Property Accountant
Vaco
- Farmington Hills, MI
- $70,000-90,000 per year
- Permanent
- Full-time
Job Summary: We are seeking a detail-oriented and experienced Property Accountant to join our accounting team. The Property Accountant will be responsible for managing the financial aspects of our property portfolio, including accounting for property transactions, financial reporting, budgeting, and variance analysis. This role offers an excellent opportunity for a skilled accountant with real estate industry experience to contribute to our organization's financial success.
Responsibilities: * Property Accounting:
- Record and reconcile property transactions, including acquisitions, dispositions, leases, and capital expenditures.
- Maintain accurate and up-to-date property accounting records in accordance with GAAP and industry standards.
- Perform month-end and year-end close procedures for property-related accounts.
- Financial Reporting:
- Prepare monthly, quarterly, and annual financial statements for properties, including income statements, balance sheets, and cash flow statements.
- Analyze property performance, variances, and trends to provide insights and recommendations to management.
- Assist in the preparation of financial reports for lenders, investors, and stakeholders.
- Budgeting and Forecasting:
- Collaborate with property managers and asset management teams to develop property budgets and forecasts.
- Monitor actual performance against budgets and forecasts, investigating and explaining variances.
- Identify opportunities for cost savings, revenue enhancement, and operational efficiencies.
- Lease Administration:
- Review and analyze lease agreements to ensure accurate accounting treatment for rent, CAM (Common Area Maintenance), and other lease-related charges.
- Maintain lease databases, track lease terms, and reconcile tenant accounts receivable.
- Compliance and Audits:
- Ensure compliance with lease agreements, regulatory requirements, and internal controls related to property accounting.
- Assist in property audits, tax filings, and coordination with external auditors and tax advisors.
- Financial Systems and Process Improvement:
- Utilize property management and accounting software systems to streamline processes and improve efficiency.
- Identify opportunities for process improvements, automation, and implementation of best practices in property accounting.
- Bachelor's degree in Accounting, Finance, or related field.
- 3+ years of experience in property accounting, real estate accounting, or related roles.
- Knowledge of real estate accounting principles, lease accounting, and property management software (e.g., Yardi, MRI).
- Proficiency in Microsoft Excel and financial analysis.
- Strong understanding of GAAP and financial reporting requirements.
- Excellent attention to detail, analytical skills, and problem-solving abilities.
- Effective communication and collaboration skills with cross-functional teams and stakeholders.
- CPA or relevant professional certification is a plus.
- Competitive salary and benefits package.
- Opportunities for professional development and career growth in the real estate industry.
- Positive and collaborative work environment.
- Health insurance, retirement plans, and other benefits.