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Senior Property Accountant
2 weeks ago
Senior Property Accountant
The Senior Property Accountant is responsible for the accurate recording and management of financial transactions related to residential and commercial properties. This includes rent collections, property budgets, financial reporting, and compliance with accounting standards. The Senior Property Accountant will play a critical role in supporting property management teams by ensuring timely and accurate financial reporting.
RESPONSIBILITIES:
Rent and Lease Administration:
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Review lease agreements and ensure accurate recording of lease-related financials, such as rent escalations, tenant reimbursements, and security deposits.
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Track tenant lease terms and ensure timely invoicing and collections.
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Ensure tenant insurance certificates are current and valid in accordance with the terms of the lease.
Accounts Receivable and Accounts Payable:
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Manage the accounts payable and accounts receivable for assigned properties.
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Ensure accurate and timely processing of invoices, payments, and collections.
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Reconcile tenant accounts, including rent collections, deposits, and other charges.
Financial Reporting:
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Prepare monthly, quarterly, and annual financial statements for assigned properties.
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Ensure financial reports are accurate, timely, and in compliance with accounting standards.
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Provide detailed explanations of financial variances, trends, and forecasts to senior management.
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Maintain general ledger accounts for properties, ensuring accuracy and completeness.
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Post journal entries for property-related transactions, including rental income, expenses, and adjustments.
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Ensure proper classification of all property-related financial transactions.
Budgeting and Forecasting:
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Assist in the preparation of annual budgets for properties, including operating expenses, capital improvements, and revenue projections.
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Monitor and analyze actual performance against budgets, providing explanations for variances.
CAM (Common Area Maintenance) Reconciliation:
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Calculate and reconcile CAM charges for tenants, ensuring accuracy and compliance with lease agreements.
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Communicate CAM reconciliations to tenants, addressing any inquiries or disputes in a timely and professional manner.
Financial Systems and Technology:
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Utilize property management software and accounting systems to maintain accurate and up-to-date financial records and reports.
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Provide training and support to property management staff on the use of financial systems and tools, ensuring proper utilization and adherence to best practices.
Property Management Support:
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Work closely with property managers to ensure accurate reporting of property financials.
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Assist in the management of operating statements, capital improvements, and maintenance costs.
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Provide recommendations for cost-saving measures and improvements in financial operations.
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Review property taxes for properties and ensure payments are current.
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Mentorship and coaching of other members of the property management team, as required.