Sr. Property Accountant POST NUMBER: 485420

About the Company
Our client is a private Canadian investment firm. They are looking for a Sr. Property Accountant to join their team!

Why Work Here

• Bonus: 10%
• Vacation: 2-3 Weeks
• Benefits - yes after 3 months
• Pension: yes, after 2 years, 5% match from employer
• Competitive salary

• Manage full-cycle accounting for a portfolio of income-producing properties and related ownership entities.
• Prepare monthly, quarterly and annual financial statements, supporting schedules and management reporting packages.
• Complete month-end and year-end close activities, including accruals, prepaid expenses, amortization, adjusting entries and balance sheet reconciliations.
• Analyze operating results against budget, forecast, prior year and underwriting assumptions, with specific focus on net operating income, cash flow and leasing impacts.
• Monitor portfolio profitability, occupancy, vacancy, collections, operating expenses and recoveries.
• Ensure accounting records are maintained accurately for each property, legal entity, bank account and ownership structure.
• Account for base rent, additional rent, recoveries, utility billings and other property-level revenue streams.
• Prepare and reconcile annual tenant recovery calculations for common area maintenance, realty taxes, insurance, utilities and other recoverable costs.
• Monitor accounts receivable and rent collections.
• Reconcile tenant deposits, security deposits, prepaid rents and other tenant-related balances.
• Maintain project-level accounting for construction projects and major capital improvement program
• Track project budgets by phase, cost code, trade, contract, consultant, property and funding source.
• Monitor acquisition costs, land costs, entitlement costs, municipal charges, development charges, permit fees, planning costs, architectural and engineering fees, legal fees, environmental costs, financing costs and other soft costs.
• Track purchase order commitments and contract balances, invoices and accounts payable.
• Conduct regular reviews with the real estate team.
• Assess whether costs should be capitalized or expensed in accordance with applicable accounting policies and accounting standards.
• Maintain fixed asset continuity schedules, capital asset additions, disposals, depreciation and project capitalization records.
• Coordinate annual property operating budgets in partnership with Real Estate team.
• Prepare quarterly forecasts and updated projections for revenue, recoveries, operating expenses, capital projects and cash flow.
• Maintain strong internal controls over property accounting, tenant billing, vendor payments, construction draws, capital spending and banking activity.
• Review reconciliations, prepare journal entries, accounts payable coding and project cost classifications.
• Identify and implement process improvements to improve reporting accuracy, workflow efficiency and month-end close timelines.
• Participate in ERP, property management system, reporting and automation initiatives.

• Bachelor degree in Accounting, Finance, Commerce or a related discipline. CPA designation completed or in progress preferred.
• 3 to 5 years in property accounting, real estate accounting, construction accounting, development accounting
• Strong understanding of income-producing real estate, lease-based revenue, operating recoveries, property-level reporting, capital projects and ownership reporting.
• Advanced Microsoft Excel skills. Experience with Sage Real Estate or other property accounting and ERP systems preferred.
• Highly organized, detail-oriented and deadline-driven, with strong analytical skills, professional judgment, communication skills and ability to work independently across multiple properties and projects.

Salary Range
$75,000 - $85,000 / year

How to Apply
Click the “Apply Now” button and follow the instructions to submit your resume. Please know that we only accept documents in MS Word or Rich Text formats. 
When referencing this job, quote #485420

This position for employment is for a current vacancy with Vaco/Highspring’s client. You must currently reside within the Greater Toronto Area and be permitted to work in Canada to be considered for this opportunity. A recruiter will be in touch with you if your profile meets our client’s requirements for this role.

Determining compensation for this role (and others) at Vaco/Highspring depends upon a wide array of factors including but not limited to the individual’s skill sets, experience and training, licensure and certifications, office location and other geographic considerations, as well as other business and organizational needs. With that said, as required by local law in geographies that require salary range disclosure, Vaco/Highspring notes the salary range for the role is noted in this job posting. The individual may also be eligible for discretionary bonuses, and can participate in medical, dental, and vision benefits as well as the company’s 401(k) retirement plan. Additional disclaimer: Unless otherwise noted in the job description, the position Vaco/Highspring is filing for is occupied. Please note, however, that Vaco/Highspring is regularly asked to provide talent to other organizations. By submitting to this position, you are agreeing to be included in our talent pool for future hiring for similarly qualified positions. Submissions to this position are subject to the use of AI to perform preliminary candidate screenings, focused on ensuring minimum job requirements noted in the position are satisfied. Further assessment of candidates beyond this initial phase within Vaco/Highspring will be otherwise assessed by recruiters and hiring managers. Vaco/Highspring does not have knowledge of the tools used by its clients in making final hiring decisions and cannot opine on their use of AI products.