Property Accountant – CAM Reconciliation

Job Overview

We are seeking a detail-oriented Property Accountant with experience in commercial real estate accounting and CAM (Common Area Maintenance) reconciliation. The role will be responsible for maintaining accurate property-level financial records, preparing annual CAM reconciliations, reviewing tenant recoveries, and ensuring compliance with lease terms and accounting policies.

Duties & Responsibilities

• Prepare and review annual CAM reconciliations for commercial properties.
• Analyze property operating expenses and allocate recoverable costs to tenants based on lease provisions.
• Review tenant leases to determine CAM, property tax, insurance, and other recoverable expenses.
• Calculate tenant share percentages, gross-ups, caps, exclusions, and lease-specific adjustments.
• Reconcile actual property expenses against tenant estimates and identify underpayments or overpayments.
• Prepare tenant reconciliation statements and supporting schedules.
• Coordinate with Property Managers, Lease Administration, Accounts Payable, and Accounts Receivable teams to resolve discrepancies.
• Review general ledger accounts to ensure expenses are correctly classified and allocated.
• Perform monthly bank, balance sheet, and property-level account reconciliations as required.
• Maintain accurate tenant billing and recovery records.
• Assist with tenant inquiries related to CAM charges and reconciliation statements.
• Investigate variances between budgeted and actual operating expenses.
• Support annual budgeting and forecasting of property operating expenses and tenant recoveries.
• Ensure reconciliation calculations comply with lease terms and internal accounting procedures.
• Prepare audit schedules and provide supporting documentation for internal and external audits.
• Maintain organized lease abstracts, invoices, reconciliations, and tenant recovery records.
• Identify process improvements to enhance the accuracy and efficiency of CAM reconciliation.
  
  

Education & Training

• Relevant training or knowledge in accounting, finance, commercial lease accounting, and property accounting is beneficial.
• Practical knowledge of CAM reconciliation, tenant recoveries, and lease interpretation is required.
• Excel training covering Pivot Tables, VLOOKUP/XLOOKUP, SUMIFS, and financial analysis is beneficial.
• Familiarity with property accounting software such as Yardi, MRI, or RealPage is preferred.
• Knowledge of U.S. GAAP and commercial real estate accounting practices is preferred.
  
  

Knowledge, Skills & Experience

• Strong understanding of commercial lease accounting and tenant recoveries.
• Experience with CAM reconciliation, property taxes, insurance recoveries, and operating expense reconciliations.
• Ability to interpret lease clauses and accurately apply recovery provisions.
• Strong knowledge of tenant share percentages, gross-ups, expense caps, exclusions, and lease-specific adjustments.
• Proficiency in Microsoft Excel, including Pivot Tables, VLOOKUP/XLOOKUP, SUMIFS, and basic financial analysis.
• Good understanding of General Ledger, Accounts Payable, and Accounts Receivable processes.
• Ability to reconcile actual expenses against estimates and investigate variances.
• Strong analytical, problem-solving, and numerical accuracy skills.
• Excellent attention to detail and organizational skills.
• Ability to maintain accurate financial records and audit-ready documentation.
• Good written and verbal communication skills.
• Ability to coordinate effectively with Property Management, Lease Administration, AP, and AR teams.
• Familiarity with Yardi, MRI, RealPage, or similar property accounting systems is preferred.
• Knowledge of U.S. GAAP and commercial real estate accounting practices is preferred.
• Experience supporting year-end CAM reconciliations and audit activities is preferred.