Property Accountant
Connect Search, LLC, Oakbrook Terrace, IL, United States
The Property Accountant is responsible for the full-cycle accounting and financial reporting of a portfolio of commercial real estate assets. This role partners closely with property management, asset management, and leadership to ensure accurate financials, strong internal controls, and timely reporting across office, industrial, and/or retail properties.
Key Responsibilities
Property-Level Accounting
Manage full-cycle accounting for an assigned portfolio of commercial properties
Prepare and review monthly, quarterly, and annual financial statements
Maintain general ledger and ensure accurate coding of all transactions
Record accruals, prepaid expenses, depreciation, and amortization
Month-End Close
Execute month-end close process including journal entries and account reconciliations
Analyze variances vs. budget and prior periods; provide commentary
Ensure timely and accurate close in accordance with reporting deadlines
Tenant & Lease Accounting
Record and reconcile rent rolls, CAM recoveries, and tenant billings
Monitor lease terms and ensure proper revenue recognition (ASC 842 familiarity preferred)
Track and reconcile tenant security deposits and leasing activity
Cash Management
Reconcile bank accounts and monitor cash activity across properties
Manage accounts payable and receivable processes
Review and approve invoices in accordance with internal controls
Budgeting & Forecasting
Assist with annual property budgets and reforecasts
Partner with property managers to track operating performance and expenses
Audit & Compliance
Support internal and external audits by preparing schedules and documentationEnsure compliance with GAAP and company accounting policies
Assist with CAM reconciliations and year-end tenant true-ups
Systems & Process Improvement
Utilize property management/accounting systems (e.g., Yardi, MRI, AppFolio)
Identify and implement process improvements to enhance efficiency and accuracy
Qualifications
Required
Bachelor’s degree in Accounting, Finance, or related field
2–5+ years of accounting experience (real estate/property accounting preferred)
Strong understanding of GAAP and financial reporting
Advanced Excel skills (pivot tables, VLOOKUPs, data analysis)
High attention to detail and ability to manage multiple priorities
Preferred
Experience with commercial real estate portfolios (office, retail, industrial)
Familiarity with lease accounting standards (ASC 842)
Experience with Yardi, MRI, or similar property management systems
#J-18808-Ljbffr
Key Responsibilities
Property-Level Accounting
Manage full-cycle accounting for an assigned portfolio of commercial properties
Prepare and review monthly, quarterly, and annual financial statements
Maintain general ledger and ensure accurate coding of all transactions
Record accruals, prepaid expenses, depreciation, and amortization
Month-End Close
Execute month-end close process including journal entries and account reconciliations
Analyze variances vs. budget and prior periods; provide commentary
Ensure timely and accurate close in accordance with reporting deadlines
Tenant & Lease Accounting
Record and reconcile rent rolls, CAM recoveries, and tenant billings
Monitor lease terms and ensure proper revenue recognition (ASC 842 familiarity preferred)
Track and reconcile tenant security deposits and leasing activity
Cash Management
Reconcile bank accounts and monitor cash activity across properties
Manage accounts payable and receivable processes
Review and approve invoices in accordance with internal controls
Budgeting & Forecasting
Assist with annual property budgets and reforecasts
Partner with property managers to track operating performance and expenses
Audit & Compliance
Support internal and external audits by preparing schedules and documentationEnsure compliance with GAAP and company accounting policies
Assist with CAM reconciliations and year-end tenant true-ups
Systems & Process Improvement
Utilize property management/accounting systems (e.g., Yardi, MRI, AppFolio)
Identify and implement process improvements to enhance efficiency and accuracy
Qualifications
Required
Bachelor’s degree in Accounting, Finance, or related field
2–5+ years of accounting experience (real estate/property accounting preferred)
Strong understanding of GAAP and financial reporting
Advanced Excel skills (pivot tables, VLOOKUPs, data analysis)
High attention to detail and ability to manage multiple priorities
Preferred
Experience with commercial real estate portfolios (office, retail, industrial)
Familiarity with lease accounting standards (ASC 842)
Experience with Yardi, MRI, or similar property management systems
#J-18808-Ljbffr