Job Description
About the Company : Founded in 1983, AKAM provides unparalleled knowledge, industry-leading technology, cost-saving initiatives, and the best customer service in the industry to every condominium, cooperative, homeowners association, and investment property we service. From comprehensive financial oversight to operations management, compliance administration, and violation removal, we maximize operational efficiency and value for our clients.
What we offer: AKAM is proud to be Great Place to Work-Certified™. Learn more about our company by visiting akam.com. Our benefits include several healthcare, dental and vision options, a retirement program, paid time off plans, 11 paid holidays per year, educational reimbursement, transportation discount purchase programs, service, and performance awards - in addition various social and recreational activities.
The Commercial Property Accountant is responsible for managing financial operations and reporting for commercial real estate properties. This role involves overseeing the financial aspects of property management, including budgeting, financial reporting, lease administration, and ensuring compliance with accounting standards and company policies. The accountant will work closely with property managers, owners, and other stakeholders to provide timely and accurate financial information, contributing to the efficient operation and profitability of commercial properties.
Key Responsibilities: - Financial Reporting:
- Prepare monthly, quarterly, and annual financial statements for commercial properties, ensuring accuracy and adherence to accounting principles.
- Reconcile property-related accounts, including cash, bank, and balance sheet accounts.
- Provide variance analysis of actual vs. budgeted financial performance, highlighting discrepancies and suggesting corrective actions.
- Budgeting and Forecasting:
- Assist in preparing annual budgets for individual properties or portfolios, including income, expenses, and capital expenditures.
- Monitor actual performance against budgeted figures and assist with forecasting future financial outcomes.
- Prepare cash flow forecasts and ensure sufficient funds are available for property operations and capital improvements.
- Lease Administration:
- Maintain accurate records of tenant leases, ensuring timely and correct billing of rent, common area maintenance (CAM), property taxes, and other charges.
- Assist in reviewing lease agreements to ensure terms are properly reflected in the financial records.
- Process tenant payments and follow up on overdue accounts, working with property managers to address payment issues.
- Property Financial Operations:
- Oversee the accounts payable and receivable process for the properties, ensuring timely and accurate invoicing and payment processing.
- Monitor and track operating expenses to ensure they remain within budgeted parameters.
- Manage and allocate property-level expenses, including utilities, insurance, maintenance, and property management fees.
- Tax and Compliance:
- Ensure that all property tax filings, including real estate taxes, are timely and accurate.
- Coordinate with tax advisors and auditors to ensure compliance with all local, state, and federal regulations.
- Assist with the preparation of annual property tax returns and property-specific tax reporting.
- Audit and Internal Controls:
- Assist in internal and external audits, providing necessary documentation and explanations for financial records.
- Implement and maintain internal controls over property-related financial transactions to prevent fraud or errors.
- Review and improve financial processes and workflows to enhance efficiency and accuracy.
- Communication & Collaboration:
- Liaise with property managers, owners, and other team members to provide financial insights and support.
- Provide clear and concise financial reports to senior management, helping inform strategic decisions.
- Assist in the preparation of presentations for property owners and investors.
- Technology and Systems Management:
- Utilize accounting software and property management platforms (e.g., Yardi, MRI, or others) to track financial data.
- Implement and maintain financial systems to streamline operations, ensuring accuracy and efficiency in reporting.
Job Tags
Holiday work, Local area,