Property Accountant, Commercial Properties, Office/Retail

Published: 6/14/2022

Real Estate

Job Description

Do you live on the Westside and are looking for a shorter commute? A boutique real estate investment and development firm based in Culver City is seeking an experienced Property Accountant to oversee the day-to-day accounting operations for a portfolio of office and retail properties. This company specializes in both development and management in multiple states.

Duties:

Manage the full monthly close process, ensuring the accurate recording of all property operating activity and financial transactions.
Prepare and maintain detailed account reconciliations and supporting schedules for balance sheet and income statement accounts.
Analyze monthly operating results, compare actual performance against budget, and provide explanations for significant variances.
Produce monthly financial packages for investors and lenders, including income, expense, and cash flow forecasts.
Lead the annual budgeting process and support quarterly financial consolidations.
Process daily accounting transactions, including cash receipts, tenant payments, deposits, accounts payable invoices, billing adjustments, and application of prepayments.
Record rental revenue, ancillary income, payroll, accrued liabilities, management fees, asset management fees, and other general and administrative expenses.
Perform monthly bank reconciliations and reconcile security deposit balances to subsidiary ledgers.
Maintain fixed asset records, including capitalization review, depreciation calculations, and amortization schedules.
Account for prepaid expenses, deferred income, loan costs, insurance premiums, and other amortizable assets.
Record and reconcile debt service activity, including principal payments, interest expense, and escrow accounts.
Accurately accrue property taxes and maintain a strong understanding of real estate tax calculations and assessments.
Evaluate and record bad debt reserves, prepaid rent adjustments, and other lease-related accounting transactions.
Partner with Asset Managers to ensure proper capitalization of property improvements and classification of operating expenditures.
Prepare and oversee CAM reconciliations and tenant billings.
Conduct financial analysis, develop reports, and assist with special projects and strategic initiatives as needed.
Coordinate and support annual audits by external auditors, providing schedules, documentation, and timely responses to audit requests.
Perform additional duties and responsibilities as assigned.

Qualifications:

Bachelor’s degree required in accounting or a related area of study with a minor or concentration in accounting
A minimum of four years of experience in accounting or finance roles, preferably in commercial real estate environment

\nCompany Description

TORP Group is a recruitment firm that specializes in placing in: Property and Real Estate Management,
Administrative Support, Accounting, Construction Project Management, and Project Coordination. With a combined experience of over 40 years in the Recruiting industry, Trina Osborn and Bridget Isenberger team up TOgether as Recruitment Partners. Servicing multiple industries, we provide a consultative service to the company and job seeker alike. We are looking to make a direct impact on someone's life by finding them a new position, while at the same time contributing to the success of a corporation with providing them a new team member.

Company Description

TORP Group is a recruitment firm that specializes in placing in: Property and Real Estate Management, \r\nAdministrative Support, Accounting, Construction Project Management, and Project Coordination. With a combined experience of over 40 years in the Recruiting industry, Trina Osborn and Bridget Isenberger team up TOgether as Recruitment Partners. Servicing multiple industries, we provide a consultative service to the company and job seeker alike. We are looking to make a direct impact on someone's life by finding them a new position, while at the same time contributing to the success of a corporation with providing them a new team member.