Accounts Manager-Real Estate Industry

2 weeks ago

Ras alKhaimah, Ra’s al Khaymah, United Arab Emirates Tawtid Full time

Description

Accounts Manager is responsible for overseeing the financial health of the organization through effective management of accounting operations. This role involves preparing financial statements, ensuring regulatory compliance, managing budgeting and forecasting, and supervising the accounting team. The ideal candidate should have strong analytical skills, attention to detail, and experience in managing financial operations within the organization.

Requirements

Key Responsibilities:

  1. Property Financial Management:
    1. Oversee financial operations for property portfolios, including rental income, property sales, maintenance expenses, and property taxes.
    2. Manage rent collection, lease payments, and tenant receivables, ensuring timely follow-up on outstanding amounts.
    3. Work with the property management team to track and report expenses related to property maintenance, renovations, and upgrades.
  2. Financial Reporting & Analysis:
    1. Prepare monthly, quarterly, and annual financial statements, including property performance reports, income statements, and balance sheets.
    2. Analyze financial data and provide insights into property profitability, cash flow, and occupancy rates.
    3. Conduct variance analysis for revenue and expenses, providing explanations for deviations from the budget.
  3. Budgeting & Forecasting:
    1. Lead the budgeting process, coordinating with leasing, property management, and sales teams to develop accurate budgets.
    2. Prepare cash flow forecasts to support the planning of property acquisitions, developments, or improvements.
    3. Monitor and report budget performance, advising management on potential risks and opportunities.
  4. Accounts Payable & Receivable:
    1. Oversee accounts payable processes for vendor payments related to property maintenance, utilities, and other operational expenses.
    2. Manage accounts receivable, ensuring prompt rent collection, and coordinate with property management to address tenant payment issues.
    3. Ensure accurate records of tenant deposits, refunds, and move-out reconciliation.
  5. Property Tax & Compliance:
    1. Ensure compliance with local, state, and federal tax regulations related to property ownership, sales, and rental income.
    2. Oversee property tax filings, working with external advisors as necessary.
    3. Maintain accurate documentation and records for audits and regulatory reviews.
  6. Lease and Sales Transactions:
    1. Manage the accounting processes for property sales, including revenue recognition, cost allocation, and transaction closing.
    2. Track lease agreements, including renewals, escalations, and termination accounting.
    3. Coordinate with legal and leasing teams to ensure accurate financial records for new leases, amendments, and terminations.
  7. Team Leadership & Development:
    1. Lead the accounting team, providing training, guidance, and support in real estate-specific accounting practices.
    2. Conduct regular performance reviews and set clear objectives for team members.
    3. Foster a collaborative environment that promotes best practices and continuous improvement.
  8. ERP & System Optimization:
    1. Implement and maintain ERP systems suited to real estate operations, such as Odoo or Yardi, ensuring data accuracy and system efficiency.
    2. Identify and recommend improvements to streamline accounting processes, reporting, and internal controls.
    3. Ensure the integrity of data related to property listings, tenant payments, and property expenses.
  9. Strategic Financial Advisory:
    1. Act as a financial advisor to management on key real estate investment decisions, providing insights into profitability, ROI, and cash flow.
    2. Assist in evaluating property acquisitions and sales by providing financial analysis and due diligence support.
    3. Collaborate with the leasing, sales, and property management teams to support financial planning and business growth strategies.

Qualifications and Skills:

  1. Education: Bachelor's degree in Accounting, Finance, or related field; CPA, CMA, or similar certification preferred.
  2. Experience: 5+ years in accounting, with at least 2 years in a real estate or property management company.
  3. Skills:
    1. Strong knowledge of real estate accounting, including rent roll management, CAM (Common Area Maintenance) reconciliation, and tenant ledger management.
    2. Proficiency in accounting software and real estate ERP systems (e.g., Yardi, Odoo, or equivalent).
    3. Excellent analytical, organizational, and problem-solving skills with attention to detail.
    4. Effective leadership and communication skills for managing an accounting team and collaborating with other departments.
    5. Ability to navigate complex financial regulations and ensure compliance with real estate industry standards.

Benefits

Salary: 10,000 - 12,000

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