Property Accountant

Property Accountant

About Us

Generation is a Cressey company focused on real estate ownership and investment in the United States. Its Seattle-area portfolio includes residential, retail, mixed-use and commercial properties, along with land held for future development. Generation reflects Cressey’s long-term approach to real estate, with an emphasis on thoughtful ownership, continued investment and lasting value.

Job Overview

The Property Accountant is responsible for the financial management and reporting of a portfolio of residential and commercial properties. This role focuses on property accounting, including financial reporting, budgeting, reconciliations, cash management, and compliance, and serves as a key liaison between internal teams, vendors, and service providers.

The successful candidate will combine strong accounting expertise, organizational skills, and effective communication to support both financial performance and office operations.

Key Responsibilities

Property Accounting & Financial Management

• Financial Reporting: Prepare and analyze monthly, quarterly, and annual financial statements for assigned properties, including income statements, balance sheets, and cash flow statements. Ensure accuracy and compliance with applicable accounting standards.
• Budgeting & Forecasting: Assist in the preparation, monitoring, and analysis of annual operating budgets and forecasts. Collaborate with operational stakeholders to support strategic financial planning.
• General Ledger Management: Maintain accurate general ledger records, including journal entries, account reconciliations, accruals, and investigation of discrepancies.
• Financial Analysis: Perform variance analyses and identify trends, risks, and opportunities to improve property financial performance. Provide recommendations to support business decisions.
• Cash Management: Reconcile bank accounts, monitor cash flow, and ensure properties are appropriately funded to meet operational requirements.
• Compliance & Audit Support: Prepare supporting documentation for year-end reviews and external audits while ensuring compliance with accounting standards and regulatory requirements.
• Process Improvement: Identify and implement improvements to accounting workflows, reporting processes, and internal controls to enhance efficiency and accuracy.
• Stakeholder Collaboration: Partner with property operations, leasing, and accounts receivable teams to ensure accurate reporting and timely resolution of financial matters.

Commercial Property Accounting

• Review and process property-related expenses, including vendor invoices, utilities, maintenance, repairs, and operating costs.
• Prepare and reconcile annual Common Area Maintenance (CAM) recoveries and operating expense reconciliations in accordance with lease agreements.
• Review lease terms to ensure accurate rent billing, escalation calculations, and recovery of operating expenses.
• Monitor accounts receivable and accounts for payable activities, ensuring rent collections and vendor payments are processed accurately and on time.
• Support monthly and year-end financial reporting requirements for commercial assets.

Residential Property Accounting

• Monitor residential operating expenses and budget performance, identifying opportunities to improve cost efficiencies.
• Oversee rent collection processes and ensure rental income is accurately recorded and reconciled.
• Prepare monthly financial reports and supporting schedules for residential properties.
• Assist with resident accounting inquiries and ensure timely resolution of account discrepancies.

Skills & Qualifications

• Bachelor’s degree in accounting, Finance, Business Administration, or a related field.
• 3+ years of property accounting experience with a strong understanding of GAAP, financial reporting, budgeting, reconciliations, and the full property accounting cycle.
• Proficiency with property management and accounting software; Yardi Voyager experience preferred.
• Previous office management, administrative coordination, or workplace services experience is an asset.
• Strong analytical, organizational, and problem-solving skills with exceptional attention to detail and accuracy.
• Excellent communication and relationship-building skills, with the ability to work effectively with internal and external stakeholders.
• Self-motivated and proactive, with the ability to manage multiple priorities and deadlines in a fast-paced environment.

Pay: $80,000.00 - $90,000.00 per year

Benefits:

• Health insurance
• Paid time off

Work Location: Hybrid remote in Seattle, WA 98101