Property Accountant

QuadReal Property Group; Toronto; On-site; CAD 65,000 - 95,000; Full time

Job summary

QuadReal Property Group seeks a Property Accountant to join our team in Toronto. The role reports to the Accounting Manager and focuses on delivering accurate financial statements for property assets, with emphasis on NOI, CAPEX analysis, and lease-driven accounting.

You will manage balance sheet reconciliations, lease reviews, tenant billings and Yardi-based cost recoveries, while maintaining organized files and collaborating across departments to support audits and quarterly reporting.

Qualifications

• CPA designation or equivalent work experience in full cycle property accounting.
• Minimum 2 years commercial property accounting experience.
• Retail property accounting experience would be an asset.
• Strong communication and teamwork; ability to meet deadlines in a dynamic environment.

Responsibilities

• Produce monthly and/or quarterly financial statements as specified.
• Perform NOI and CAPEX analyses with high-level review.
• Reconcile balance sheet accounts and review working papers.
• Review leases, set-ups and related charges; ensure proper rent and recoveries.
• Maintain organized files on shared drives and accounting sites.
• Set up tenant recoveries in Yardi and record cost recoveries.
• Monitor cash flows, distributions and reconciliations for accuracy.
• Compile audit files for annual property audits and inquiries.
• Assist with budgets, reforecasts and post-closing adjustments for acquisitions/dispositions.
• Communicate professionally across departments and with external parties.

Skills

Communication skills

Organizational skills

Time management

Attention to detail

Education

CPA designation or enrolled

Tools

Yardi

Job description

About QuadReal Property Group

QuadReal Property Group is a global real estate investment, development and operating company headquartered in Vancouver, British Columbia. Its assets under management are $98.5 billion. From its foundation in Canada as a full-service real estate operating company, QuadReal has expanded its capabilities globally for investments in equity and debt in both the public and private markets. QuadReal invests directly through operating platforms in which it holds an ownership interest and via programmatic partnerships.

QuadReal seeks to deliver strong investment returns while creating sustainable environments that bring value to the people and communities it serves. Now and for generations to come.

QuadReal: Excellence lives here.
www.quadreal.com

Role Description

Reporting directly to the Accounting Manager, the Property Accountant is responsible for adding value to QuadReal by providing meaningful financial information that is professional, accurate and free of material misstatements, while living and embodying the QuadReal values.

Responsibilities

• Produce monthly and /or quarterly financial statements as specified by QuadReal policy/requirements


• Incorporate high-level thinking and analysis when preparing financial statements and recognize when to adjust for material items and / or explain material variances


• Utilize analytical skills to review work both at high and grass-root level to present meaningful high-level NOI and CAPEX analysis


• Analyze and understand all balance sheet accounts and reconcile working papers in a meaningful way; ensure all processes related to balance sheet items are completed and reviewed


• Understand property expenditures and revenues; hard book expense accruals, adjusting only when necessary


• Communicate and elevate as required on a timely basis any material issues, reporting or collaboration gaps or roadblocks


• Review and approve leases and lease review checklists thoroughly and in a timely manner; ensure set-ups agree with lease language for all items including, but not limited to; rental charges, security deposits, TI and/or LLW amounts and applications thereof and correct interpretation and application of any other relevant clauses; ensure and maintain proper set-up of straight-line rent, recoveries, and any other accounting -related processes that are lease driven


• Ensure files are saved according to QuadReal standard set up on shared drive and/or Commercial Property Accounting Info Site and that they are professional and transparent


• Set up and maintain tenant's recovery in Yardi recovery model in accordance with lease language; use Yardi recovery model to calculate and record monthly and annual operating costs and realty tax recovery adjustments, billings, and estimates


• Monitor and be aware of large cash flows items; ensure cash distributions/cash calls and HST reconciliations are completed in a timely manner and are free of material errors


• Compile audit files and supporting documentation as required for annual property audits or tenant inquiries / disputes


• Complete year end operating cost adjustments and tenant billings for assigned properties within allotted period according to requirements for asset


• Review capital and leasing job costs monthly; ensure jobs are set up correctly with proper status and current forecast information


• Prepare intelligent property budgets and reforecasts within assigned deadlines adhering to QuadReal process


• Support acquisition and disposition activity as required including post-closing adjustments; ensure trial balances or outstanding items are cleaned up in a timely manner after disposition


• Communicate efficiently and effectively, in a professional manner, with all QuadReal employees and others outside the organization


• Support other departments as needed with reconciliations, tenant inquiries, financial analysis, etc.


• Provide supplementary reporting or details as required by the client


• Provide input/feedback for improving procedures and initiating quality and efficiency enhancements


• Other duties as assigned from time to time

Experience and Qualifications

• Qualified or enrolled CPA designation or relevant work experience in full cycle property accounting


• Minimum 2 years commercial property accounting experience


• Previous retail property accounting experience would be an asset


• Relationship Skills: ability to communicate effectively, both oral and written; ability to develop and sustain cooperative working relationships and contribute to a positive work environment; willingness to learn and and contribute to a dynamic environment that includes new ideas and change


• Organizational/Multi-Tasking: ability to allocate one's time effectively, work under pressure, and meet tight deadlines; ability to handle multiple demands and competing priorities; ability to prioritize workload; ability to work and analyze at a high level; willingness to learn in a dynamic environment that includes new ideas and change

Decision Making Skills -