Property Accountant

QuadReal Property Group, LP; Toronto; Hybrid; CAD 75,000 - 85,000; Full time

Job summary

QuadReal Property Group is seeking a Property Accountant to join our team in Canada. The role reports to the Accounting Manager and focuses on full-cycle property accounting, financial statement prep, lease reviews, and timely reporting.

The ideal candidate has CPA designation or active pursuit, 2+ years in commercial property accounting, and familiarity with Yardi. Hybrid work arrangements are available, with a competitive benefits package and salary range.

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.

Responsibilities

• Produce monthly and quarterly financial statements per QuadReal policy.
• Analyze balance sheet accounts and reconcile working papers.
• Set up lease-based revenue and costs, including straight-line rent.
• Prepare budgets and reforecasts within deadlines.
• Support audits and tenant inquiries with documentation.

Skills

Communication

Analytical thinking

Time management

Education

CPA designation or working toward CPA

Tools

Yardi

Excel

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 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

• ability to identify, analyze, and solve problems; ability to take decisive action and seek direction when needed

Computer Skills

• intermediate to advance skills in Excel, Word, and other Microsoft Office programs; knowledge of Yardi an asset

This job posting is for an existing vacancy within our organization. The expected annualized base salary range for this role is $75,000-$85,000. Based on the position, QuadReal offers a competitive total rewards package in addition to the base pay, which may include a performance-based incentive plan, comprehensive health & dental benefits, pension plan, and paid time off. The actual salary offered will take into consideration a wide array of factors including, but not limited to, the individual’s skill, experience, education and training, the market compensation of the role, and the consideration to internal equity.

We value diverse experiences and perspectives. Even if your skills don’t align 100% with the listed qualifications or salary range, we encourage you to apply – you may be a great fit for this role or others in our community. Applicants may also be considered for alternative positions within the organization where their qualifications and experience align more closely with available opportunities.

Candidates must be legally authorized to work in Canada as the company does not provide work permit sponsorship for this role.

QuadReal Property Group will provide reasonable accommodation at any time throughout the hiring process for applicants with disabilities or for those needing job postings in an alternate format. If you require accommodation, please advise the Talent Acquisition team member you are working with and include the following: Job posting #, your name and your preferred method of contact.

#LI-SK1 #LI-Hybrid For 10 years, QuadReal has created spaces that enhance the lives of the people and communities we serve. Headquartered in Vancouver, Canada, we are a leading global real estate partner focused on driving meaningful impact while delivering prudent growth. With a global perspective and local expertise collected from offices across Canada, the US, Asia and the UK, our success stems from our incredible team and from our values— integrity, collaboration, performance, innovation and responsibility. Join our team today to deepen your skillset, grow your career, and make a difference. Together, we’re reimagining an industry and building a culture where ingenuity meets community building.