Property Accountant

5 days ago

Farmington Hills, Michigan, United States Vaco Full time
Job Title: Property Accountant

We are seeking a detail-oriented and experienced Property Accountant to join our accounting team at Vaco.

Responsibilities:
  • Record and reconcile property transactions, including acquisitions, dispositions, leases, and capital expenditures.
  • Maintain accurate and up-to-date property accounting records in accordance with GAAP and industry standards.
  • Perform month-end and year-end close procedures for property-related accounts.
  • Prepare monthly, quarterly, and annual financial statements for properties, including income statements, balance sheets, and cash flow statements.
  • Analyze property performance, variances, and trends to provide insights and recommendations to management.
  • Assist in the preparation of financial reports for lenders, investors, and stakeholders.
  • Collaborate with property managers and asset management teams to develop property budgets and forecasts.
  • Monitor actual performance against budgets and forecasts, investigating and explaining variances.
  • Identify opportunities for cost savings, revenue enhancement, and operational efficiencies.
  • Review and analyze lease agreements to ensure accurate accounting treatment for rent, CAM (Common Area Maintenance), and other lease-related charges.
  • Maintain lease databases, track lease terms, and reconcile tenant accounts receivable.
  • Ensure compliance with lease agreements, regulatory requirements, and internal controls related to property accounting.
  • Assist in property audits, tax filings, and coordination with external auditors and tax advisors.
  • Utilize property management and accounting software systems to streamline processes and improve efficiency.
  • Identify opportunities for process improvements, automation, and implementation of best practices in property accounting.
Qualifications:
  • Bachelor's degree in Accounting, Finance, or related field.
  • 3+ years of experience in property accounting, real estate accounting, or related roles.
  • Knowledge of real estate accounting principles, lease accounting, and property management software (e.g., Yardi, MRI).
  • Proficiency in Microsoft Excel and financial analysis.
  • Strong understanding of GAAP and financial reporting requirements.
  • Excellent attention to detail, analytical skills, and problem-solving abilities.
  • Effective communication and collaboration skills with cross-functional teams and stakeholders.
  • CPA or relevant professional certification is a plus.
Benefits:
  • Competitive salary and benefits package.
  • Opportunities for professional development and career growth in the real estate industry.
  • Positive and collaborative work environment.
  • Health insurance, retirement plans, and other benefits.

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