Property Accountant

Job Description

Experience: Mid Level

Salary: $80,000 - $90,000 per year

Silver Spring, MD, US

• Prepare and maintain pre-development project budgets.
• Track land acquisition, zoning, permitting, entitlement, and soft costs.
• Monitor feasibility study expenses against approved budgets.
• Develop and maintain project pro formas.
• Record and classify pre-development expenditures including legal, engineering, architectural, and due diligence costs.
• Maintain general ledger accounts and capitalization schedules.
• Monitor equity contributions and financing draws.
• Prepare lender and investor draw requests with supporting documentation.
• Track loan interest, fees, and repayment schedules.
• Produce monthly financial reports for management and project stakeholders.
• Perform budget-to-actual variance analysis.
• Support investor reporting and capital partner communications.
• Maintain job cost reports by project and cost code.
• Process contractor invoices and progress billings.
• Prepare monthly construction draw packages including lien waivers and compliance documentation.
• Reconcile lender draw disbursements and project costs.
• Monitor contingency funding and project forecasts.
• Prepare development-phase financial statements.
• Ensure compliance with loan agreements, investor requirements, and audits.
• Track insurance, bond costs, and project-related obligations.
• Support process improvement initiatives and special projects.

• Bachelor's Degree in Accounting or Finance required.
• Minimum 7+ year of accounting experience in a construction, general contracting, real estate development, or project-based environment with at least $10M+ annual revenue exposure.
• Experience with construction accounting principles including job costing, revenue recognition, general ledger accounting, and payroll taxes.
• Experience preparing financial statements, financial reports, and management reporting packages.
• Strong Excel skills required.
• Experience with Quick Books required.
• Experience with real estate accounting, property accounting, or development accounting preferred.
• LIHTC (Low-Income Housing Tax Credit) experience preferred.
• Experience preparing lender draw requests and construction loan documentation preferred.
• Ability to analyze project budgets, forecasts, and variances.
• Strong attention to detail and ability to manage multiple projects simultaneously.

• 1. Managing the financial aspects of our property portfolio, including budgeting, forecasting, and financial reporting.
• 2. Utilizing Yardi software for property management accounting, including accounts payable, accounts receivable, and general ledger.
• 3. Conducting lease administration and ensuring compliance with lease agreements.
• 4. Performing year-end close procedures and preparing financial statements.
• 5. Analyzing financial data and providing strategic recommendations to senior management.
• 6. Ensuring compliance with local, state, and federal tax regulations and filing requirements.
• 7. Collaborating with internal teams and external auditors to facilitate financial audits.
• 8. Developing and implementing financial policies and procedures to improve efficiency and effectiveness.
• 9. Maintaining up-to-date knowledge of industry trends and advancements in property accounting.

• 1. A Bachelor’s degree in Accounting, Finance, or related field.
• 2. A minimum of 7 years of experience in property accounting or a related role.
• 3. Proficiency in Yardi property management software.
• 4. Extensive experience in lease administration and year-end close procedures.
• 5. Strong understanding of accounting principles, tax laws, and financial reporting standards.
• 6. Excellent analytical, problem-solving, and decision-making skills.
• 7. Exceptional attention to detail and accuracy.
• 8. Strong interpersonal and communication skills, with the ability to effectively communicate financial information to non-financial personnel.
• 9. Proficiency in Microsoft Office Suite, particularly Excel.
• 10. Ability to work independently and as part of a team, managing multiple projects simultaneously.

Founded nearly two decades ago and based in Maryland, with additional…