Great people make great properties.
The Recoveries Accountant manages and oversees the reimbursement of all recoverable expenses (CAM, utilities and property taxes) for a portfolio of properties. The accountant is responsible for complete, accurate, and timely billings of tenants impounds and annual/periodic adjustment billings.
Essential Job Functions:
• Determine annual rent roll impounds for reimbursement of recoverable expenses and make adjustments during the year as necessary.
• Calculate and oversee annual/periodic tenant billings (adjustment billings) for reimbursement of recoverable expenses in accordance with lease agreements or other contracts.
• Prepare annual recoveries budgets and quarterly recoveries projections.
• Review financial data and lease or other contractual terms affecting the calculation of the reimbursement of recoverable expenses.
• Ensure overall tenant/customer compliance with reimbursement of recoverable expense per applicable terms in lease agreements or other contracts.
• Calculate the recovery rates for Property Accountants.
• Handle all tenant inquiries and disputes of billings for reimbursement of recoverable expenses.
• Act as liaison for Accounts Receivable Associates with difficult billing and accounts receivable issues regarding reimbursement of recoverable expenses.
• Assist Property Managers with all questions and issues related to reimbursement of recoverable expenses.
• Provide support and ad hoc reports to other disciplines such as Leasing, Legal, Operations, and Development Accountants on various matters. (e.g. lease interpretation, review proposed CAM lease language, training, guidance on business decisions involving CAM, CAM depreciation)
• Other duties as assigned.
Requirements and Qualifications:
• Bachelor’s degree with a preference for Accounting or Business degree.
• Accounting or financial experience in real estate preferred.
• Basic understanding of accounting principles and accrual accounting.
• Minimum 2 years’ experience in accounting position.
• Ability to comprehend, interpret and apply complex financial lease provisions.
• All applicants must be able to perform the essential functions of the position, including corresponding core job requirements, with or without a reasonable accommodation. Reasonable accommodations may be made to enable individuals with disabilities (and others in accordance with applicable law) to perform the essential functions of the job, consistent with applicable laws and Company policy.