What are the responsibilities and job description for the Property Accountant position at Cobalt Recruitment?
A leading real estate firm, is seeking a detail-oriented and experienced Property Accountant to join their growing team. The ideal candidate will be responsible for managing the financial operations for a portfolio of properties. This role requires a strong understanding of real estate accounting, property management, and the ability to collaborate with various departments to support the firm’s real estate assets.
Key Responsibilities:
- Manage the full-cycle accounting for assigned real estate properties, including accounts payable, accounts receivable, general ledger entries, and financial reporting.
- Prepare and review monthly financial statements for each property, including balance sheets, income statements, and cash flow reports, ensuring accuracy and compliance with GAAP.
- Reconcile bank accounts, tenant receivables, and security deposits on a monthly basis.
- Assist in the preparation of annual operating budgets for properties.
- Track and allocate property-related expenses such as insurance, taxes, and management fees in compliance with budget guidelines.
- Process and review tenant rent roll and ensure accurate recording of rental income and adjustments (e.g., rent abatements, lease amendments, etc.).
- Prepare and submit property tax filings, ensuring timely payments and tax compliance.
- Support month-end and year-end closing processes, including journal entries, reconciliations, and financial analysis.
- Coordinate with property management and leasing teams to ensure accurate recording of leasing activity, security deposits, and tenant billing.
- Assist with audits by providing required financial documentation and clarifying accounting inquiries.
- Analyze property performance and provide financial insights to management teams for decision-making.
- Assist in preparing and filing sales tax returns and other regulatory filings for properties.
Qualifications:
- Bachelor’s degree in Accounting, Finance, or a related field.
- Minimum of 2-3 years of property accounting experience, preferably within the real estate industry.
- Strong knowledge of property management accounting practices and lease agreements.
- Proficiency in accounting software (e.g., Yardi, MRI, QuickBooks, or similar), as well as Microsoft Excel and other Microsoft Office tools.
- Solid understanding of GAAP, tax regulations, and financial reporting standards for real estate.
- Strong attention to detail, with the ability to produce accurate financial statements and reports.
- Strong organizational skills, with the ability to handle multiple properties and meet deadlines.
- Excellent communication and interpersonal skills, with the ability to work effectively across various external stakeholders and departments.
Salary : $100,000 - $120,000
