Senior Property Accountant

Principal Objective of Position:                                                                                                     

The Senior Property Accountant will manage the accounting for a portfolio of properties, performing both cash and accrual-based processes depending on the property. This position involves handling the full cycle of accounting for commercial real estate/medical office buildings which includes: cash disbursements, cash receipts, journal entries, bank reconciliations, cash management, and the preparation of customized financial statements and supporting schedules. The Senior Property Accountant will work closely with Property Managers to track and pay real estate taxes, assist with rent collections, and provide financial information as needed.

Essential Functions:                                                                                                                       

The following reflects management’s definition of essential functions for this job but does not restrict the tasks that may be assigned.  Management may assign or reassign duties and responsibilities to this job at any time due to reasonable accommodation or other reasons.

Accounting Management:

• Manage accounting for a portfolio of medical office buildings, ensuring the accuracy and timeliness of financial transactions.
  • Post tenant cash receipts
  • Process vendor payments
  • Complete monthly bank reconciliations
  • Complete monthly journal entries and accruals
  • Cash management
  • Prepare customized financial statements and supporting schedules.

Financial Reporting:

• Prepare timely and accurate financial statements for a portfolio of properties, including actual-to-budget variance reviews.
• Assist in the preparation of budgets and cash forecasts for properties in the portfolio.

Tenant and Owner Relations:

• Maintain knowledge of loan agreements and management agreements for assigned properties.
• Ensure real estate taxes are tracked and paid on time.
• Assist the Property Manager with rent collections by preparing Aging reports.
• Respond to tenant and owner requests for financial information.

Year-End and Compliance Support:

• Assist in preparing year-end reports for tax professionals.
• Produce and report 1099 and 1096 activity annually.

Other Responsibilities:                                                                                                                   

• Review financials for accuracy and completeness.
• Analyze financial data to provide insights into property performance and recommend improvements.
• Provide financial support and assistance to other departments as needed.
• Maintain property accounting files and records in compliance with company policy and industry regulations.
• Perform other duties and special projects as assigned by management.
• Other duties as assigned.

Education and Experience Required:                                                                                           

• Bachelor’s degree in Accounting, Finance, or a related field.
• Minimum of 5 years of accounting experience, preferably within real estate or property management.
• Proven experience working with general ledgers, creating journal entries, preparing financial statements, and establishing accruals.
• Strong understanding of real estate accounting principles and practices.

Knowledge, Skills, and Abilities Required:                                                                                  

• In-depth understanding of full-cycle accounting.
• Knowledge of real estate tax regulations, loan agreements, and property management agreements.
• Familiarity with preparing budgets and forecasts for real estate properties.
• Strong analytical and problem-solving skills with the ability to review financial reports and detect discrepancies.
• Excellent communication skills, both verbal and written, with a customer-service orientation.
• High attention to detail and ability to maintain accuracy in all financial processes.
• Ability to manage multiple projects simultaneously, prioritizing tasks effectively and meeting deadlines.
• Strong organizational and time management skills.
• Ability to work independently and as part of a team, demonstrating initiative and professionalism.

Preferred Qualifications:                                                                                                                

• Previous experience in real estate accounting or property management accounting.
• Familiarity with cash management systems and financial software used in real estate management.  Experience with Yardi Systems is a plus.
• CPA or other accounting certifications are a plus.
• Knowledge of industry-specific reporting standards, such as GAAP (Generally Accepted Accounting Principles).

Work Environment:                                                                                                                         

This position will primarily work in an office environment that is clean, well-lit, and temperature-controlled. The role requires frequent use of computer and office equipment, with extended periods of sitting and desk work. The office is typically quiet, with the occasional background noise from coworkers or phone calls.