Controller (Real Estate - Multi-Family Properties)

Job Description

Job Description

Job Title: Property Controller

Position Summary:

Responsible for leading the accounting team made up of an Accounting Manager, Accounts Payable and Accounts payable, along with an overseas team of property accountants. The role requires hands on over-site and analysis of financials for a portfolio of 26 residential apartment properties under our third-party management and daily interaction and proactive communication with our clients. Our portfolio is growing year over year. We are currently projected to have approximately 30 properties by year-end.

A successful candidate will be comfortable in their expert knowledge and practiced fundamentals of accounting. We are seeking a candidate who is comfortable in an entrepreneurial, growth-oriented organization and is comfortable working in a fast-paced environment that is focused on a high level of production and efficiency. We are seeking a candidate who has vast experience utilizing Yardi Voyager property management software.

Responsibilities:

• Identify process improvement opportunities and implement standardized accounting procedures that improve efficiency and strengthen internal controls

• Oversee monthly balance sheet reconciliations and resolve reconciling items (Prepaid Expenses, Accrued Expenses, Security Deposit Liability, etc.)

• Assist with special projects, including process improvements and owner requests, as assigned

• Oversee monthly Bank Reconciliations

• Prepare and oversee monthly owner reporting packages

• Perform budget variance analysis

• Perform monthly, quarterly and year-end financial closings

• Review GLs for proper GL classification of invoices. Reclass and accrue expenses as necessary

• Prepare month-end reclasses, prepaid reclasses and accrual journal entries

• Deliver accurate and timely monthly financial packages – many are due by the 15th to 25th of each month for the prior financial month period

• Review GPR, Rent Rolls and AR

• Work in coordination with the Accounting Manager, overseas Property Accountants, clients, client’s Controllers and client’s Asset Managers, Property Managers and Regional Property Managers

• Oversee weekly AP checks for all properties within the portfolio

• Prepare monthly cash forecasts for owner distributions

• Ensure that monthly mortgage payments, quarterly property taxes and property insurance payments are being paid on time and recorded appropriately

• Reconcile and collect the monthly management fees, driven by the greater of a percentage of revenue, or a minimum monthly fee

• Work in collaboration with client level asset managers and their CPA's for annual tax filing preparations

• Be a liaison between AP system, Property Managers and vendors for accounts payable / cash-flow issues

• Assist in the preparation of property reforecasts and annual budgets as needed

• Prepare files and journal entries related to real estate transactions (e.g. acquisitions)

• Onboard and setup new property accounts

Required Knowledge, Skills, and Abilities:

This position requires a dynamic accounting professional who can work independently and as a team player, prioritize tasks, is highly organized, detailed oriented and comfortable handling shifting priorities. A successful candidate will demonstrate the ability to meet financial related deadlines and communicate orally and in writing concisely and effectively while delivering quality work in a fast-paced environment.

• A bachelor’s degree in accounting is preferred

• A minimum of 8+ years of general accounting or audit experience required with property accounting experience

• Real Estate experience is required

• Yardi software experience is required

• Must demonstrate initiative and ability to take on projects that benefit the accounting department and our clients

• Must be organized, concise, detailed, flexible, and efficient

• Must possess strong interpersonal skills and an ability to work and communicate effectively with all levels of operations

• Must possess the ability to take initiative to resolve problems and offer solutions in a professional manner

• Must be a team player, able to work outside the core business hours when needed and willing to accept a variety of tasks associated with this position

• Proficiency in Microsoft Office Suite (Excel, Word, Outlook) is required

• Efficient responsiveness is required. You will need to perform responsibilities with an acute sense of urgency to meet the needs of others; respond quickly to solve problems and be willing to accept a variety of tasks associated with this position

• Integrity - Demonstrate sound business ethics, maintain fiduciary responsible with a high level of trust and high moral standards, consistently comply with organizational values and protect all confidential information

• Communication - Ability to clearly express ideas; present verbal and written information in a straightforward manner, ask questions intended to open channels of communication; listen to understand the perspective of others

• Ability to prioritize competing deadlines of multiple properties in a fast-paced environment

Job Type: Full-time

Benefits:

• 401(k)

• Dental insurance

• Health insurance

• Life insurance

• Paid time off

• Vision insurance

Schedule:

• Monday to Friday

Application Question(s):

• How many years of real estate accounting experience do you have?

• How many years of Yardi experience do you have?

Experience:

• GAAP: 8 years (Required)

Work Location: West Orange, NJ

Sparrow Management was founded in 2020 to provide quality property management and consulting services to real estate owners and developers, with tailored options specifically designed to meet the needs of smaller and mid-sized companies. We currently have approximately 2,600 units under third party management and are adding additional properties to our portfolio each year. Visit sparrowmanagement.com for more information!

Company Description

Sparrow Management was founded in 2020 to provide quality property management and consulting services to real estate owners and developers, with tailored options specifically designed to meet the needs of smaller and mid-sized companies. We currently have approximately 2,600 units under third party management and are adding additional properties to our portfolio each year. Visit sparrowmanagement.com for more information!