Property Accounting Manager

Position Overview:

The Property Accounting Manager is responsible for supervising a team of property accountants and overseeing the financial operations of a portfolio of multifamily properties, ensuring accurate accounting, financial reporting, and compliance with regulatory requirements. The role will work closely with property management teams, property owners and clients, and senior leadership to maintain effective financial controls and monthly closing processes. The Property Accounting Manager will also contribute to the overall success of the property accounting department.

Essential Duties and Responsibilities:

Team Leadership and Development:

Supervise and mentor a team of property accountants, providing guidance on accounting processes, policies, and career development.

Conduct performance reviews, provide feedback, and ensure appropriate training for team members to maintain high-performance standards.

Coordinate work schedules and manage staff assignments to ensure timely completion of all accounting tasks.

Provides leadership to the assigned area’s accounting group by interviewing, hiring, orienting, and training team members, and by managing their performance in accordance with the Company’s established policies and procedures.

Property Management Collaboration:

Serve as a primary accounting contact and financial business partner for property managers, regional leaders, asset managers, clients, and senior leadership within the assigned portfolio. 

Provide accounting support to property management teams to help resolve financial discrepancies, ensure accurate reporting, and optimize financial performance.

Financial Reporting, Close, and Technical Accounting:

Assess complex or unusual accounting transactions and determine appropriate treatment in accordance with GAAP, company policy, management agreements, and applicable property requirements. 

Perform detailed reviews of journal entries, general ledger activity, balance sheet and bank reconciliations, accruals, reclasses, financial statements, and other closing documentation. 

Provide accounting support and guidance on real estate transactions such as refinances, insurance claims, and capital improvement projects.

Lead and oversee monthly and year-end close activities for assigned properties, ensuring financial statements and supporting schedules are accurate, complete, and delivered on time. 

Ensures the timely completion and distribution of financial reports to clients and key business leaders, assists in resolving discrepancies and variances in actuals-to-budget, and responds to client requests, questions, and issues related to the on-going financial performance of properties within the assigned area.

Cash Management:

Oversee cash operations for assigned properties, including cash disbursements, deposits, wire transfers, and bank reconciliations.

Ensure efficient cash flow management to meet property-level operational needs, including tenant payments, vendor invoices, and debt obligations.

Internal Controls and Compliance:

Assist in developing and enforcing internal control procedures to ensure accurate financial data and safeguard company assets.

Support audits by providing documentation and answering questions

Stay current on industry best practices, accounting trends, and legal regulations affecting real estate accounting.

System and Process Improvement:

Assist with initiatives to improve efficiency and accuracy in the property accounting processes, including the implementation of accounting software or system upgrades.

Assist with the streamlining of workflows, automation of manual processes, and assist with the integration of new properties or portfolios into accounting systems.

Minimum Qualifications:

Education & Experience: Bachelor's degree in Accounting, Finance, or a related field (CPA preferred). Minimum of 5-7 years of experience in property accounting, with at least 2 years in a supervisory or management role.  Demonstrated experience overseeing multifamily property accounting, financial reporting, close processes, reconciliations, cash management, audits, and internal controls.

Skills:

Proven experience in financial reporting within a property management environment.

Experience with property management financial systems (e.g., Yardi, Entrata, MRI, RealPage) and accounting software.

Excellent communication and interpersonal skills to work effectively with internal and external stakeholders.

Detail-oriented, with the ability to manage multiple tasks and priorities in a fast-paced environment.

Strong knowledge of real estate accounting principles, property management systems, and GAAP.

Leadership capabilities and the ability to mentor and manage a team.

Strong decision-making, problem-solving, and analytical skills

Proficiency in Microsoft Excel and other accounting tools.