Property Accountant (hybrid office schedule in Northbrook, IL)
Job Summary
The Property Accountant will support the accounting functions for our portfolio of apartment communities, Real Estate Funds and Corporate entities, playing an essential role in the daily, monthly, and annual accounting activities. This position requires a strong attention to detail and the ability to collaborate with internal teams and external stakeholders. The ideal candidate will have a solid understanding of real estate accounting, financial reporting, and cash management processes.
Reports to: Controller
Primary Duties
• Assist in the daily, monthly, and annual accounting activities for a portfolio of properties, including preparation of financial statements, balance sheet account reconciliations, general ledger classifications, cash distributions, and property-level performance returns.
• Coordinate with controller and execute cash transactions such as capital calls, investor distributions, and property acquisitions/sales. Ensure accurate recording of journal entries in accounting software.
• Support the preparation and posting of journal entries, ensuring accuracy and compliance with accounting standards.
• Assist in the coordination and execution of quarterly and annual reporting processes.
• Prepare monthly financial packages, including analysis and reporting for properties and corporate entities.
• Respond to investor inquiries and assist with preparing various investor-level reports, including quarterly reports, annual budgets, and performance analyses.
• Prepare monthly bank reconciliations for property, corporate and fund accounts.
• Collaborate with the Investor Relations Manager to track and update changes in investor information and ensure these are reflected in transactions.
• Play a role in external audits, preparing supporting documentation as required for audit reviews.
• Maintain and update accounting policy and procedure manuals, assisting with internal control improvements and other related matters.
• Assist in reviewing and recording monthly management fees, credit card spending, and interest payments on lines of credit and intercompany loans.
• Interact with other accountants, on-site property personnel, and corporate office personnel to address day-to-day matters and project coordination.
• Assist with acquisition and disposition transactions, including reviewing financial documentation and assisting with Yardi system setups.
• Take the initiative in identifying and reporting potential accounting issues, and work with the team to provide solutions.
• Assist with special projects as assigned, contributing to process improvements and best practices.
Essential Qualifications
• Education: Bachelor's degree in accounting or a related field.
• Experience: Minimum of 2-5 years in real estate accounting.
• Skills: Strong analytical skills, critical thinking, and decision-making abilities. Strong time management skills and ability to multi-task. Excellent oral and written communication skills. Advanced proficiency in Microsoft Excel. Familiarity with Yardi preferred, but not required.
• Personal Traits: Solution-oriented. Respect for others with the ability to be sensitive to the needs of fellow employees and residents we serve. Ability to build relationships and work collaboratively and effectively with diverse groups both internally and externally. Show a commitment to communication, integrity, teamwork, respect, accountability, adaptability, passion, innovation, excellence, quality, and service.
• Additional Requirements: Minimal travel with the ability to attend conferences and visit properties a few times each year. Commitment to organizational goals and adherence to company policies as outlined in the Employee Handbook.
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The Property Accountant will support the accounting functions for our portfolio of apartment communities, Real Estate Funds and Corporate entities, playing an essential role in the daily, monthly, and annual accounting activities. This position requires a strong attention to detail and the ability to collaborate with internal teams and external stakeholders. The ideal candidate will have a solid understanding of real estate accounting, financial reporting, and cash management processes.
Reports to: Controller
Primary Duties
• Assist in the daily, monthly, and annual accounting activities for a portfolio of properties, including preparation of financial statements, balance sheet account reconciliations, general ledger classifications, cash distributions, and property-level performance returns.
• Coordinate with controller and execute cash transactions such as capital calls, investor distributions, and property acquisitions/sales. Ensure accurate recording of journal entries in accounting software.
• Support the preparation and posting of journal entries, ensuring accuracy and compliance with accounting standards.
• Assist in the coordination and execution of quarterly and annual reporting processes.
• Prepare monthly financial packages, including analysis and reporting for properties and corporate entities.
• Respond to investor inquiries and assist with preparing various investor-level reports, including quarterly reports, annual budgets, and performance analyses.
• Prepare monthly bank reconciliations for property, corporate and fund accounts.
• Collaborate with the Investor Relations Manager to track and update changes in investor information and ensure these are reflected in transactions.
• Play a role in external audits, preparing supporting documentation as required for audit reviews.
• Maintain and update accounting policy and procedure manuals, assisting with internal control improvements and other related matters.
• Assist in reviewing and recording monthly management fees, credit card spending, and interest payments on lines of credit and intercompany loans.
• Interact with other accountants, on-site property personnel, and corporate office personnel to address day-to-day matters and project coordination.
• Assist with acquisition and disposition transactions, including reviewing financial documentation and assisting with Yardi system setups.
• Take the initiative in identifying and reporting potential accounting issues, and work with the team to provide solutions.
• Assist with special projects as assigned, contributing to process improvements and best practices.
Essential Qualifications
• Education: Bachelor's degree in accounting or a related field.
• Experience: Minimum of 2-5 years in real estate accounting.
• Skills: Strong analytical skills, critical thinking, and decision-making abilities. Strong time management skills and ability to multi-task. Excellent oral and written communication skills. Advanced proficiency in Microsoft Excel. Familiarity with Yardi preferred, but not required.
• Personal Traits: Solution-oriented. Respect for others with the ability to be sensitive to the needs of fellow employees and residents we serve. Ability to build relationships and work collaboratively and effectively with diverse groups both internally and externally. Show a commitment to communication, integrity, teamwork, respect, accountability, adaptability, passion, innovation, excellence, quality, and service.
• Additional Requirements: Minimal travel with the ability to attend conferences and visit properties a few times each year. Commitment to organizational goals and adherence to company policies as outlined in the Employee Handbook.
Apply tot his job
Apply To this Job