What are the responsibilities and job description for the Property Accountant position at RIC Property Management?
Job Summary
We are seeking a dynamic and detail-oriented Property Accountant to join our dedicated finance team. The Property Accountant is responsible for the day-to-day financial transactions and accounting functions of the properties managed by RIC Properties. This role manages accounts receivable and accounts payable, tenant collections, CAM budgets and true-ups, journal entries, and mortgage payments, ensuring accurate financial records and timely reporting to owners and RIC management.
Essential Duties and Responsibilities
Accounts Receivable and Collections
- Process accounts receivable for all properties managed by RIC, including tenant billing and rent collection.
- Monitor tenant balances for delinquency and process late fees, as applicable.
- Follow up with tenants on delinquent balances and bring concerns to the attention of the VP, Finance & Administration.
- Deposit monies via remote deposit or deliver cash to the bank.
- Prepare and distribute monthly tenant statements.
Accounts Payable and Disbursements
- Process accounts payable for all properties managed by RIC, including invoice review, coding, and approval routing.
- Pay property expenses via invoice processing or transfer of funds from banking accounts.
- Oversee utility account activity and follow up on billing variances with tenants and/or the Property Controller.
- Manage utility pro-rata shares and update tenant ledgers accordingly.
CAM, Property Tax, and Reconciliations
- Prepare annual CAM budgets and communicate estimated charges to tenants.
- Conduct year-end CAM reconciliations (true-ups) and distribute statements to tenants.
- Reconcile property tax accounts, notify tenants of changes, and adjust ledgers accordingly.
Mortgage Payments and Financial Reporting
- Process monthly mortgage and note payments and update principal and interest balances.
- Prepare and post journal entries for monthly amortizations & depreciation, if applicable.
- Assist in respond to owner requests and inquiries regarding financial activity.
General Accounting Support
- Maintain accurate, up-to-date financial records for assigned properties.
- Support month-end & year-end close processes, including preparation and distribution of forms 1099.
- Prepare security deposit refunds as directed by the Director of Property Management.
- Other applicable duties as assigned.
Organizational Expectations
All employees are expected to uphold the organization’s mission, vision, and core values, represent the company in a professional manner, and foster positive working relationships with internal and external stakeholders.
Qualifications
- Associate’s degree in accounting, finance, or a related field preferred; high school diploma required.
- Minimum of 2-3 years of experience in accounting, bookkeeping, or property management accounting.
- Working knowledge of accounts receivable/payable, CAM reconciliations, and journal entry processing.
- Proficiency with Microsoft Office Suite and property management or accounting software systems.
- Strong attention to detail and organizational skills.
- Excellent written and verbal communication skills.
- Ability to manage multiple priorities and meet monthly reporting deadlines.
Pay: $22.00 - $24.00 per hour
Expected hours: 24.0 – 28.0 per week
Benefits:
- 401(k)
- 401(k) matching
- Flexible schedule
Ability to Commute:
- Cambridge, MN 55008 (Preferred)
Work Location: In person
Salary : $22 - $24