Property Accountant in Woodbridge Township, NJ at Vaco

Date Posted: 11/14/2022

Job Snapshot

Job Description

Property Accountant Job Description

Job Responsibilities:

  • Handle all aspects of accounting and reporting for assigned properties
  • Perform financial transition tasks in connection with property acquisitions; book property acquisitions, based upon review of closing documents with the assistance of Senior Accountants
  • Set-up new properties in MRI including all buildings, suites, tenants, AP, cash accounts, alternate chart of accounts, project hierarchy, etc.
  • Leasing: abstract leases and enter lease data, including related lease liabilities, into MRI, work with collection manager and property managers to monitor tenant AR, maintain security deposit sub-ledgers, coordinate tenant billings with Junior Accountants
  • Preparation of annual operating expense and onreal estate tax reimbursement reconciliations
  • Cash: Perform electronic banking functions, including processing of wire transfers, review and post daily cash activity entered by Junior Accountants, review and approve AP for processing - request check runs, prepare monthly bank reconciliations
  • Process monthly property closings in MRI for assigned properties [post sub-ledger activity, review trial balances, calculate management fees, perform detailed GL review and account analysis, book accruals, calculate depreciation and amortization]
  • Prepare monthly and/or quarterly financial reporting packages including financial statements, variance analysis along with supporting schedules for distribution to joint venture partners, lenders and internal management
  • Prepare year-end audit and tax workpapers to be reviewed by Senior Accountants
  • Prepare annual budgets [using Kardin] in conjunction with property management and asset management teams, attend budget meetings, prepare final budget packages
  • Preparation of cash reforecasts and cash flow projections, as necessary
  • Equity [Distributions to / Capital Calls to Partners/Members]: assist Asset Management team with calculations [including distribution waterfalls], coordinate notice to Partners/Members, process distributions, track receipt of capital calls with the assistance of Senior Accountants
  • Loan administration: abstract loan documents, monitor lender reserve accounts, prepare draw requests, financial reporting compliance
  • Work with attorneys regarding real estate tax appeal efforts, including filing of annual income and expense reports
  • Property Dispositions: perform financial transition tasks for property dispositions, assist Asset Management team in connection with property sales, as needed, prepare and/or review tenant estoppel certificates in connection with sale, calculate gain or loss on property sales, wind down partnerships/LLCs post-sale with the assistance of Senior Accountants

Required Skills:

  • Software skills: Microsoft Word, Excel, MRI and budget software a plus
  • Strong written and verbal communication skills
  • Ability to work well with others as part of a team
  • Ability to abstract / interpret various legal documents (loans, leases, joint venture agreements, etc)
  • Real estate experience a plus