Qualified candidates please contact: Christina Smith: 617-247-0505 / christina@kelleraugusta.com
Category:Accounting/Finance 

Property Accountant

Boston, MA

JOB DESCRIPTION

The firm is looking for an experienced Property Accountant to join the team, servicing a mixed portfolio of commercial and residential assets.

Processing

  • Open mail daily.  Stamp date received. 
  • Prepare utility trend sheets for utility bills.
  • Review all vendor statements. 
  • Process checks within 24 hours of receipt and prepare deposit. 
  • Process and pay mortgages, real estate taxes, employee rents, evictions, reserves, inter-company bills, employee reimbursements, other recurring vouchers and any other bills that do not need manager approval.
  • Process approved invoices.  Research any 'past due' amounts or 'credit balances forward'.
  • Pay mortgages, condo fees, utilities, advertising, insurances, monthly reserves and other invoices that need to be paid by due dates.
  • Keep an "Open Invoice" report listing all unpaid invoices in folder at all times. 
  • Input changes to tenant accounts within 48 hours.
  • For any receipts or transfer sheets that cannot be processed – contact appropriate property personnel.  Keep an "Open Item" folder. 

Property Management Reports

  • Review prepaid and delinquent reports weekly.  Determine corrective action and make any necessary changes to tenant account.
  • Review Move-In and Move-Out reports and gross potential reports weekly. 
    • Review lease expirations at the beginning of each month.  Review increase reports and letters.
    • Review CPI increases monthly for commercial properties.  Send increase letters to tenants and copy Property Manager.

Monthly

  • Prepare folder with open invoices, Open Invoice Report, Detail GL for Operating Cash Account, and Income Statement vs Budget.
  • Review Income Statement vs Budget and understand any major variances.
  • Make adjustments as needed. 
  • Ensure that all receipts from property personnel are in for processing. 
  • Review Delinquent and Prepaid reports. 
  • Process move-outs and move-ins.
  • Roll rents as soon as move-ins are complete. 
    • Review Gross Potential reports. Research and correct miscellaneous credits, delinquencies and lost days.
    • Run income statement vs budget. 
    • Run balance sheet. 
    • Prepare all financial reports for Controller.

Reserve Excel Sheets

  • Keep reserve excel sheets up to date for all G/L activity each month.  Reconcile balances. Bring any discrepancies or over or under funded balances to Controller for review and adjustment. 

Annually

  • Prepare tax work papers including all backup and schedules tied to trial balance. 
  • Budgets - prepare projected, annual utility schedules for property managers.  
  • Prepare insurance schedules and input. 
  • Review budgets from managers. Input budgets and payroll budgets from payroll administrator. 
  • After operating budgets are complete, review reserve excel sheets and send to property managers to be used for Capital Budget preparation.
  • Reconcile annual CAMs.
  • Review real estate tax bills and valuations.  Update real estate tax excel schedules with annual changes. 

COMPANY OVERVIEW

Our client is a private real estate developer in business in Boston for over 40 years. The firm’s diverse portfolio includes both residential and commercial assets across a wide range of market sectors. The organization holds its assets long term and self manages.