Commercial Lease Accountant

PRC Management Co., Inc.; Red Bank (NJ); On-site; USD 80,000 - 85,000; Full time

Benefits offered by this job

Medical, Dental, Vision, PTO, 401k

Job summary

PRC Management Co., Inc. is seeking a Commercial Lease Accountant to oversee lease accounting, tenant billing, CAM reconciliations, and property-level financial reporting for its commercial portfolio in New Jersey.

You will manage lease setup, rent billing, CAM and tax reconciliations, and month-end close, ensuring accuracy and timely reporting for management and the CFO.

Qualifications

• Bachelor’s degree in Accounting, Finance, or related field.
• Minimum 5 years in progressive accounting, preferably in property management or lease accounting.
• Experience with lease accounting, tenant billing, CAM reconciliations, cash receipts.

Responsibilities

• Oversee lease administration, tenant billing, and reporting.
• Process monthly rent charges, escalations, and utility billings.
• Coordinate CAM, tax reconciliations, and reconcilations with outsourced providers.
• Post journal entries for straight-line rent per ASC 842 and close processes.
• Monitor tenant accounts receivable aging and coordinate collections.

Skills

Lease accounting

Tenant billing

CAM reconciliations

Yardi

ASC 842

Property accounting

Education

Bachelor’s degree in Accounting

Tools

Yardi Voyager

Job description

Description

The Commercial Lease Accountant is responsible for overseeing lease accounting, tenant billing, commercial lease collections, and property-level financial reporting for the commercial property portfolio. This role manages tenant lease setup, rent and recurring charge billing, utility billbacks, CAM and operating expense reconciliations, daily cash receipts, security deposit reconciliations, tenant account follow-up, and lease-related reporting. The position ensures that lease activity, tenant receivables, and related financial records are accurate, timely, consistently maintained, and prepared in accordance with lease terms, company procedures, and management reporting requirements.

Key Responsibilities

Lease Administration & Compliance

• Review commercial lease agreements and lease abstracts created by the legal team. Set up and maintain tenant leases for all assigned commercial properties in the accounting system with accurate rent schedules, escalations, CAM charges, concessions, and related billing details.
• Monitor the rent roll for lease renewals, expirations, and rent escalations, and update accounting records when tenants renew, expand, downsize, or terminate early.

Tenant Billing

• Process monthly rent charges, escalation clauses, utility billings, and monthly tenant invoices.
• Email monthly tenant statements and work with tenants to resolve any follow-up questions.

Utility Billback with Outsourced Service Provider

• Coordinate utility billback activity with outsourced billing agents to ensure timely submission of utility bills, review tenant bills before posting, and maintain accurate tenant ledger activity.

CAM & Tax Reconciliations

• Calculate and reconcile annual Common Area Maintenance (CAM), insurance, and property tax recoveries for commercial tenants. Automate CAM reconciliation calculation and billing in Yardi Voyager.

Tenant Improvement Allowances and Lease Incentives

• Account for lease incentives and improvements, including tenant improvement allowances, free rent periods, and landlord-funded buildouts.

General Ledger & Month-End Close

• Post journal entries for straight-line rent in accordance with ASC 842, expense accruals, and amortization schedules to ensure general ledger accuracy.
• Prepare and review property-level financial reporting schedules, tenant receivable analyses, rent roll support, deferred rent and incentive schedules, security deposit reconciliations, and month-end close support.
• Research variances, ensure lease accounting activity is accurately reflected in the general ledger, and provide reporting support to the Chief Financial Officer and management team.

Commercial Lease Collections

• Monitor tenant accounts receivable aging, follow up on past-due balances, work with legal to prepare collection notices in accordance with lease terms and company policy, document collection activity, and coordinate with property management, legal counsel, and leadership on escalated delinquency matters.

Requirements

• Bachelor’s degree in Accounting, Finance, Business Administration, or a related field.
• Minimum of 5 years of progressive accounting experience, preferably in property management, commercial real estate, or lease accounting, with demonstrated experience managing tenant billing, reconciliations, cash receipts, and property-level accounting processes.
• Experience with lease accounting, tenant billing, CAM reconciliations, cash receipts, and property-level accounting processes preferred.
• Strong analytical skills, accuracy, and attention to detail.
• Proficiency in financial analysis, reporting, reconciliations, and accounting documentation.
• Experience with property management or accounting software, preferably Yardi.
• Excellent communication and interpersonal skills, with the ability to work effectively with internal teams, tenants, vendors, and outsourced billing partners.
• Ability to prioritize, manage multiple deadlines, and maintain organized records across multiple properties.

Benefits

• Medical, Dental, Vision, PTO, Paid Holidays, 401k

Salary

• $80,000 - $85,000 annually