Job brief
We are seeking a detail-oriented Property Accountant to join our real estate finance team and take ownership of accounting operations across our growing commercial and residential property portfolio. In this role, you will manage rent collections, CAM reconciliations, and tenant billing while ensuring accurate financial reporting that supports our property management and investment strategies. You will work closely with property managers, leasing teams, and asset managers to maintain the financial integrity of properties valued at over $500 million. If you have a passion for real estate finance and thrive in an environment that values precision, collaboration, and professional growth, this opportunity offers excellent career advancement potential.
Key highlights
- Process monthly rent rolls and tenant receivables using Yardi Voyager or MRI Software, ensuring accurate posting of base rent, percentage rent, and additional charges
- Prepare detailed CAM reconciliations for commercial tenants, calculating actual expenses against budgeted amounts and generating tenant billings or credits
- Generate monthly property-level financial statements and variance reports, analyzing budget-to-actual performance for property managers and asset teams
- Coordinate tenant security deposit accounting in compliance with state regulations, maintaining detailed records and calculating interest where required
What is a Property Accountant?
A Property Accountant is a specialized accounting professional who manages the financial operations of commercial and residential real estate portfolios. Working with property management software such as Yardi Voyager, MRI Software, or RealPage, Property Accountants handle rent collections, common area maintenance (CAM) reconciliations, operating expense allocations, and tenant billing processes. Their expertise in real estate accounting principles, including percentage rent calculations and triple net lease structures, ensures accurate financial reporting that supports property valuation, investor distributions, and regulatory compliance across multi-property portfolios.
What does a Property Accountant do?
A Property Accountant processes monthly rent rolls and tenant receivables, reconciles operating expense recoveries against actual costs, and prepares detailed CAM reconciliations for commercial tenants. They generate property-level financial statements, calculate percentage rent based on tenant sales reports, and manage security deposit accounting in compliance with state regulations. Daily tasks include posting journal entries in property management systems, reviewing lease abstracts for billing accuracy, coordinating with property managers on budget variances, and preparing investor reporting packages that include cash flow statements and variance analyses for individual properties or entire portfolios.
Key responsibilities
- Process monthly rent rolls and tenant receivables using Yardi Voyager or MRI Software, ensuring accurate posting of base rent, percentage rent, and additional charges
- Prepare detailed CAM reconciliations for commercial tenants, calculating actual expenses against budgeted amounts and generating tenant billings or credits
- Manage accounts payable for property operations, coding invoices to appropriate expense categories and ensuring proper allocation across multiple properties
- Generate monthly property-level financial statements and variance reports, analyzing budget-to-actual performance for property managers and asset teams
- Coordinate tenant security deposit accounting in compliance with state regulations, maintaining detailed records and calculating interest where required
- Support annual budget preparation by analyzing historical operating expenses, utility costs, and capital expenditures for each property in the portfolio
- Assist with year-end audit processes by providing detailed tenant aging reports, lease schedules, and supporting documentation for external auditors
- Maintain lease administration records by reviewing lease abstracts, updating rent escalations, and ensuring accurate billing of tenant reimbursements
Requirements and skills
- Proficiency in property management software such as Yardi Voyager, MRI Software, RealPage, or Buildium for rent roll processing and financial reporting
- Strong understanding of real estate accounting principles including CAM reconciliations, percentage rent calculations, and triple net lease structures
- Advanced Excel skills for financial modeling, pivot tables, and VLOOKUP functions used in rent roll analysis and expense allocations
- Bachelor's degree in Accounting, Finance, or Real Estate with coursework in property management or real estate finance preferred
- 2+ years of experience in property accounting, real estate finance, or commercial property management with exposure to multi-property portfolios
- Knowledge of GAAP accounting standards as they apply to real estate, including lease accounting under ASC 842 and revenue recognition principles
- Experience with month-end close processes, including accruals, deferrals, and journal entry preparation for property-level financial statements
- Excellent analytical skills with ability to identify discrepancies in tenant billings, expense allocations, and cash flow reconciliations
FAQs
What does a Property Accountant do on a daily basis?
A Property Accountant handles the day-to-day financial operations of real estate properties, including processing rent payments, managing tenant accounts receivable, and preparing CAM reconciliations for commercial leases. They work extensively with property management software like Yardi or MRI to post journal entries, generate rent rolls, and track operating expenses across multiple properties. Daily responsibilities also include reviewing lease abstracts for billing accuracy, coordinating with property managers on budget variances, and maintaining detailed records for security deposits and tenant reimbursements.
What skills and qualifications does a Property Accountant need?
A Property Accountant needs proficiency in property management software such as Yardi Voyager, MRI Software, or RealPage, combined with strong knowledge of real estate accounting principles including CAM reconciliations and percentage rent calculations. Most positions require a bachelor's degree in accounting or finance plus 2+ years of experience in property accounting or real estate finance. Advanced Excel skills are essential for financial modeling and rent roll analysis, while knowledge of GAAP standards as they apply to real estate, particularly ASC 842 lease accounting, is increasingly important in today's regulatory environment.
Who does a Property Accountant work with in their role?
Property Accountants collaborate closely with property managers to review operating budgets, analyze expense variances, and ensure accurate tenant billing. They work with leasing teams to understand lease terms and rent escalations, coordinate with asset managers on financial reporting and investor distributions, and interface with external auditors during year-end reviews. They also maintain regular contact with tenants regarding billing inquiries, CAM reconciliations, and security deposit matters, while supporting regional controllers and finance directors with portfolio-level financial analysis and reporting.
What is the career path and salary range for Property Accountants?
Property Accountants typically earn between $50,000-$70,000 annually for entry-level positions, with senior Property Accountants earning $65,000-$85,000 depending on portfolio size and geographic location. The career path often progresses from Property Accountant to Senior Property Accountant, then to Property Accounting Manager overseeing multiple properties or regions. Many professionals advance to Asset Manager, Portfolio Controller, or Regional Finance Director roles within real estate investment trusts (REITs), property management companies, or real estate private equity firms, with senior positions offering compensation packages exceeding $100,000 plus performance bonuses.