Position: Property Accountant
Reports to: Controller
Location: Northeast Washington, DC; in office 5 days a week
Salary: $80K-$110K based on experience
Benefits: Performance-based bonuses; comprehensive health, dental, and vision insurance; 401k with company matching; paid time off and 12 company paid holidays; professional development and career growth opportunities.
The Property Accountant is responsible for all financial and analytical procedures for a group of assigned multi-family properties, working closely with the Community Managers on performance, variances, and reconciliations. This is a great opportunity for someone who thrives in a fast-paced, entrepreneurial environment with prior property accounting experience.
ResponsibilitiesFinancial Accounting and Reporting:- Prepare and maintain accurate financial statements, including income statements, balance sheets, and cash flow statements in an audit ready format.
- Preparation of timely and accurate monthly, quarterly, and annual financial reporting.
- Review Bank Reconciliations and Intercompany tie outs.
- Prepare General Ledger Posting, Recurring, and Reclass Entries
- Prepare appropriate Workpapers and Roll forwards for All Balance Sheet Accounts.
- Track closing calendar and checklist on a monthly schedule.
- Variance reporting current vs prior and actual vs budget review.
Rent Collection and Accounts Payable:- Oversee rent collection processes and ensure timely collection of rent and other property-related income.
- Maintain accurate tenant ledgers, including rent payments, security deposits, and other charges.
- Work with Community Managers to follow-up on tenant inquiries and disputes related to financial matters.
- Review balance sheet related Accounts Payable ensuring timely payment of bills and expenses.
- Follow Up with Community Managers on Outstanding AP and AR balances.
Treasury Management:- Monitor and report daily cash balances.
- Ensure priority expenditures are processed i.e., mortgage, tax, utilities.
Lease & Loan Administration:- Review and analyze lease and loan agreements for financial implications.
- Ensure accurate lease accounting and revenue recognition.
Communication and Coordination:- Collaborate with Community Managers to provide financial insights and decision-making support.
- Prepare annual audit packages for all assigned properties to assist with audits, reviews, compilations, and tax return preparation.
- Liaise with external CPA firm on matters related to the annual audits and tax returns.
- Lead acquisition and disposition accounting activities.
Development and Construction:- Review job cost tracking, analysis, and financial reporting.
- Perform draw to GL reconciliation and financial reporting.
Qualifications- BA/BS in Accounting or Finance with 5+ years of real estate accounting experience with preference in property accounting role.
- Previous experience in a development and construction environment is highly desired.
- A thorough knowledge of GAAP is required.
- Strong communication and interpersonal skills, both verbal and written.
- Exemplary problem-solving and analytic skills.
- A strong sense of accountability and thrives in a collaborative environment.
- Excellent organizational and prioritization skills with a keen sense of urgency, works well under pressure, and consistently meets deadlines.
- Advanced Microsoft Office skills, particularly Word and Excel.
- Knowledge of Yardi software is highly desirable.
- CPA or CMA certification is preferred but not required.
