Analyze mortgage agreements partnership agreements property/asset management agreements and cash management agreements to determine proper accounting requirements and compliance items and prepare compliance submissions as necessary on a timely basis.
• Utilizing closing settlement statements preparing and recording the journal entries for the acquisition financing and disposition of real estate assets and analyzing sale agreements for postclosing transactions.
• Read lease agreements to verify lease abstracts/summaries and implement setup of lease terms in MRI/Yardi and related recoveries for new or amended leases.
• Prepare/review monthly AR Reports and management fee calculations in accordance with property management agreements.
• Participate in the preparation of annual budgets and annual tenant expense reconciliations (CAM & RET.
• Prepare quarterly/annual work paper packages and participate in the annual audit process.
• Communicate with A/P and A/R Clerks to discuss any collections and bank reconciliation issues.
• Prepare escrow draw packages in accordance with loan documents.
• Preparation of Projected Cash Flow Report (with necessary input from Property Management.
• Other related duties and assignments as required.

Interpersonal Contacts:

It is essential that the Senior Property Accountant reflects and adheres to the highest standards of ethical behavior. He or she is expected to express a professional courteous attitude as well as be team oriented. Contacts are normally made with others both inside and outside the organization. External contacts occur with investors regulatory agencies vendors and community partners. Internal contacts occur with all levels and areas of the organization including other department heads asset managers and staff. Contacts are usually made on their own initiative and often concern confidential or sensitive matters requiring the use of discretion negotiation or persuasion.

Specific Job Skills:

• Strong knowledge of generally accepted accounting principles and income tax basis accounting; experience with yearend audits
• Ability to analyze evaluate and act on issues and/or problems reach sound conclusions take appropriate action and communicate results to all relevant parties including financial partners and property team members.
• Good presentation skills verbal written and interpersonal communication skills as well as good computer skills. Proficient in Microsoft Office. Experience with MRI and Yardi preferred
• Excellent organizational and time management skills; strong attention to detail and commitment to meeting deadlines

Education and/or Experience:

• Bachelor’s Degree in accounting or related field
• A minimum of 35 years of property accounting experience with 12 years at the senior level preferred

Job Conditions:

Position experiences interruptions need for frequent shifting priorities and to meet deadlines. The position may occasionally require attendance at evening meetings.