Property Accountant

Job Description

Our client in the construction property management industry is looking for a Property Accountant to join their team on a full time permanent basis.

This position is hybrid in Toronto, requiring 2 + years of full cycle property accounting experience (including CAM reports).

Roles and Responsibilities

• Produce monthly and / or quarterly financial statements as per QuadReal policy and requirements.
• Apply high-level thinking and analysis in preparing financial statements, adjusting for material items, and explaining material variances as needed.
• Use analytical skills to review work comprehensively, presenting meaningful high-level NOI and CAPEX analysis.
• Analyze and understand all balance sheet accounts, ensuring reconciliation of working papers and completion of related processes.
• Understand property expenditures and revenues, and accurately book expense accruals, adjusting only when necessary.
• Communicate and escalate material issues, reporting gaps, or roadblocks promptly.
• Review and approve leases and lease review checklists thoroughly and timely, ensuring all items agree with lease language, including rental charges, security deposits, TI / LLW amounts, and other relevant clauses.

Maintain proper set-up of straight-line rent, recoveries, and other lease-driven accounting processes.

• Ensure files are saved according to standards on the shared drive or Commercial Property Accounting Info Site, maintaining professionalism and transparency.
• Set up and maintain tenant recoveries in the Yardi recovery model per lease language, and use the model to calculate and record monthly and annual operating costs, realty tax recovery adjustments, billings, and estimates.
• Monitor significant cash flow items, ensuring timely and error-free cash distributions, cash calls, and HST reconciliations.
• Compile audit files and supporting documentation for annual property audits or tenant inquiries / disputes as needed.
• Complete year-end operating cost adjustments and tenant billings for assigned properties within the allotted period.
• Review monthly capital and leasing job costs, ensuring accurate job setup with proper status and current forecast information.
• Prepare property budgets and reforecasts within assigned deadlines
• Support acquisition and disposition activities, including post-closing adjustments, and ensure trial balances or outstanding items are resolved promptly after disposition..
• Support other departments with reconciliations, tenant inquiries, financial analysis, etc., as needed.
• Provide supplementary reporting or details as required by the client.
• Offer input / feedback for improving procedures and enhancing quality and efficiency.
• Perform other duties as assigned periodically.

Qualifications and Skills

• Qualified or enrolled CPA designation or relevant work experience in full cycle property accounting
• Minimum 2 years commercial property accounting experience
• Previous retail property accounting experience would be an asset
• Relationship Skills : ability to communicate effectively, both oral and written; ability to develop and sustain cooperative working relationships and contribute to a positive work environment;

willingness to learn and contribute to a dynamic environment that includes new ideas and change

• Organizational / Multi-Tasking : ability to allocate one’s time effectively, work under pressure, and meet tight deadlines;
• ability to handle multiple demands and competing priorities; ability to prioritize workload; ability to work and analyze at a high level;

willingness to learn in a dynamic environment that includes new ideas and change

• Decision Making Skills ability to identify, analyze, and solve problems; ability to take decisive action and seek direction when needed
• Computer Skills intermediate to advance skills in Excel, Word, and other Microsoft Office programs; knowledge of Yardi an asset
13 days ago