You need a property accountant in the finance department if you are working in real estate sector. When it comes to a senior property accountant, they need to have significant experience and formal education as they have to take care of the financial aspects of commercial, industrial as well as residential properties.
Job Duties of a Senior Property Accountant
The job duties of a senior property accountant vary from firm to firm. However, the common role of a senior property accountant is to prepare income statements and financial reports every month for the company.
Let’s have a deeper look into the role:
- They are responsible for regular accounting of a portfolio of properties assigned with
- Along with this, they are also responsible to approve account payables, perform general ledger reconciliation and record monthly data
- Conduct periodic reviews and audits of the inventory as and when needed
- Provide guidance to managers of the different departments for repair and maintenance of the company’s assets
Skills and Experience
Senior property accountants need to have a diverse set of skills in order to perform their job duties well:
- Advanced computer and spreadsheet skills
- Complete knowledge of the real estate laws at federal and state level
- Knowledge of accounting and property management softwares used by real estate firms including Yardi, Appfolio, RealPage and MRI
- The real estate accountant should be able to set up escrow accounts for real estate portfolios
- They should be able to perform budget management and maintain company’s financial records and transactions regularly
When it comes to experience, they should have at least 5 years of experience working as a property accountant. But again, it depends upon the employer’s requirement as well.
Most of the real estate employers generally expect a senior property accountant to have a bachelor’s degree. Often having a master’s degree in accounting works as an additional advantage. In order to be competitive in this job category a master’s degree in accounting or equivalent is required. To stay up to date, certain certifications and additional courses related to property accountant are recommended. In order to be most productive in the job, great mathematical and organizational skills, problem-solving ability, listening and interpersonal skills are desired.
OHI is a specialized real estate service provider since 2006, providing services in Accounting, Leasing, Administration, Analysis and allied services.
Our solution provides you with dedicated, full-time and experienced Property Accountants at economical prices. With our services you can be sure to:
- Save 30-50% on your accounting costs. Savings of about $3000 per month on each property accountant hired from us
- Close your books faster. Get your monthly financials by 10th of every month
- Seasonal work load? NO ISSUES. Hire us only when you need us