Job Description

Stetz Commercial Properties, LLC

: Commercial Property / Real Estate Accountant

Stetz Commercial Properties (“SCP”) in looking for a seasoned Real Estate/Property Management Accountant for a large portfolio of commercial assets throughout the Greater Puget Sound Area. The ideal candidate will have a solid understanding of accounting principles (GAAP), strong analytical skills and the capability to learn new processes and systems.

The purpose of this position is to fulfill the following responsibilities and functions: provide advanced level, accurate and timely property/real estate accounting information and support, review and/or preparation of financial statements, periodic forecasts and annual budgets, lease abstraction and performing various analytics and/or ad hoc projects as needed.

Lease Administration

• Abstracts tenant leases and enters charge schedules in Yardi.
• Ensures accurate monthly tenant billings.
• Ensures accuracy of cash receipt postings.
• Reconciles tenant security deposits.
• Supports property management team with responding to tenant account inquiries.

Budgeting

• Prepare all aspects of annual budgets including amortization schedules, revenue projections, operating expenses, owner costs, leasing and capital assumptions and leakage analysis.
• Enters approved budgets in Yardi.

CAM/NNN

• Determines controllable versus uncontrollable expenses.
• Determines variable versus fixed expenses.
• Calculates average occupancy.
• Calculates gross up of variable expenses.
• Determines which tenants participate in each expense pool and their pro-rata shares.
• Determines which expenses should be allocated 100% to a specific tenant and excluded from expense pools.
• Prepares annual NNN estimates for all tenants.
• Prepares annual NNN reconciliations for all tenants.
• Performs mid-year expense reconciliation and makes recommendations on whether to adjust tenant billings mid-year.
• Calculates and provides leakage analysis.
• Routinely researches, monitors and develops recommend cost savings strategies and measures to reduce individual operations, projects and overall operating expenses.

Financial Reporting

• Generates and reviews financial packages for accuracy and comprehensive reporting. Prepares packages on a schedule to ensure timely delivery to the client and other management personnel.
• Ensures that all expenses, receipts, owner distributions, funding requests and other transactions for the accounting period have been accurately posted.
• Researches open accounting issues and recognizes potential issues and/or conflicts so corrective action can intercept and minimize issues.
• Maintains general ledger. Post to registers and ledgers, balances and reconciles accounts, prepares journal entries or adjustments to accounts, as needed.
• Prepares bank reconciliations.
• Tracks all expenses and variances to budget.
• Work with property management personnel on monthly Variance/Budget Analysis and Executive Summary.
• Completes reforecasts.
• Maintains proper records/schedules for amortization/depreciation of fixed assets and leasing commissions. Prepares Balance Sheet tie-out.

Accounts Payable

• Reviews and approves coded invoices to ensure accuracy of coding. Identifies, investigates, resolves and reports on discrepancies.
• Submits capital invoices to ownership groups for loan draws, assists with preparation of loan draws for submission to lenders and tracks capital invoices through to payment.
• Monitors cash balances and recommends capital calls and distributions.
• Prepares cash requirement projections and contribution/distribution calcs.
• Manages distribution payments to property owners.
• Tracks and ensures timely payment of debt service.
• Processes and tracks real estate tax payments.
• Processes and tracks property insurance policy dates and payment of premiums.

Other

• Supports due diligence, acquisition and disposition efforts including preparation of opening entries, pre-closing and post-closing pro-rations.
• Provides records and information to appraisers, auditors and tax accountants.
• Maintains accounting controls by preparing and recommending policies and procedures.
• Monitors compliance with accounting principles and company procedures.

EDUCATION and EXPERIENCE

• Degree from a four-year college or university program with an emphasis in accounting, finance or related field required. A minimum of four years prior accounting, finance or related experience required. Experience with real estate accounting software required.

COMMUNICATION SKILLS

• Excellent written and verbal communication skills. Strong organizational and analytical skills. Ability to provide efficient, timely, reliable and courteous service to customers. Ability to effectively present information.

FINANCIAL KNOWLEDGE

• Requires intermediate knowledge of Generally Accepted Accounting Principles (GAAP) and Financial Accounting Standards Board (FASB) regulations including an intermediate knowledge of financial terms and principles to include accounting methods (cash, accrual, and full GAAP).
• Ability to calculate intermediate figures such as percentages, discounts, and/or commissions. Conducts intermediate financial analysis.

REASONING ABILITY

• Ability to comprehend, analyze, and interpret complex documents. Ability to solve problems involving several options in situations. Requires intermediate analytical and quantitative skills.

OTHER SKILLS and ABILITIES

• Intermediate knowledge of computer software and hardware (i.e. Microsoft Office Suite Products). Ability to work in multiple accounting software applications.

SCOPE OF RESPONSIBILITY

• Decisions made with general understanding of procedures and company policies to achieve set results and deadlines. Responsible for setting own project deadlines.

Job Type: Full-time

Pay: $55,000.00 - $75,000.00 per year

Benefits:

• 401(k)
• Health insurance
• Paid time off

Schedule:

• Monday to Friday

Application Question(s):

• The managed properties and management team are located in Washington state. The candidate must be local to the Greater Puget Sound area. When applying, please acknowledge your understanding and acceptance.
• Applicants must have advanced Excel experience. Please state your level of experience.

Education:

• Bachelor's (Required)

Experience:

• Accounting: 5 years (Required)
• GAAP: 3 years (Required)

Work Location: Remote

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