Property Management Accountant

Property Management Accountant

Job description 

The Property Management Accountant is responsible for the day in and day out accounting on a portfolio of properties, providing thorough financial oversight and compliance.  He/she is also responsible for maintaining accurate accounting books for individual properties in order to produce monthly financial reports to be used by management to assess the profitability of the business.  The Property Management Accountant will have the fiduciary responsibility to follow acceptable levels of internal controls, ensuring compliance with all federal, state, and local regulations, and safeguarding owners/investors assets.

Responsibilities 

• Assist Operations Management with accounting functions to facilitate proper bookkeeping for tenant ledgers and accounts.
• Timely and accurately prepare monthly financial statements for the Property Management portfolio: bank statements, management of receivables, payables, control mechanisms and timely deposits of all funds.
• Monitor property revenues and expenses and ensure the accurate recording in accordance with management agreement guidelines. 
• Oversee the individual debt obligations for properties within the portfolio, ensuring that payments are made on time, principal and interest are accurately recorded, and all debt covenants are maintained.
• Provide financial analysis of financial data and operations in order to assist and advise management in maintaining the properties financial objectives.  Alerts supervisor and/or management of financial concerns within the portfolio, being able to provide articulation about the current financial state.
• Complies with standard accounting policies and procedures and internal controls for finance and accounting operations.
• Timely production and review of financial packets, including all balance sheet accounts, including monthly bank reconciliation and general ledger account reconciliations. 
• Work with the Property Management Controller and Assistant Controller on the successful completion of all internal and external financial audits, including coordination of work with CPA firms and delivering information requested by auditors on a timely basis.
• Work with Operations Management to produce budgets for the properties.
• Prepares all financial reports in accordance with all management agreement requirements, meeting various due dates and deadlines.
• Executes other special projects and responsibilities as assigned.
• Update property management systems or software to reflect the new month's timeline accurately. Review Month end reports to assess the financial performance of managed properties.
• Verify tenant payments, charges, and security deposit balances to maintain transparency and accountability. Correct any inaccuracies or discrepancies in tenant ledgers promptly. 
• Communicate with property owners and tenants to address any concerns related to financial records and charges.

Competencies and Abilities

• Proven Accounting skills and ability in a small/mid-size business environment
• Ability to work in a team environment and assist other team members to reach individual and team deadlines
• Ability to multi-task amongst multiple properties
• Financial Management and analytical skills
• Efficient and effective project organization and time management skills
• Computer Skills:  RealPage/Onesite Leasing & Rents and Accounting software, Excel and Microsoft products
• Personal effectiveness/credibility
• Ethical Conduct

Supervisory Responsibility

This position does not have supervisory responsibility and reports to the Accounting Manager, Controller, or Assistant Controller.

Work Environment

This job operates in a professional open office environment. This role routinely uses standard office equipment such as computers, phones, photocopiers, filing cabinets and fax machines.

Physical Demands 

The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. 

While performing the duties of this job, the employee is regularly required to talk, hear and comprehend. The employee frequently is required to sit for lengths of time, stand; walk; use hands to finger, handle or feel; and reach with hands and arms. 

Position Type/Expected Hours of Work 

This is a full-time position. Standard office hours are Monday through Friday, 8:00 a.m. to 5 p.m., however, a flexible work schedule may be approved after a probationary or training period. Additional hours are expected during busier periods (i.e. month-end, audit, budget).

Preferred Education and Experience

1.         Associate Degree (or higher) in Accounting 

2.         One to three years of accounting experience preferred

3.         Experience in property management accounting preferred

4.         Knowledge of Low Income and Affordable Housing Programs (e.g., HUD section 8 subsidized housing, IRS section 42 (LIHTC Program), HOME funds, Rural Development). 

5.         Knowledge and experience with property management software, which includes tenant ledgers and accounting ledgers. 

Other Duties

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.

EEO