Property Accountant - Toronto

Property Accountant

The Role

With a controllership mindset, the Property Accountant will oversee the financial reporting requirements for a portfolio of real estate assets comprising both residential and commercial properties.

The successful candidate will bring strong financial acumen and a solid accounting background, ideally with a BBA degree specializing in Accounting. This individual will be able to record and interpret leases while applying GAAP and IFRS principles to ensure appropriate accounting treatment is consistently reflected in their day-to-day responsibilities.

The role requires the ability to collaborate effectively with various levels of management and to communicate complex accounting concepts in a clear and practical manner to non-accounting professionals. This individual will thrive in a fast-paced, collaborative environment and will have the opportunity to contribute to the continued growth of the company’s property management portfolio and help shape its future.

This is an exciting opportunity to join a growing organization backed by private equity partner Woodbourne Canada Management Inc., where the successful candidate will play an important role in supporting the financial integrity and growth of the business.

Come Join Rhapsody

At Rhapsody, we’ve built our company culture around our core values of Respect, Integrity, Dedication and Transparency. Every team member plays a vital role at Rhapsody, so we provide them with the training, support and tools needed for success. Rhapsody offers exceptional career paths and joining our team can lead to an exciting and fast-paced career. We are looking for true team-players who want to learn and advance in the industry.

We offer a total compensation and benefits package to help with your needs today and build for your future tomorrow. Rhapsody values diversity and is committed to equal opportunity in employment. At Rhapsody, success is about more than having a healthy bottom line, and we are committed to making Rhapsody an amazing and unique place to work for each member of our team.

Essential job functions:

• Collaborates with Property Managers, Property Directors, Asset Managers, and clients on properties within assigned portfolio to ensure activity is recorded and reports are prepared in agreement with client requirements and the applicable accounting principles.
• Prepare monthly reporting, including reviewing pre-close reports, HST reports, variance reports, and financial packages, ensuring proper reconciliation of financial accounts, data accuracy, and completion of all reporting deadlines.
• Perform daily bank reconciliations; record monthly cash and accrual entries; process credit card payments; prepare monthly trackers; review and process stale-dated cheques; review cleared cheques; and review and approve accounts payable (AP), including PAPs, accounting-type expenses, and capital expenditures, ensuring accuracy.
• Prepare shared facility reconciliations, as well as pre-bills and final billings for commercial tenants for assigned properties in an efficient manner.
• Analyzes property-level activity and financial reports to identify and correct irregularities as well as ensure accurate representation of the property’s operational and financial position.
• Performs (or assists with) the accounting setup of newly acquired properties or final accounting of lost properties, as assigned.
• Ensures the timely payment of all critical payments including, but not limited to, mortgages, property taxes, property insurance, and owner distributions.
• Prepares financial statements for an assigned portfolio in agreement with client requirements and the applicable accounting principles.
• Reviews 3rd party audit findings for accuracy and reasonableness.
• Performs special projects and research as assigned.
• Works with external auditors to provide support and explain inquires as required by Ownership timelines.
• Participates in budgeting and forecasting assigned tasks.
• Manages property cashflows with the ability to provide Ownership recommendations while keeping balances at a minimum.

Education & Experience

• Bachelor’s degree in accounting or other comparable business-related degrees.
• 1+ years’ experience in Property Accounting.
• Minimum of two years in a full cycle accounting role.
• Experience with Yardi Voyager considered an asset.
• Commercial property accounting experience preferred.
• Aptitude to analyze financial data with the ability to recognize trends and identify irregularities.
• A functional understanding of current accounting software and Microsoft Office products.

To be Successful You Will Have:

• Ability to provide professional support for an assigned team and cultivate value, trust, and positive relations among team and individuals.
• Capable of making sound decisions with minimal supervision or direction.
• Proficiency in Excel and other software such as Adobe, Word, PowerPoint, etc.
• An analytical background with a thorough knowledge of accounting principles.
• Ability to exercise independent judgment relative to the timeliness, recognition, and classification of transactions in accordance with GAAP.