Property Accountant

Waypoint Real Estate provides commercial brokerage, property management, and investment services in Northern Colorado and Southern Wyoming. We are seeking a detail-oriented Property Accountant to join our accounting team, managing full-cycle accounting for an assigned portfolio of commercial properties.

About the role

Reporting to the Accounting Manager, you will handle monthly financial reporting, tenant billing, and owner distributions. This is an early to mid-level career position: we welcome both accountants building a career in commercial real estate accounting and experienced accountants ready to grow their portfolio.

Responsibilities

• Financial Reporting: Prepare and analyze monthly financial statements for your assigned portfolio of commercial properties. Generate accurate and timely reports on property performance, income statements, and balance sheets. Conduct variance analysis and provide insightful commentary on financial results.
• Lease Administration: Oversee lease administration processes, ensuring accurate and up-to-date records of lease agreements. Calculate and process rent escalations, common area maintenance (CAM) reconciliations, and tenant billings. Collaborate with property managers to address tenant financial inquiries and resolve discrepancies.
• Budgeting and Forecasting: Assist in the development and maintenance of annual property operating budgets. Work with the property management team to maintain cash flow forecasts. Anticipate and report significant forecasted cash transactions such as distributions, contributions, large capital needs, tenant finish, property tax payments, loans, and other anticipated expenses. Monitor actual performance against budgets and provide recommendations for improvement.
• Accounts Payable and Receivable: Handle accounts receivable for your assigned portfolio, including tenant billing and rent collection. For accounts payable, respond to vendor and property manager inquiries and process payment of approved invoices. Review coded invoices for accuracy and adherence to budgetary constraints, and approve or release payment once vendor bills have been entered into the system.
• Compliance and Regulation: Stay informed about accounting standards, industry regulations, and changes in tax laws affecting commercial property management. Ensure compliance with GAAP and other relevant accounting principles. Support tax return preparation for properties in your portfolio by providing accurate financial information to Waypoint's third-party CPA firm and tracking that returns are completed by the applicable deadline.
• Financial Analysis: Conduct financial analysis on property investments, assessing profitability and identifying areas for improvement. Collaborate with stakeholders to provide financial insights and support strategic decision-making. Prepare monthly owner distributions according to budget, cashflow projections, capital needs, and owner direction.

Requirements

• Minimum 1 to 3 years of accounting experience
• Familiarity with lease agreements and commercial property financials, or a strong willingness to learn
• Proficient in Microsoft Excel
• Excellent analytical and problem-solving skills
• Effective communication and collaboration skills
• Ability to manage multiple deadlines across a portfolio of properties

Qualifications

• Degree in Accounting, Finance, or a related field preferred; an equivalent combination of education and experience will also be considered
• Property management or real estate accounting experience
• Experience with property management accounting software (e.g., Rent Manager)
• Experience working closely with internal and external groups such as property managers, tenants, and ownership groups

Pay

The salary range for this role is $55,000-$80,000, commensurate with experience.

Schedule

This position is eligible for some flexible location work but is based and has duties in office in Fort Collins, CO.