JōbSource of North America
Sr Property Accounting Manager
JōbSource of North America, Santa Ana, California, United States, 92725
Overview
HR Professional | Talent Management | Creating People-Centric Hiring Strategies for Organizational Growth
About the Company: A Senior Property Accountant in commercial real estate is responsible for overseeing the financial health, reporting, and compliance of a portfolio of U.S. commercial properties. This role requires advanced knowledge of property accounting, capital expenditures (Capex), and prepares the candidate for progression into a controller position.
About the Role This role involves managing the financial operations of assigned commercial properties, ensuring compliance, and preparing for future growth within the company.
Responsibilities
Oversee all accounting operations for assigned commercial properties (retail, office, industrial).
Prepare and analyze monthly, quarterly, and annual financial statements.
Maintain general ledger, balance sheets, income statements, and cash flow reports.
Manage accounts payable, accounts receivable, and bank reconciliations.
Perform month-end and year-end closing activities.
Review and analyze loan compliance and meeting covenants.
Ensure loan amortization is accounted for properly.
Capex Accounting
Track, categorize, and report all capital expenditures (Capex) for property improvements, equipment, and repairs.
Ensure proper capitalization of assets versus expense, in compliance with GAAP and company policy.
Maintain accurate fixed asset registers and depreciation schedules.
Collaborate with property managers to forecast and budget for future Capex needs.
Budgeting & Forecasting
Develop annual operating and capital budgets.
Conduct budget-to-actual variance analysis and provide explanations for significant deviations.
Support forecasting of property income, expenses, and capital projects.
Lease & Tenant Accounting
Review tenant leases for billing, rent escalations, and reimbursement clauses. Ensure all are current and handled accurately.
Prepare CAM (Common Area Maintenance) reconciliations and tenant billings.
Calculate and process percentage rent and other lease-specific charges.
Compliance & Audit
Ensure compliance with internal controls, company policies, and external regulations.
Assist with external audits, tax filings, and year-end reporting.
Prepare audit schedules and respond to auditor inquiries.
Process Improvement
Identify and implement process improvements for efficiency and accuracy.
Support integration of new property acquisitions into accounting systems.
Qualifications
Bachelors in accounting, finance or related field. CPA a plus.
5+ years in commercial real estate property accounting.
Knowledge of GAAP, real estate regulations and working with auditors and other outside real estate partners, e.g., banks, lenders, investors.
Proficiency in Yardi, AppFolio (used here), or other property software and advanced Excel.
Deep understanding of capital expenditure accounting, asset capitalization and depreciation.
Strong attention to detail, variance analysis, and financial modeling.
Excellent written and verbal communication and ability to present complex financial data.
Ability to work independently and part of a team. Be able to mentor junior staff.
Required Skills
Definition:
Capex refers to funds used to acquire, upgrade, or repair property assets with benefits extending beyond the current year (e.g., roof replacement, HVAC installation).
Accounting Treatment:
Capex is capitalized on the balance sheet and depreciated over its useful life, unlike operating expenses, which are expensed immediately.
Strategic Importance:
Proper Capex accounting impacts property valuation, rent calculations, and long-term financial planning.
Commercial Lending & Compliance Exposure (Preferred Qualifications)
Experience using credit analysis software or performing manual financial statement spreads.
Familiarity with commercial loan regulatory and compliance requirements.
Demonstrated ability to manage complex commercial loan transactions.
Strong understanding of financial ratios analyzed by underwriters in the commercial lending process.
Background working with various commercial loan types (e.g., SBA loans, term loans, lines of credit, construction loans).
Established relationships with Title and Escrow companies, with a clear understanding of their responsibilities in commercial loan transactions.
Career Path: Progression to Controller A Senior Property Accountant with strong Capex and property management experience is well-positioned to advance into a Controller role. Key steps include:
Expanding Leadership: Take on supervisory responsibilities, mentor junior accountants, and participate in strategic planning.
Broader Financial Oversight: Gain experience with company-wide financial reporting, budgeting, and compliance.
Regulatory Mastery: Develop expertise in real estate-specific regulations, tax law, and risk management.
System & Process Ownership: Lead implementation of new accounting systems or process improvements.
Cross-Functional Collaboration: Work closely with asset managers, executives, and external auditors.
Typical Controller Responsibilities
Oversee all accounting functions and staff.
Ensure timely and accurate financial reporting.
Manage audits, tax filings, and regulatory compliance.
Drive budgeting, forecasting, and financial analysis for the organization.
Job Type:
Full-time
Starting Pay:
From $75,000.00 willing to negotiate for the right person.
Benefits
Health insurance
Life insurance
Paid time off
Vision insurance
Application Question(s)
Are you currently, or will you in the future, require sponsorship for employment visa status (e.g., H-1B, TN, or other work authorization) to work in the United States?
Ability to Commute
Santa Ana, CA
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Accounting/Auditing and Finance
Industries
Business Consulting and Services
Get notified about new Property Accounting Manager jobs in Santa Ana, CA.
Disclaimer: This job description is provided for example purposes and reflects typical duties and requirements for this role.
#J-18808-Ljbffr
About the Company: A Senior Property Accountant in commercial real estate is responsible for overseeing the financial health, reporting, and compliance of a portfolio of U.S. commercial properties. This role requires advanced knowledge of property accounting, capital expenditures (Capex), and prepares the candidate for progression into a controller position.
About the Role This role involves managing the financial operations of assigned commercial properties, ensuring compliance, and preparing for future growth within the company.
Responsibilities
Oversee all accounting operations for assigned commercial properties (retail, office, industrial).
Prepare and analyze monthly, quarterly, and annual financial statements.
Maintain general ledger, balance sheets, income statements, and cash flow reports.
Manage accounts payable, accounts receivable, and bank reconciliations.
Perform month-end and year-end closing activities.
Review and analyze loan compliance and meeting covenants.
Ensure loan amortization is accounted for properly.
Capex Accounting
Track, categorize, and report all capital expenditures (Capex) for property improvements, equipment, and repairs.
Ensure proper capitalization of assets versus expense, in compliance with GAAP and company policy.
Maintain accurate fixed asset registers and depreciation schedules.
Collaborate with property managers to forecast and budget for future Capex needs.
Budgeting & Forecasting
Develop annual operating and capital budgets.
Conduct budget-to-actual variance analysis and provide explanations for significant deviations.
Support forecasting of property income, expenses, and capital projects.
Lease & Tenant Accounting
Review tenant leases for billing, rent escalations, and reimbursement clauses. Ensure all are current and handled accurately.
Prepare CAM (Common Area Maintenance) reconciliations and tenant billings.
Calculate and process percentage rent and other lease-specific charges.
Compliance & Audit
Ensure compliance with internal controls, company policies, and external regulations.
Assist with external audits, tax filings, and year-end reporting.
Prepare audit schedules and respond to auditor inquiries.
Process Improvement
Identify and implement process improvements for efficiency and accuracy.
Support integration of new property acquisitions into accounting systems.
Qualifications
Bachelors in accounting, finance or related field. CPA a plus.
5+ years in commercial real estate property accounting.
Knowledge of GAAP, real estate regulations and working with auditors and other outside real estate partners, e.g., banks, lenders, investors.
Proficiency in Yardi, AppFolio (used here), or other property software and advanced Excel.
Deep understanding of capital expenditure accounting, asset capitalization and depreciation.
Strong attention to detail, variance analysis, and financial modeling.
Excellent written and verbal communication and ability to present complex financial data.
Ability to work independently and part of a team. Be able to mentor junior staff.
Required Skills
Definition:
Capex refers to funds used to acquire, upgrade, or repair property assets with benefits extending beyond the current year (e.g., roof replacement, HVAC installation).
Accounting Treatment:
Capex is capitalized on the balance sheet and depreciated over its useful life, unlike operating expenses, which are expensed immediately.
Strategic Importance:
Proper Capex accounting impacts property valuation, rent calculations, and long-term financial planning.
Commercial Lending & Compliance Exposure (Preferred Qualifications)
Experience using credit analysis software or performing manual financial statement spreads.
Familiarity with commercial loan regulatory and compliance requirements.
Demonstrated ability to manage complex commercial loan transactions.
Strong understanding of financial ratios analyzed by underwriters in the commercial lending process.
Background working with various commercial loan types (e.g., SBA loans, term loans, lines of credit, construction loans).
Established relationships with Title and Escrow companies, with a clear understanding of their responsibilities in commercial loan transactions.
Career Path: Progression to Controller A Senior Property Accountant with strong Capex and property management experience is well-positioned to advance into a Controller role. Key steps include:
Expanding Leadership: Take on supervisory responsibilities, mentor junior accountants, and participate in strategic planning.
Broader Financial Oversight: Gain experience with company-wide financial reporting, budgeting, and compliance.
Regulatory Mastery: Develop expertise in real estate-specific regulations, tax law, and risk management.
System & Process Ownership: Lead implementation of new accounting systems or process improvements.
Cross-Functional Collaboration: Work closely with asset managers, executives, and external auditors.
Typical Controller Responsibilities
Oversee all accounting functions and staff.
Ensure timely and accurate financial reporting.
Manage audits, tax filings, and regulatory compliance.
Drive budgeting, forecasting, and financial analysis for the organization.
Job Type:
Full-time
Starting Pay:
From $75,000.00 willing to negotiate for the right person.
Benefits
Health insurance
Life insurance
Paid time off
Vision insurance
Application Question(s)
Are you currently, or will you in the future, require sponsorship for employment visa status (e.g., H-1B, TN, or other work authorization) to work in the United States?
Ability to Commute
Santa Ana, CA
Seniority level
Mid-Senior level
Employment type
Full-time
Job function
Accounting/Auditing and Finance
Industries
Business Consulting and Services
Get notified about new Property Accounting Manager jobs in Santa Ana, CA.
Disclaimer: This job description is provided for example purposes and reflects typical duties and requirements for this role.
#J-18808-Ljbffr