Property Accountant (Property Financial Services Associate)

Accounting - Asset Financial Services
Posted: 07/07/2021
Full Time
Los Angeles, CA
Thge Associate, Property Financial Services is under the direct supervision of Director, Property Financial Services and is responsible for a portfolio of residential and commercial properties. The primary responsibilities include maintaining the accuracy and integrity of property financial transactions and the corresponding property management reporting. The position will be responsible for number of real estate assets’ financial and property management functions including but not limited to billings, receivables, bad debt reserves, payables, bank reconciliations, lease commissions, and budget review. The Associate, Property Financial Services will work closely with Property Management and Accounting staff members to resolve issues, correct errors, and financial statement accuracy. 
General Responsibilities:
  • Assist in the posting of monthly tenant rents for commercial and residential assets
  • Maintain accurate and up to date tenant ledgers and coordinate timely receivable collections with property managers
  • Review receivable aging reports to identify monthly bad debt reserve, and where necessary, process tenant write off requests in accordance with company policy
  • Explore and recommend potential improvements in both Yardi and other reports/schedules and maintain/improve the flow of information from Property Management to Accounting
  • Maintain accurate and up to date excel schedules used to create monthly recurring journal entries for commercial and residential assets
  • Assist in reviewing and recording monthly lease commissions for residential assets
  • Review payables for accuracy and submit for payment in AP system
  • Reconcile bank balance to book balance monthly using the Yardi Bank Reconciliation
  • Specific Responsibilities:
  • Review aging reports and coordinate with property managers regarding timely collection of receivables
  • Where needed, review payables for accuracy, including proper allocation between entities, correct coding to general ledger accounts and correct invoice information
  • Work with property managers to produce bad debt reserve recommendations
  • Verify and review write-off request and bad debts recoveries
  • Follow-up on general requests from property managers and accounting staff.
  • Verify residential commission computation against tenant lease as well as accurate tenant setup in Yardi
  • Coordinate with Property Managers regarding timely submission of invoices
  • Assist in providing requested documents to auditors during annual examination of books and records
  • Assist Accountants on tenant related and accounting issues as needed
  • Perform special projects as assigned
  • Experience/Education:
  • Bachelor’s degree in Accounting, Finance or related field required
  • Minimum of 3-5 years of previous accounting/property management/real estate experience and a demonstrated understanding of basic accounting principles and reporting requirements
  • Real estate/private equity experience a plus
  • Knowledge / Skills:
  • Strong accounting and communication (oral and written) skills
  • Highly analytical and detail oriented
  • Deadline driven and ability to manage multiple tasks
  • Experience with Yardi (or similar property management/accounting software)
  • Proficient in Microsoft Office, with emphasis in Excel and Word
  • CIM does not accept unsolicited resumes from Agencies.  Any unsolicited resumes received from Agencies will be considered property of CIM and no fees will be due or paid.  If you wish to become an approved Agency with CIM or any of its Affiliates, please contact a member of the CIM Talent Acquisition Team.