Property Accountant

Property Accountant

Company Overview: Ocean State Job Lot ("OSJL" or the "Company") is a dynamic $850+ million general merchandise retailer with a strong foothold across the Northeast and Mid-Atlantic. With over 170 stores currently and ambitious plans to reach 180 locations, OSJL offers exciting opportunities for growth and contribution. We are an opportunity-driven retailer owning over 50% of our operating locations, totaling 8 million square feet, demonstrating our stability and long-term vision. At OSJL, you will be part of a team committed to delivering exceptional value to our customers while driving positive change and a more responsible future for retail within our communities.

Job Summary: The Property Accountant role at Ocean State Job Lot ("OSJL" and "Company") serves as a vital financial liaison between the Company's tenants and its property management and accounting departments. Operating within the Finance Department, this role maintains tenant ledgers, manages Accounts Receivable (A/R), bills utility pass-throughs, and executes annual Common Area Maintenance (CAM) reconciliations. The ideal candidate for this role balances meticulous accounting standards and lease analysis proficiencies with strong interpersonal skills to resolve billing disputes, explain complex financial charges, and ensure accurate cash flow.

Key Responsibilities:

• Tenant Relations & Lifecycle Management
• Own all tenant-facing financial communications.
• Serve as the primary point of contact for billing inquiries and payment portal support.
• In partnership with the Lease Administration team, facilitate end-to-end tenant onboarding and offboarding, from running orientations and issuing welcome packets to completing move-in/move-out financial reconciliations.
• Monitor tenant retention metrics and proactively flag at-risk tenants for the Property Management and the Leasing team.
• Accounts Receivable & Collections
• Maintain precise tenant financial ledgers by timely and accurately posting payments, late fees, and ledger adjustments.
• Manage the end-to-end rent collections lifecycle by monitoring weekly aged A/R reports, pursuing past-due rent, and negotiating executive-approved payment plans with tenants.
• Partner with the Legal department, Property Managers and Lease Administration to escalate rent defaults, issue payment demands and default notices, and enforce non-compliance or self-help clauses.
• Assist senior accounting staff with month-end close by preparing A/R aging summaries and delinquency reports.
• CAM, Utilities, & Expense Allocations
• Review commercial lease agreements to determine tenant pro-rata shares and identify allowable expenses and expense caps, as applicable.
• Prepare annual CAM, real estate tax, and insurance reconciliations that compare budgeted estimates against actual expenses.
• Calculate and issue monthly estimated CAM and operating expense budget adjustments to tenants.
• Utilize submeter readings, square footage allocations, or Ratio Utility Billing System ("RUBS") to process monthly utility billings.
• Audit master utility invoices against tenant charges to maximize cost recovery and flag usage spikes.
• Explain complex utility, CAM, and rent charges and review supporting CAM expense documentation with tenants.
• Assist departments with budget tracking, cost reconciliation, and capital expenditure reporting.
• Compliance Tracking & Reporting
• Maintain detailed records of account discrepancies, field management escalations, and dispute resolutions to enforce lease terms and legal defensibility.
• Drive portfolio-wide tenant compliance scorecards and prepare monthly utility variance schedules.

Qualifications:

• A Bachelor's degree in Accounting, Finance or related field is required.
• 3 or more years of experience in property management finance, property accounting, or commercial A/R is preferred.
• Proven experience with CAM/Tax/Insurance reconciliations, lease abstracting, and utility rebilling methodologies is preferred.
• Proficiency in property management accounting software (e.g., Unifier, CoStar, Oracle) and intermediate/advanced MS Excel skills (Pivot Tables, VLOOKUPs/XLOOKUPS) is required.
• Strong understanding of general ledger accounts, debits/credits, accruals, and cash-basis vs. accrual accounting is required.
• Familiarity with commercial lease structures (Triple Net / NNN, Base Year, Gross Leases) is preferred.
• Knowledge of state/local landlord-tenant laws and utility billing regulations is preferred.

Work Environment: Works primarily in a climate controlled environment with minimal safety and health hazard potential. Works in an office environment remaining stationary at a desk, table, or computer workstation for extended periods of time. Frequently uses near vision for reading and computer tasks. Hybrid work option: Some work may be completed outside of the Company locations, with at least three (3) days a week in the Corporate Office. The role is responsible for setting up a professional and ergonomically safe work environment and to be available during working hours. Hybrid work options are not guaranteed and are subject to change at any time based upon Company policy, associate performance and business needs. Reasonable accommodations may be made to enable individuals with disabilities to perform essential functions.

OSJL Featured Total Rewards & Perks: Competitive Paid Time Off (PTO) Comprehensive Health Coverage: Including but not limited to Medical, Dental, Vision, and much more. 401K Program Flexible Spending Account (FSA) Tuition Reimbursement Associate Store 30% Discounts Enjoy complimentary access to OSJL-owned vacation properties, along with discounted gym memberships and 30% off at OSJL affiliated restaurants. Free lunch Fridays This job description does not list all the duties of the job. You may be asked by supervisors or managers to perform other job duties and tasks, some of which may be essential to the position. Leadership has the right to revise this job description at any time. The job description is not a contract, either express or implied. You are an at-will employee, meaning either you or the Company may terminate your employment at any time, with or without notice. The annual salary range for this position is $65,000 - $75,000. Salary commensurates with years of experience.