Senior Property Accountant

Liberty Personnel Services, Inc.; Lawrenceville (NJ); On-site; USD 90,000 - 110,000; Full time

Job summary

A leading company in real estate management is seeking a Senior Property Accountant in Lawrenceville, NJ. The successful candidate will have extensive experience in preparing CAM reconciliations, utilizing Yardi for property accounting, and will exhibit strong analytical skills. This role requires a Bachelor's degree in Accounting and a solid understanding of commercial lease agreements, alongside a meticulous approach to financial reporting.

Qualifications

• 3-5 years of progressive accounting experience in commercial real estate.
• Experience preparing complex CAM reconciliations and charges.
• Thorough understanding of commercial lease agreements.

Responsibilities

• Prepare and review CAM reconciliations for multiple commercial properties.
• Analyze lease agreements and allocate CAM expenses accurately.
• Prepare monthly and quarterly financial statements and variance reports.

Skills

Analytical skills

Problem-solving

Attention to detail

Communication

Education

Bachelor's degree in Accounting

Tools

Yardi

Microsoft Office Suite

Job description

Senior Property Accountant - Lawrenceville, NJ - $90-110k

Prior/current real estate experience and experience working with Yardi software are required.

Our large, well-known real estate/property management client is seeking a highly motivated and experienced Real Estate Property Accountant to join their team. This role will be primarily responsible for the accurate and timely preparation and thorough review of Common Area Maintenance (CAM) reconciliations and charges for a portfolio of commercial real estate properties. The ideal candidate will possess a strong understanding of commercial lease agreements, excellent analytical and problem-solving skills, and proven proficiency in Yardi real estate accounting software. This position requires meticulous attention to detail, the ability to work independently and collaboratively, and a commitment to ensuring the accuracy and integrity of financial reporting.

Responsibilities:

1. CAM Reconciliation Expertise:
   1. Prepare and review complex annual CAM reconciliations for a portfolio of commercial properties, ensuring compliance with lease agreements and company policies.
   2. Analyze and interpret lease language related to CAM provisions, recoverable expenses, and tenant responsibilities.
   3. Accurately calculate and allocate CAM expenses to tenants based on lease terms and pro-rata shares.
   4. Investigate and resolve discrepancies in CAM charges and reconciliations, communicating effectively with property management and tenants as needed.
   5. Ensure all supporting documentation for CAM reconciliations is complete, accurate, and organized.
   6. Develop and maintain a strong understanding of industry best practices for CAM reconciliation.
2. CAM Charge Management:
   1. Review and approve monthly CAM charges prepared by property management or accounting staff.
   2. Ensure CAM charges are accurately coded and reflect actual operating expenses.
   3. Monitor CAM pools and ensure proper allocation of expenses.
   4. Collaborate with property management to understand budget variances and their impact on CAM charges.
3. Prepare and analyze monthly and quarterly financial statements for assigned properties, including variance analysis related to CAM and operating expenses.
4. Assist with the preparation of budget vs. actual reports and provide explanations for significant variances.
5. Contribute to the annual budgeting process for operating expenses and CAM.
6. Prepare journal entries and maintain accurate general ledger records.
7. Lease Administration & Compliance:
   1. Maintain a thorough understanding of lease agreements and their impact on financial reporting, particularly related to CAM and other recoverable expenses.
   2. Collaborate with lease administration to ensure accurate lease data is reflected in Yardi.
   3. Assist with lease audits and provide supporting documentation as required.
8. Utilize Yardi extensively for all aspects of property accounting, including CAM reconciliation, accounts payable, accounts receivable, general ledger, and financial reporting.
9. Generate and analyze reports from Yardi to support financial analysis and decision-making.
10. Stay current with Yardi updates and best practices.
11. Troubleshoot Yardi-related issues and collaborate with IT support as needed.

Qualifications:

1. Bachelor's degree in Accounting or a related field.
2. Minimum of [Specify number, e.g., 3-5] years of progressive accounting experience in the commercial real estate industry.
3. Strong and demonstrable experience preparing and reviewing complex CAM reconciliations and CAM charges is essential.
4. Proven proficiency in Yardi real estate accounting software is required.
5. Thorough understanding of commercial lease agreements and CAM provisions.
6. Solid knowledge of GAAP (Generally Accepted Accounting Principles).
7. Excellent analytical, problem-solving, and organizational skills.
8. Strong attention to detail and accuracy.
9. Excellent written and verbal communication skills.
10. Proficiency in Microsoft Office Suite (Excel, Word, Outlook).

To apply, please send your resume and references to [e-mail]

Liberty Personnel Services, Inc.
300 Conshohocken State Road, Suite 750