Senior Property Accountant

3 days ago

Chicago, Illinois, United States Jobot Full time
Senior Property Accountant Job Description

Our client, a leading commercial property management company based in Chicago, is seeking a Senior Property Accountant to join their dynamic team. As a key member of the accounting team, you will be responsible for preparing accurate and timely financial reports, managing property-specific general ledgers, and overseeing tenant billing processes.

Key Responsibilities:
  • Financial Reporting: Prepare monthly, quarterly, and annual financial reports for multiple commercial properties, including income statements, balance sheets, and cash flow statements.
  • Budgeting and Forecasting: Collaborate with property managers and asset managers to develop annual property budgets and financial forecasts, monitoring and reporting on budget variances.
  • General Ledger Management: Maintain property-specific general ledgers, ensuring accurate recording of all financial transactions, including rent collection, operating expenses, and capital expenditures.
  • Tenant Billing: Oversee tenant billing processes, including rent escalations, CAM reconciliations, and tax pass-throughs, addressing tenant inquiries related to billing and financial matters.
  • Accounts Payable and Receivable: Manage accounts payable functions, including invoice processing and vendor payments, handling accounts receivable, ensuring timely rent collections, and addressing tenant concerns.
  • Tax Compliance: Coordinate property tax assessments and payments, working with external tax consultants to ensure compliance and minimize tax liabilities.
  • Financial Analysis: Conduct financial analysis and variance analysis to identify trends, opportunities, and areas for improvement in property financial performance.
  • Audit Support: Assist in the preparation of financial information for annual audits, liaising with auditors as necessary to ensure a smooth audit process.
  • Compliance: Stay current with accounting standards, regulations, and industry best practices related to commercial property accounting, ensuring compliance with lease terms and industry standards.
Requirements:
  • Bachelor's degree in Accounting, Finance, or related field. CPA or relevant certification preferred.
  • Minimum of 5 years of property accounting experience in commercial real estate.
  • Proficiency in property management accounting software (Yardi, MRI, etc.) and Microsoft Excel.
  • Strong understanding of lease terms, CAM reconciliations, and property tax calculations.
  • Excellent analytical and problem-solving skills.
  • Effective communication and interpersonal skills.
  • Detail-oriented with a high degree of accuracy.
  • Ability to work independently and meet deadlines.

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