Senior Property Accountant

Chicago, Illinois
May 19, 2024
May 24, 2024
Staff, Senior
Full Time
Employment Type
Organization Type
HYBRID - 3 days in office, 2 days remote

This Jobot Job is hosted by: Jim Forman
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Salary: $90,000 - $110,000 per year

A bit about us:

Our client is a leading commercial property management company based in Chicago, dedicated to providing exceptional property management services to our clients. They manage a diverse portfolio of Residential and Commercial properties, including office buildings, retail centers, and apartment complexes. As they continue to grow, they are seeking a Senior Property Accountant to join their dynamic team and contribute to their mission of excellence in property management.

Why join us?

Defined succession plan to Controller position
Flexible environment
Hybrid schedule

Job Details

Key Responsibilities:
1. Financial Reporting: Prepare accurate and timely monthly, quarterly, and annual financial reports for multiple commercial properties, including income statements, balance sheets, and cash flow statements.
2. Budgeting and Forecasting: Collaborate with property managers and asset managers to develop annual property budgets and financial forecasts. Monitor and report on budget variances.
3. General Ledger Management: Maintain property-specific general ledgers, ensuring accurate recording of all financial transactions, including rent collection, operating expenses, and capital expenditures.
4. Tenant Billing: Oversee tenant billing processes, including rent escalations, CAM reconciliations, and tax pass-throughs. Address tenant inquiries related to billing and financial matters.
5. Accounts Payable and Receivable: Manage accounts payable functions, including invoice processing and vendor payments. Handle accounts receivable, ensuring timely rent collections and addressing tenant concerns.
6. Tax Compliance: Coordinate property tax assessments and payments, working with external tax consultants to ensure compliance and minimize tax liabilities.
7. Financial Analysis: Conduct financial analysis and variance analysis to identify trends, opportunities, and areas for improvement in property financial performance.
8. Audit Support: Assist in the preparation of financial information for annual audits, liaising with auditors as necessary to ensure a smooth audit process.
9. Compliance: Stay current with accounting standards, regulations, and industry best practices related to commercial property accounting. Ensure compliance with lease terms and industry standards.

  • 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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