Property Accountant

Property Accountant PURPOSE OF THE JOB : The Property Accountant is r esponsible for overseeing the complete financial cycle for a portfolio of multifamily communities. Our Property Accounting Department offers a unique blend of full-c ycle accounting, treasury, and financial analysis, creating an environment that fosters growth and development. ESSENTIAL FUNCTIONS AND RESPONSIBILITIES General Accounting and Portfolio Management: Oversee the accounting, treasury and reporting of a portfolio of multi-family properties Review of the monthly financial package (GL, budget comparison, and 12 months rolling P&L) for required reclasses, accruals, and explanations in close collaboration with Community Managers and according to published guidelines. Confirm accuracy and upload petty cash transactions Review G/L and re-class to ensure operating/major expenses and capital expenditures are recorded accurately Calculate accruals for mortgage interest, property taxes, and insurance Calculate and pay management fees to HRP, ensuring the monthly true up is within established materiality thresholds of the actual fee. Review of the Balance Sheet for monthly submissions, focusing on the accuracy of accruals, escrows, and loan amortizations Develop deep understanding of ownership specific reporting requirements and accounting treatments Perform monthly Balance Sheet reconciliations Treasury and Cash Management Functions: Review and process payables weekly, ensuring timely payments to vendors Process utility payments timely to avoid late fees and disconnects Review the daily cash position and forecast for all properties in the portfolio, ensuring timely communication of cash surpluses or deficits to HRP management. Perform daily and monthly bank reconciliations Ensure mortgages are recorded and paid timely Review and track all bank and self-escrows related to tax, insurance, and