Property Accountant at Vaco, LLC
Farmington Hills, MI 48336
About the Job
Job Summary: We are seeking a detail-oriented and experienced Property Accountant to join our accounting team. The Property Accountant will be responsible for managing the financial aspects of our property portfolio, including accounting for property transactions, financial reporting, budgeting, and variance analysis. This role offers an excellent opportunity for a skilled accountant with real estate industry experience to contribute to our organization's financial success.
Responsibilities:
- Property Accounting:
- Record and reconcile property transactions, including acquisitions, dispositions, leases, and capital expenditures.
- Maintain accurate and up-to-date property accounting records in accordance with GAAP and industry standards.
- Perform month-end and year-end close procedures for property-related accounts.
- Financial Reporting:
- Prepare monthly, quarterly, and annual financial statements for properties, including income statements, balance sheets, and cash flow statements.
- Analyze property performance, variances, and trends to provide insights and recommendations to management.
- Assist in the preparation of financial reports for lenders, investors, and stakeholders.
- Budgeting and Forecasting:
- Collaborate with property managers and asset management teams to develop property budgets and forecasts.
- Monitor actual performance against budgets and forecasts, investigating and explaining variances.
- Identify opportunities for cost savings, revenue enhancement, and operational efficiencies.
- Lease Administration:
- Review and analyze lease agreements to ensure accurate accounting treatment for rent, CAM (Common Area Maintenance), and other lease-related charges.
- Maintain lease databases, track lease terms, and reconcile tenant accounts receivable.
- Compliance and Audits:
- Ensure compliance with lease agreements, regulatory requirements, and internal controls related to property accounting.
- Assist in property audits, tax filings, and coordination with external auditors and tax advisors.
- Financial Systems and Process Improvement:
- Utilize property management and accounting software systems to streamline processes and improve efficiency.
- Identify opportunities for process improvements, automation, and implementation of best practices in property accounting.
- Bachelor's degree in Accounting, Finance, or related field.
- 3+ years of experience in property accounting, real estate accounting, or related roles.
- Knowledge of real estate accounting principles, lease accounting, and property management software (e.g., Yardi, MRI).
- Proficiency in Microsoft Excel and financial analysis.
- Strong understanding of GAAP and financial reporting requirements.
- Excellent attention to detail, analytical skills, and problem-solving abilities.
- Effective communication and collaboration skills with cross-functional teams and stakeholders.
- CPA or relevant professional certification is a plus.
- Competitive salary and benefits package.
- Opportunities for professional development and career growth in the real estate industry.
- Positive and collaborative work environment.
- Health insurance, retirement plans, and other benefits.
Vaco values a diverse workplace and strongly encourages women, people of color, LGBTQ+ individuals, people with disabilities, members of ethnic minorities, foreign-born residents, and veterans to apply.
EEO Notice
Vaco is an Equal Opportunity Employer and does not discriminate against any employee or applicant for employment because of race (including but not limited to traits historically associated with race such as hair texture and hair style), color, sex (includes pregnancy or related conditions), religion or creed, national origin, citizenship, age, disability, status as a veteran, union membership, ethnicity, gender, gender identity, gender expression, sexual orientation, marital status, political affiliation, or any other protected characteristics as required by federal, state or local law.
Vaco LLC and its parents, affiliates, and subsidiaries are committed to the full inclusion of all qualified individuals. As part of this commitment, Vaco LLC and its parents, affiliates, and subsidiaries will ensure that persons with disabilities are provided reasonable accommodations. If reasonable accommodation is needed to participate in the job application or interview process, to perform essential job functions, and/or to receive other benefits and privileges of employment, please contact HR@vaco.com .
Vaco also wants all applicants to know their rights that workplace discrimination is illegal.
By submitting to this position, you agree that you will be giving Vaco the exclusive right to present your as a candidate for the foregoing employment opportunity. You further agree that you have represented information about yourself accurately and have not affirmatively misrepresented your qualifications. You also agree to maintain as confidential, to the fullest extent permitted by law, any information you learn from Vaco about the position and you will limit disclosure of information about the position only to the extent necessary to perform any obligations in furtherance of your application. In exchange, Vaco agrees to exercise reasonable efforts to represent you through all solicitation, job screening and resume dispersal.
Privacy Notice
Vaco LLC and its parents, affiliates, and subsidiaries (“we,” “our,” or “Vaco”) respects your privacy and are committed to providing transparent notice of our policies.
- California residents may access Vaco’s HR Notice at Collection for California Applicants and Employees here.
- Virginia residents may access our state specific policies here.
- Residents of all other states may access our policies here.
- Canadian residents may access our policies in English here and in French here.
- Residents of countries governed by GDPR may access our policies here.
Pay Transparency Notice
Determining compensation for this role (and others) at Vaco depends upon a wide array of factors including but not limited to:
- the individual’s skill sets, experience and training;
- licensure and certification requirements;
- office location and other geographic considerations;
- other business and organizational needs.
With that said, as required by local law, Vaco believes that the following salary range referenced above reasonably estimates the base compensation for an individual hired into this position in geographies that require salary range disclosure. The individual may also be eligible for discretionary bonuses.