Property Accountant Lead

Forum Properties; Edmonton; On-site; CAD 70,000 - 90,000; Full time

Job summary

A leading company in the real estate sector is seeking a detail-oriented Property Accounting Lead in Edmonton. This role involves managing lease accounting records, ensuring compliance with tenant agreements, and supporting financial reporting. The ideal candidate will have strong accounting skills and a deep understanding of real estate accounting principles.

Qualifications

• 5+ years of progressive experience in the real estate industry.
• Proficiency in utilizing property management software and financial management tools.
• Ability to work independently and manage deadlines.

Responsibilities

• Manage and maintain accurate lease accounting records.
• Collaborate with Property Management to prepare annual property budgets.
• Assist in the oversight and preparation of financial statements and reports.

Skills

Analytical skills

Communication skills

Attention to detail

Education

Bachelor’s degree in accounting, finance, or a related field

Tools

Property management software

Financial management tools

Job description

We are currently seeking a detail-oriented and analytical Property Accounting Lead to join our team located in Edmonton. This individual will be responsible for managing and maintaining accurate lease accounting records, ensuring compliance with tenant agreements, and supporting the overall financial reporting process. This pivotal role is integral to our current operations and critical for facilitating anticipated future growth. The ideal candidate possesses strong accounting skills, a deep understanding of real estate accounting principles, and exceptional organizational abilities.

Our Western office is located in Edmonton and holds a portfolio of properties in Alberta, British Columbia and Saskatchewan, and we continue to explore new opportunities.

TASKS

Lease Accounting
• Review lease documents, enter and maintain lease information in Spectra.
• Monitor lease activity and critical dates and update related schedules.
• Ensure accurate and timely recording of tenant lease transactions.
• Collaborate with Leasing and Property Management to obtain necessary lease information, resolve discrepancies, and validate data accuracy.
• Perform review and reconciliation of tenant ledgers as needed; prepare required documentation to support requested adjustments.
• Collaborate with Property Management to prepare year end CAM reconciliations.
• Communicate with tenants to resolve queries related to charges and year end CAM reconciliations.

Budget Management
• Collaborate with Property Management to prepare annual property budgets.
• Monitor budget performance, including interim review of estimated CAM reconciliations, and provide variance analysis for revenue accounts.
• Prepare regular and ad-hoc financial reports for management, highlighting key budget insights.
• Assist in the preparation of financial forecasts and projections to support decision-making.
• Participate in budget reviews and meetings, providing financial insights and recommendations.
• Identify opportunities for cost recovery optimization within the parameters of tenant leases.
• Ensure compliance with budgetary policies and procedures, making necessary adjustments as required.

Financial Management
• Post all rent receipts and ensure all tenant ledgers are up to date
• Assist in the oversight and preparation of financial statements and reports.
• Monitor critical lease events such as renewals, terminations, and modifications, and adjust tenant records in Spectra accordingly.
• Generate financial analyses and insights related to lease activity, cash flows, and variances to forecast.
• Create and maintain amortization schedules for recoverable capital expenditures.
• Assist with audits and provide necessary documentation and explanations related to lease accounting.

SKILLS

• Bachelor’s degree in accounting, finance, or a related field.
• 5+ years of progressive experience in the real estate industry.
• Proficiency in utilizing property management software and financial management tools.
• Excellent analytical skills with a keen attention to detail.
• Strong communication skills to collaborate effectively with cross-functional teams.
• Ability to work independently, manage deadlines, and prioritize tasks in a fast-paced environment.

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About Us

Forum is a key player in Canada, serving as a major owner, developer, and promoter of commercial, residential, and mixed-use real estate.