Property Accountant

20/20 Foresight Executive Talent Solutions; Los Angeles (CA); On-site; USD 70,000 - 90,000; Full time

Job summary

A real estate management firm in Los Angeles is seeking a Property Accountant to oversee lease administration and accounting functions for assigned properties. Responsibilities include supervising fee managers, processing financial transactions, and ensuring compliance with company policies. Candidates should have 5 years of experience in accounting, with a preference for candidates with real estate exposure and CPA certification. Proficiency in Yardi and strong analytical skills are essential for this position.

Qualifications

• 5 years of progressive experience in the accounting field.
• 3 to 5 years of accounting experience in real estate is preferred.
• Proficiency in property management systems and CPA certification.

Responsibilities

• Support assigned properties/asset managers in lease administration and accounting.
• Supervise fee manager's personnel and ensure compliance.
• Prepare and enter lease agreements in Yardi.

Skills

Accounting principles

Real estate accounting

Analytical skills

MS Office

Education

5 years progressive experience in accounting

CPA certification (preferred)

Tools

Yardi

Job description

Our Client is a developer, owner, and operator of commercial real estate assets throughout Hawaii and the mainland United States. The firm has owned and operated institutional quality real estate assets throughout the United States for over seventy-five (75) years and has built a national reputation as a passionate, hardworking owner and manager dedicated to improving efficiency and maximizing profitability for investors. The firm focuses its efforts on acquiring developable and leasable properties that provide economic development in the region and job creation for the community.

Position

The Property Accountant is responsible for the support of assigned properties/asset managers in all lease administration, accounting, budgeting, and reporting functions for the Asset Management division. Responsible for the training of the fee managers on all systems, including Yardi, Payscan, AssetEye, and the Company's policies, procedures, and standards.

Responsibilities

• Process and review (edit and post) the fee manager's work to ensure compliance with the Company's policies, procedures and standards for lease administration, monthly and periodic billings, collection and application of funds, and payment of vendor invoices (including Payscan) and insurance certificate tracking.
• Supervise, coordinate, and audit the fee manager's personnel in the day‑to‑day lease administration and property accounting of their assigned portfolio to ensure compliance.
• Train the outside fee manager's staff in the policies, procedures, and standards in the administrative, systems (Yardi, AssetEye, Payscan), accounting, budgeting (Annual, Five‑Year and Quarterly Reviews), and reporting requirements of the Company.
• Review and analyze fee manager reports, accounts and variance analyses for accuracy and timeliness.
• Perform all lease administration, accounting, finance, and budgeting functions for all non‑fee managed properties.
• Act as liaison and contact person for fee managers and the Los Angeles office with Corporate Accounting, Finance, and Information Technology departments.
• Review, analyze, and process leases, amendments, and other written agreements entered by the fee managers into the Yardi system to ensure accurate and timely data.
• Prepare and enter leases for non‑fee managed properties into the Yardi system.
• Acts as Asset Management departmental administrator for Payscan duties which include but are not limited to providing training for internal and external Asset Management users, maintaining workflows, creating and maintaining training documentation and user guides, reviewing and resolving issues with the daily invoice uploads, liaising with the fee managers, Corporate Accounting and Information Technology departments to research, assign and guide users to resolve exceptions.
• Acts as Asset Management departmental administrator for AssetEye duties which include, but are not limited to, providing training for internal and external Asset Management users, creating and maintaining training documentation and user guides, generating, reviewing and analyzing inputs by fee managers and liaising with the fee managers, Information Technology, Corporate Accounting and Financial Services departments to ensure compliance with departmental and corporate policies and the further development of the use of the system.
• Participates in and travel to conferences, trainings and meetings, as required.
• Assists the Vice President, Finance & Accounting, Asset Management, in reviewing, analyzing, documenting and implementing and training new accounting processes, controls, policies and procedures.
• Assists the Vice President, Finance & Accounting, Asset Management, in review and testing of updated or new software, and the creation and revision of training documentation and user guides for new/updated systems.
• Assists the Vice President, Finance & Accounting, Asset Management, in reviewing, testing, analyzing, amending and creating the Asset Management Accounting, Reporting and Lease Administration Policies and Procedures Manual.
• Processes, reviews, coordinates and controls the real property tax payments for the Asset Management division.
• Prepares and enters journal entries for correcting, adjusting, accruing and reclassifying the accounts of their assigned properties as necessary.
• Reviews, analyzes and processes accounts receivable write‑offs in coordination with Corporate Accounting.
• Reviews, analyzes, processes and posts accounts payable invoices/batches.
• Reviews and processes the establishment of new accounts payable vendors.
• Tracks capital expenditure, tenant improvement and lease cost payments.
• Reviews, analyzes and processes the annual expense (CAM) reconciliation for their assigned properties.
• Performs lease administration and accounting functions for property‑related and administrative projects assigned to the Asset Management division. Analyzes administrative expenses and prepares journal entries to allocate these expenses to the properties.
• Prepares annual, quarterly and monthly reports to management, as assigned.
• Reviews, audits and analyzes the accounting transactions of the fee managers. Performs account and expense variance analyses.
• Reviews the monthly financial reports of the fee managers for compliance with policies and procedures.
• Trains the outside fee managers in the proper use of the budgeting system (Annual, Five‑year and Quarterly Reviews).
• Maintains data files and the generation of reports for the budgeting system (Annual, Five‑year and Quarterly Reviews).
• Assists and supports the VP Regional Managers (Asset Managers) in reviewing and ensuring the accurate completion and submission of the fee managers' annual, five‑year, and quarterly reviews.
• Prepares expense projections for administrative projects for the Company's budgeting system (Annual, Five‑year and Quarterly Reviews).
• Create and post Late Fee Batch on a Monthly basis.
• Performs other duties as assigned.
• Complies with all company policies and procedures.

Qualifications

• 5 years progressive experience in the accounting field

Preferred

• 3 to 5 years progressive accounting experience in the real estate industry.
• Proficiency in property management systems (i.e Yardi)
• CPA certification.

Skills / Knowledge

Thorough knowledge of accounting principles, financial management and real estate accounting.

• Technical research skills.
• Strong analytical and critical thinking skills.
• Intermediate to advanced experience with MS Office products such as Word, Excel, and Outlook.
• Intermediate to advanced knowledge of major general ledger accounting software packages.
• Excellent written, verbal, and interpersonal skills.

Personal Skills & Attributes

• Must be able to prioritize tasks and effectively manage multiple projects simultaneously.
• Ability to work independently and as part of a team and take on new tasks/projects with a high level of difficulty.
• This position occasionally requires lifting items up to 20 pounds, frequent sitting, standing, walking and bending.
• Some driving between meeting sites may be necessary.
• Fast‑paced general office environment.