Property Accountant - Affordable Housing

Company: Related Companies
Location: Oakland
Posted on: June 7, 2021

Job Description:

Responsibilities

Related is seeking an experienced Property Accountant with strong analytical skills and a disciplined approach to join our growing team. This individual will assist in the oversight of the financial operations of our affordable housing communities, in Oakland, CA. The ideal candidate will be responsible for the property accounting for various residential real estate properties and will collaborate with the Regional and Community Managers to ensure accurate, timely and complete property execution from a financial standpoint. Responsibilties will include:

• Manage site A/R and A/P processes including daily posting of receivables to resident ledgers
• Review and approve resident A/R billing adjustments, security deposit refund requests, and all other accounting entries that impact the income statement
• Reconcile ACH, credit card, money order and personal check payments including preparing and making bank deposits as needed
• Audit and ensure accuracy of rent roll and lease abstracts for assigned properties
• Manage, analyze and audit resident and subsidy ledgers to ensure they are billed correctly each month for all rental and additional charges per their lease
• Submit retroactive ledger adjustments and write off requests to Regional Manager for review/approval
• Ensure that final billing statements and security deposit refund requests are processed timely for former residents in compliance with state and local requirements
• Review A/R aging reports with property manager weekly
• Reconcile A/R and Prepay balances against site software reports
• Ensure that balance due letters, notices to pay rent or quit, and unlawful detainer action is submitted on a monthly basis to residents and engage tenant/landlord attorney as needed
• Prepare weekly collections reports with detailed notes on past due balances (subsidy and resident)
• Work with residents and outside agencies in preparation of informal and formal payment agreements for past due rent. This includes HUD EIV repayment plans and entering the same into Realpage software
• Respond to resident billing inquiries and resolve billing irregularities and disputes
• Review and approve A/P vendor invoices and related allocations
• Facilitate new vendor setup and work with the on-site teams to maintain operational readiness at all times
• Update and maintain vendor database and ensure compliance with Ariba procurement system
• Review permits/business license/property tax for accuracy and process payment timely
• Assist Community Manager with monthly budget variance reporting and preparation of customized reporting for asset management, investor, lenders, etc.
• Assist Community manager in preparing and submitting journal entry requests to accounting- standard, recurring, reversing, adjusting, re-classing, prepaid rent, accruals, etc.
• Review operating and reserve cash balances as directed by portfolio controller, accounting manager or client
• Prepare funding requests as needed to cover shortfalls in capital and/or operating expenses
• Work with Senior Accountants to prepare audit responses and prepare audit packages for auditors
• Assist in the development of the operating budget and ongoing re-forecasting for each property in conjunction with the Community and Regional Manager
• Other tasks and special projects as needed and requested

Benefits:

• Comprehensive Medical, Dental, Vision, Life, Disability & Flexible Spending Accounts
• Paid Time Off & holidays
• 401(K)
• Tuition reimbursement
• Robust modern fertility program
• Incentive bonus program
• Commuter benefits
• Employee Assistance Program & more!

Qualifications

• Minimum 3+ years relevant experience
• Bachelor's degree in Accounting or related field preferred
• Proficient accounting skills, including the ability to read and interpret financial statements
• Strong GAAP knowledge is a plus
• Real estate experience highly preferred
• Proficiency in Microsoft Office
• Proficiency in standard property management accounting systems highly preferred
• Knowledge of RealPage, SAP Ariba, JDE, or Oracle Systems a plus
• Ability to effectively communicate orally and written
• Highly organized, detail oriented with ability to prioritize
• Strong work ethic and team-oriented mentality
• Positive attitude and willingness to learn
• Ability to exercise good judgment and discretion related to confidential matters

#APKB12

#AW1

Overview

Related Management Company is the owner and operator of a premier portfolio of assets valued at over Sixty billion. Our operating portfolio consists of a diversified mix of properties including luxury rental buildings, retail and commercial space, luxury condominium residences, affordable, and workforce housing located throughout the United States.

As the owner and developer for the majority of the RMC portfolio, we have ensured that our buildings are the best assets in their respective submarkets. We provide a diligently maintained property management platform with dedicated professionals who consistently exceeds our residents' and commercial tenants' expectations. Our dedication to providing the highest and most personalized level of service is one of the hallmarks of the company and a key differentiator in the market. For more please visit www.Related.com .

Related is an Equal Opportunity Employer

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Keywords: Related Companies, Oakland , Property Accountant - Affordable Housing, Other , Oakland, California

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