Saglo Companies Senior Property Accountant Miami, FL · Full time

The Senior Property Accountant is responsible for managing the financial integrity, operational efficiency, and long-term sustainability of their assigned portfolio of properties while maximizing returns for stakeholders. This role is instrumental in supporting the overall success of the retail portfolio and achieving the company's business objectives. The Senior Property Accountant will prepare and maintain financial records to track their assets, liabilities, profit and loss, tax liabilities, and other related financial activities.

Description

 Senior Property Accountant

Are you an A Player ready to join a great company and great team? If so, read on!

Saglo Companies, a premier commercial real estate development company, is seeking a Senior Property Accountant to join our professional and talented team. This is a great opportunity to be an integral part of a smaller company where you will be exposed to every aspect of our business. We always do the right thing, ownership is very accessible, with quick feedback and decision making.


All we are missing is you!


More about us:

In business for almost 50 years, we specialize in the acquisition, renovation, and active management of prime neighborhood and community shopping centers. We are experts at what we do. Simply put, our purpose is to empower our people who share our core values to operate shopping centers at the highest potential. Our values encompass all that is Saglo:


  • Service Focused (we care)
  • All About the Team (we lift each other up),
  • Glass Half Full (we see challenges as opportunities)
  • Learning All the Time (we strive to be better)
  • On the Ball (we just get it done).

We are a small, but mighty, team of 30 talented, experienced and passionate group of real estate professionals. We are proud of our strong track record of success with plans to grow our portfolio significantly over the next 5 years. You will love working here.

Please visit us at www.saglo.com to learn more!

 

More about the role:

The Senior Property Accountant is responsible for managing the financial integrity, operational efficiency, and long-term sustainability of their assigned portfolio of properties while maximizing returns for stakeholders. This role is instrumental in supporting the overall success of the retail portfolio and achieving the company's business objectives. The Senior Property Accountant will prepare and maintain financial records to track their assets, liabilities, profit and loss, tax liabilities, and other related financial activities.

 

DUTIES AND RESPONSIBILITIES:

Tenant Accounting: Manage tenant accounting processes, including rent invoicing, rent collection, accounts receivable management, and resolution of tenant billing inquiries or disputes.


o  Tenant Relations Management: Foster positive tenant relationships through proactive communication, responsiveness to tenant concerns, and fair resolution of billing disputes or other issues.


o  Payment Arrangement Negotiation: Work with tenants to negotiate payment arrangements or alternative payment schedules for overdue balances, ensuring compliance with company policies and lease agreements.


o  Tenant Default Management: Manage tenant defaults and lease breaches, including initiating legal proceedings for eviction or lease termination as necessary to enforce lease terms and protect the landlord's interests.


Budgeting and Expense Management: Assist in the development of property budgets, track actual expenses against budgeted amounts, and identify opportunities to optimize cost efficiencies.


Cash Management: Monitor cash flows, manage bank accounts, process payments, and optimize liquidity to meet operational needs.


EOM Closing:

  • Bank Reconciliations (Following Division of Duties)
  • Processing Management Fees
  • Confirm all mortgages have been posted in GL
  • Recurring Invoices – Make sure they are all posted in MRI
  • Leasing Commissions – Make sure all paid and posted in MRI by month end.
  • Business Expense Reimbursements - Make sure all paid and posted in MRI by month end.
  •  Review account 3500-000 (Other Liabilities) – This applies to all project contracts, recurring invoices which have not been paid, but they have been accrued for based on budget and/or fixed monthly amounts.
  • Review account 1106-000 (Other Receivables) – This applies to utility security deposits.
  • Post monthly Journal Entries to reclassify any expenses or income which was posted to the wrong account (this should be minimal).
  • Ensure that all supporting schedules agree to the Trial Balance.
  • Review for credit balances in asset accounts and debit balances in liability accounts and document any exceptions below.


Financial Reporting: Prepare and analyze financial statements, including balance sheets, income statements, and cash flow statements, ensuring accuracy and compliance with accounting standards (e.g., GAAP). Review quarterly investor reports.

Review preliminary financial statements and evaluate financials.


CAM reconciliations: Perform annual reconciliations of Common Area Maintenance (CAM) expenses, allocate costs to tenants, and prepare reconciliation statements for billing and reporting purposes.


Review Detail Aged Accounts Receivable report for:        

  • any unusual items, mis-posted entries, etc. and if necessary, make any manual adjustments to the General Ledger until the Detailed Aged Accounts Receivable report can be corrected. Document any manual adjustments.
  • any tenants who have moved out before their lease expiration to make sure we have stopped posting charges to the Detailed Aged Accounts Receivable report as of their move out date.


Credit balances: Ensure any material credit balances related to prepaid rent have been appropriately reclassified to Unearned Rental Income, if required by client


Lease Administration: Oversee lease administration functions, including entering new leases and any other lease documents in accounting system, lease abstraction, rent escalations, lease amendments, and ensuring compliance with lease terms and reporting requirements.

o  Print Lease Profile and deliver it along with copy of lease and space delivery letter to Controller for review.

o  Set up expense pools as needed and set up recoveries information for each new lease.


Billing: Process monthly billing and generate and distribute invoices to all tenants on a timely basis. 

o  Download CPI data from the Dept of Labor and Statistics – Update CPI tables in MRI.

o  Invoice Late Fees and CPI Increases no later than the 19th day of month

o  Process Tenant Monthly Billing by the 20th of each month

o  Post security deposits

o  Manage billback process as needed


Collections: Implement and oversee the rent collection process, including tracking payment receipts, posting transactions to accounting records, and reconciling accounts receivable balances.

o  Generate and distribute rent invoices to tenants in accordance with lease agreements, detailing rental charges, due dates, and payment instructions

o  Establish and maintain regular communication channels with tenants to address inquiries, provide payment reminders, and resolve billing disputes promptly.


Accounts Receivable Management: Monitor accounts receivable balances, follow up on overdue payments, and implement collection strategies to minimize delinquencies.

o  Daily posting of rent payments to CM

o  Invoice tenants by the 20th of each month

o  Invoice Late fees & CPI increases by the 19th

o  Post security deposits in CM and contact tenants with short payments

o  Respond to calls from tenants

o  Issue notices and assist in the collections and legal process

o  Review the outstanding check listing for checks >90 days old. Investigate and document any items below


Accounts Payable Management:

o  Annual Real Estate Tax payments – and recasting RET escrow accounts to make sure we have enough funds when they are due in November.

o  Processing all work orders (at least every two weeks) – Review maintenance employee hours (currently using Building Engines)

o  Process all payments which are not paid through AvidXchange

o  Capital Projects – Review invoices and confirm they are consistent with contracts

o  Tenant Improvement Package Review and payment – Make sure it is consistent with Lease terms

o   Management Fees, Labor Fees other fees

o  Credit Card Payments (Amex, HomeDepot, Chase, Amazon) – Match statement with receipts. Pay all CC bills well in advance of due date.

o   Leasing Commissions (at least once per month, better twice per month)

o  Business Expense Reimbursements (at least once per month, better twice per month)

o  Certain Saglo vendor payments, etc.

o   Reimbursement of tenant security deposits

o  Manage and maintain Vendor list

o  Vendor communications


Administrative: Maintain Financial and Accounting Records – In MRI, electronic records and physical files.


Performs other related duties as assigned by management.

 

SUPERVISORY RESPONSIBILITIES:

·        This job has no supervisory responsibilities.

 

QUALIFICATIONS:

·        Bachelor's Degree (BA) from four-year college or university, or one to two years of related experience and/or training, or equivalent combination of education and experience.

·        Retail and/or Property Accounting experience required.

·        Computer skills required: Accounting Software; CRM, work order management software suite, Microsoft Office Suite; Project Management Software)

·        Other skills required:

·CAM Reconciliation experience, required

 

 

COMPETENCIES:

·        Financial Acumen: Strong understanding of accounting principles, financial analysis, and reporting standards is essential. This includes proficiency in financial modeling, budgeting, forecasting, and variance analysis.

·        Real Estate Knowledge: Familiarity with commercial real estate terminology, lease structures, and industry-specific accounting practices is crucial. Understanding the nuances of retail property management, leasing agreements, and market dynamics is beneficial.

·        Attention to Detail: The ability to meticulously review financial documents, analyze data, and identify discrepancies is essential. Accuracy in financial reporting and adherence to accounting standards are paramount.

·        Analytical Skills: Strong analytical and problem-solving skills are necessary for interpreting financial data, identifying trends, and making informed decisions. The ability to analyze property performance metrics and financial statements is key.

·        Communication Skills: Effective communication skills, both verbal and written, are important for conveying financial information to stakeholders, collaborating with cross-functional teams, communicating with tenants and presenting findings to management.

·        Team Collaboration: The ability to collaborate with property managers, leasing agents, and other stakeholders is critical. Senior property accountants often work closely with different departments to achieve common goals and resolve issues.

·        Time Management: Efficient time management and organizational skills are necessary for managing multiple tasks, meeting deadlines, and prioritizing responsibilities effectively in a fast-paced environment.

·        Technology Proficiency: Familiarity with accounting software, lease management systems, and Microsoft Excel is essential. Experience with specialized real estate accounting software such as MRI Software, Yardi, or Argus is beneficial.

·        Ethical Standards: Adherence to ethical standards and integrity in financial reporting is paramount. Senior property accountants must demonstrate honesty, transparency, and accountability in their work.

·        Adaptability: The ability to adapt to changes in the regulatory environment, market conditions, and company policies is important. Flexibility and willingness to learn new skills are valuable traits in a dynamic industry like commercial real estate.

·        Strategic Thinking: The capacity to think strategically and contribute to long-term planning initiatives is beneficial. Senior property accountants may participate in strategic discussions and provide financial insights to support business objectives.

·        Judgement - Displays willingness to make decisions; Exhibits sound and accurate judgment; Supports and explains reasoning for decisions; Includes appropriate people in decision-making process; Makes timely decisions.

·        Organizational Support - Follows policies and procedures; Completes administrative tasks correctly and on time; Supports organization's goals and values; Benefits organization through outside activities; Supports affirmative action and respects diversity.

·        Professionalism - Approaches others in a tactful manner; Reacts well under pressure; Treats others with respect and consideration regardless of their status or position; Accepts responsibility for own actions; Follows through on commitments.

·        Quality - Demonstrates accuracy and thoroughness; Looks for ways to improve and promote quality; Applies feedback to improve performance; Monitors own work to ensure quality.

·        Quality Management - Looks for ways to improve and promote quality; Demonstrates accuracy and thoroughness.

·        Teamwork - Balances team and individual responsibilities; Exhibits objectivity and openness to others' views; Gives and welcomes feedback; Contributes to building a positive team spirit; Puts success of team above own interests; Able to build morale and group commitments to goals and objectives; Supports everyone's efforts to succeed.

·        Technical Skills - Assesses own strengths and weaknesses; Pursues training and development opportunities; Strives to continuously build knowledge and skills; Shares expertise with others.

 

PHYSICAL DEMANDS AND WORK ENVIRONMENT:

  • Occasionally required to stand
  • Occasionally required to walk
  • Continually required to sit
  • Continually required to utilize hand and finger dexterity
  • Frequently required to talk or hear
  • While performing the duties of this job, the noise level in the work environment is usually moderate)
  • Specific vision abilities required by this job include: Close vision and ability to adjust focus

 

 


The above is intended to describe the general content of and requirements for the performance of this job. It is not to be construed as an exhaustive statement of duties, responsibilities or physical requirements. Nothing in this job description restricts management’s right to assign or reassign duties and responsibilities to this job at any time. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.


Salary

$80,000 - $85,000 per year