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