Cobalt Recruitment
Property Accountant
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Property Accountant
Our client, a growing real estate business is bringing property accounting activities in-house following significant portfolio growth. The Property Accountant will be responsible for monthly, quarterly and statutory reporting for a portfolio of European properties and associated SPVs. The role involves financial reporting, budgeting, forecasting, tenant accounting, tax coordination and business partnering with operational teams.
Key Responsibilities
- Manage month-end and quarter-end close processes for a portfolio of single and multi-tenant properties, including accruals, allocations, reclassifications and accounting adjustments.
- Review profit and loss statements, investigate variances against budget and prior periods, and prepare reporting packs for internal stakeholders.
- Support and review bank reconciliations, ensuring outstanding items are resolved promptly.
- Prepare balance sheet reconciliations and maintain supporting documentation for key control accounts.
- Ensure the accurate accounting of debt facilities, interest accruals and related financing costs.
- Partner with property managers regarding leasing activity, service charge recoveries, collections and accounting treatments.
- Review and approve accounts payable coding, ensuring correct treatment of recoverable costs, capital expenditure and maintenance expenditure.
- Process rental income and service charge transactions whilst liaising with internal and external stakeholders.
- Work alongside lease administration teams to investigate and resolve billing and collection issues.
- Assist in the preparation and review of bad debt provisions where required.
- Support service charge reconciliations and tenant recoveries processes.
- Produce leasing and occupancy reports to support budgeting and forecasting activities.
- Prepare annual budgets and quarterly reforecasts.
- Support senior finance stakeholders with financial analysis, reporting and technical accounting matters.
- Assist with fair value adjustments, impairment reviews and other accounting assessments as required.
- Review and interpret leases, purchase agreements, management agreements and other legal documentation.
- Liaise with external advisers regarding VAT, corporation tax and other statutory filings.
- Coordinate the preparation and review of annual financial statements for SPVs and property entities.
- Support acquisitions and disposals, including purchase price allocation exercises, accounting integration and operational onboarding.
- Prepare audit working papers and respond to auditor queries.
- Act as a key point of contact for property accounting and systems-related queries.
- Work closely with finance, legal, tax, treasury, operations and leasing teams to resolve accounting matters.
- Participate in finance system improvements, testing and implementation projects.
- Identify opportunities to automate and improve financial processes and controls.
- Undertake additional projects and responsibilities as required.
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Candidate Profile
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- Fluency in English is essential.
- Additional European language skills (German, French, Spanish or Italian) are highly desirable.
- Previous experience using Yardi Voyager or a similar property accounting system.
- Strong analytical, technical and problem-solving skills.
- Excellent communication and stakeholder management abilities.
- High attention to detail with strong organisational skills.
- Ability to work independently and manage competing priorities.
Qualifications & Experience
- Degree educated or equivalent.
- Professional accounting qualification (ACA, ACCA, CIMA or equivalent) preferred.
- At least five years' accounting experience.
- Previous real estate, property or asset management experience is preferred.
- Knowledge of US GAAP or IFRS would be advantageous.
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