Property Accountant - Multifamily (Remote: DC,MD, VA) at Washington Real Estate Investment Trust in Washington, Washington DC

Job Description:

WashREIT is a publicly traded company transitioning from a diversified REIT into a pure multifamily REIT and expanding from the DC metropolitan area into Southeastern markets.   We’re growing for sure!

To support this transition, we have created a new position for a  Property Accountant responsible for full cycle accounting and reporting for a portfolio or properties.

You are a good fit if you have had progressively more responsible roles in public or multifamily accounting, have a strong foundational knowledge of accounting and an interest in building out processes. Previous experience with Yardi is a huge plus, because we are in the midst of an implementation.

This role is fully remote but is required to reside in DC/MD/VA and visit the office on occasion for training and/or meetings.

PRIMARY RESPONSIBILITIES

Property Accounting
Responsible for assisting with the onboarding of eight to twelve multifamily properties into Yardi, and transitioning to the full close cycle accounting for these properties.

• Prepare timely, complete, and accurate monthly financial reports under US GAAP.


• Calculating and posting associated accruals, prepaid expenses, reconciliations, and property forecast to actual variance analysis.


• Testing processes and data validation of new ERP systems (Yardi).


• Creating journal entries for recurring and ad hoc expenses, accruals, and reclasses.


• Calculating and maintaining monthly management fee and other calculations relevant to portfolio of assets.


• Responsible for preparation of monthly consolidated roll-forwards, reconciliation of sub ledgers to the general ledger, and actual-to-budget analysis.


• Supporting the external audit and working with the external auditors on client requests and preparing footnote support.

Fixed Asset Accounting
Responsible for assisting with the maintenance and review of fixed assets and development projects.

• Creating journal entries to reclass costs between all project manager jobs.


• Creating manual invoices and submitting corresponding journal entries for all project management jobs.


• Creating fixed assets to close out all project management jobs and submit corresponding journal entry.


• Recording depreciation and write-offs of fully depreciated assets.


• Performing monthly analysis over depreciation activity.


• Reviewing and submitting quarterly accruals for the project management team


• Maintaining accurate job cost and project accounting records for development projects, including quarterly accruals for open costs


• Calculating and preparing journal entries for capitalized interest related to active development projects


• Placing development assets into service by phases with appropriate cost allocation.

REQUIREMENTS

• Bachelor’s degree in Accounting or Finance, (CPA designation a plus)


• Progressively more responsible experience performing accounting functions, real estate accounting a huge plus.


• Understanding of Sarbanes Oxley and US GAAP reporting requirements


• Thoughtful problem solver with the ability to identify issues and recommend solutions.


• Advanced proficiency with Microsoft Office, including Word and Excel


• Yardi experience a strong plus.


• Excellent communication, reading comprehensive and analytical skills.


• Strong customer service orientation and ability to champion through daily interactions. 


• Champions commitment to Diversity, Equity, Inclusion & Belonging initiatives.

WHO IS WashREIT?

WashREIT, publicly traded on the NYSE under the symbol WRE, owns approximately 8,900 residential apartment homes in the Washington, DC metro and the Southeast. WashREIT also owns and operates approximately 300,000 square feet of commercial space in the Washington, DC metro region. We are focused on providing quality housing to under-served, middle-income renters in submarkets poised for strong, sustained demand. With a proven track record in residential repositioning, we are utilizing the experience and research from the Washington, DC metro region to continue to grow as we geographically diversify into Southeastern markets. We are targeting the deepest demand segments in submarkets with the greatest probability of rent growth outperformance and tailoring our specific investment strategy to best create value.

WHY WORK AT WashREIT?

• 
  We’re team players! We value our open culture working in a collaborative environment that values interdisciplinary teamwork, creative ideas and uncommon solutions.


• 
  We practice corporate responsibility! Our focus on sustainability creates positive environmental, social, and ethical impacts in the regions where our residents live.


• 
  We are creative, committed, and ambitious! Our flat organizational structure facilitates frequent, meaningful interactions with company executives, and our commitment to teamwork and entrepreneurial spirit enables employees at every level to conceptualize ideas and make them happen.


• 
  We provide outstanding compensation and benefits! You will be paid well for your work, with a competitive wage and will be eligible for incentive compensation based on your efforts and company performance.  Our flex vacation policy gives you the flexibility to take the time off when you need it and our hybrid work schedule respects your work/life balance.


• 
  We are an equal opportunity employer and are committed to diversity, equity, inclusion, and belonging! We believe diversity drives innovation. Companies that are diverse are proven to be better companies. We are building a culture where differences are valued and creating an environment for people to do what they do best while learning, growing, and affecting company change through meaningful contributions.
  
  

COVID-19 COMPLIANCE
As a condition of employment, all new hires must be fully vaccinated by their start date, and have obtained a booster shot no later than their eligibility or thirty days from hire (if eligible).

Equal Opportunity Employer/Protected Veterans/Individuals with Disabilities
The contractor will not discharge or in any other manner discriminate against employees or applicants because they have inquired about, discussed, or disclosed their own pay or the pay of another employee or applicant. However, employees who have access to the compensation information of other employees or applicants as a part of their essential job functions cannot disclose the pay of other employees or applicants to individuals who do not otherwise have access to compensation information, unless the disclosure is (a) in response to a formal complaint or charge, (b) in furtherance of an investigation, proceeding, hearing, or action, including an investigation conducted by the employer, or (c) consistent with the contractor’s legal duty to furnish information. 41 CFR 60-1.35(c)

Accounting

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