Property Management Accountant

At Bellrock, we harness technology to give our customers an experience that not only leaves them with advanced building systems. But with peace of mind. And we unlock that by being technology-led, but people-driven. So when you’re part of Bellrock, you’ll get everything you need to be your best at work - because our people are the heart of our business. And we’re all about helping them to shine. The role will sit within Bellrock Real Estate and report to the Head of Property Management

The primary function of the Property Management financial role is to control the finances of client monies held (on behalf of Investors) in order to support the Property Manager manage the property portfolio.

The Property Management/Client Accountant has the ultimate responsibility for all cash held within their client's portfolio, including rents and any service charge, sinking fund, deposits, VAT return etc.

The role is a new role to both property management and Bellrock and will require someone who is able to work autonomously and on their own initiative, and to assist in the development and implementation of ‘best practice’ processes and procedures.

The Property Management/Client Accountant will support the Property Manager in delivering an effective, independent, customer focussed property management service, to the Client (Landlords and Tenants). They will be expected to take full accountability for delivery of the property management accounting functions, including:

How will you be the change?

We believe every role is essential to providing that peace of mind for our customers - whatever part of the business you’re in. Because every role plays a part in driving us further. And everyone can be the change. That’s how deliver value for our customers, and building systems that lead the way

And as a Property Management Accountant with Bellrock Real Estate, you’ll do it by…

• Charge Raising & Rents Collection
• Raising of all lease and associated ad-hoc charges
• To ensure all billings for rent, insurance, service charge and associated charges are raised in line with KPI’s and lease dates.
• Generate any miscellaneous charges/adjustments arising due to changes of tenancies (i.e. lease expiry, break notice, rent review etc.) upon the instruction of the Property Manager, to ensure that Tramps is always up to date and correct.
• Billing of periodic ground rent, service charges, insurance and other charges to lessees or occupiers
• Billing of directly recoverable ad-hoc charges to lessees or occupiers i.e. electricity
•  Credit Control
• Provision of credit control function 
• To take overall responsibility for chasing of arrears as instructed by Property Manager
• Working with the property manager to ensure that all tenant queries are resolved promptly, and arrears are mitigated and collected.
• Service Charge Expenditure Management
• Day to Day Budget Management and payment of suppliers
• Maintaining the purchase ledger in the accounting records including receiving, coding, processing and payment of all properly authorised invoices, expense forms and requests for payment
• Preparing and Setting up BACS runs from the relevant bank accounts to pay suppliers Manage and maintain the Service Charge funds of each property under the remit.
• Liaison with the Property Manager to ensure that cash flow/funding for each property service charge is adequate.
• Responsible for the analytical review of income and expenditure.  
• Service Charge Reconciliations
• Liaising with clients and auditors in respect of the preparation and presentation of year end accounts.
• To complete the service charge year end process within 3 months of year end to include:
• Audit of expenditure and income o Liaison with external auditors as required.
• Cash reconciliation ensuring that all adjustments are actioned correctly.
• Close year on the system to include raising of balancing charges or credits as required.
• Reconciliation of any other ledger balances e.g. recoverable expenditure to ensure that all outstanding costs are recovered.
• Client Accounting
• To report financial data to the clients as requested
• Periodic reporting to clients (standard reports plus additional as required)
• Ensure accurate reconciliation of client reports i.e VAT, client statements etc Client Monies – Accountability, Allocation and Reconciliation
• To initiate, document and record payment of rental monies to the client
• To review the bank reconciliation and ensure that any reconciling items are actioned correctly.
•  To ensure that any VAT due from or to the client is accounted for and paid to or recovered from the client in a timely manner.
• To document, record and allocate tenant deposit monies within the appropriate deposit account in line with RICS regulations and guidance.

What does it take?

If you’re ready to be the energy that helps us build our business, share our success, and really own it as a Property Management Accountant, you’ll need…

• Accounting Knowledge: A strong foundation in accounting principles is essential. This includes understanding GAAP (Generally Accepted Accounting Principles) and familiarity with real estate accounting practices such as CAM (Common Area Maintenance) reconciliation.
• Financial Analysis: Ability to analyse financial data related to property operations, including revenue, expenses, and capital expenditures. This involves creating financial reports, budgets, and forecasts.
• Real Estate Industry Knowledge: Understanding of real estate terminology, regulations, and market trends. Knowledge of property management software and platforms commonly used in the industry (e.g., Yardi, MRI, or AppFolio) is advantageous.
• Budgeting and Forecasting: Proficiency in developing and managing property budgets, as well as forecasting financial performance based on historical data and market trends.
• Tax Compliance: Knowledge of tax regulations related to real estate, including property taxes, income taxes, and sales taxes. Collaborating with tax professionals to ensure compliance and optimize tax strategies.
• Communication Skills: Effective communication is crucial for collaborating with property managers, tenants, vendors, and other stakeholders. This includes verbal communication as well as written communication for preparing reports, memos, and correspondence.
• Problem-Solving Abilities: Being able to identify issues related to property financials or operations and
• propose practical solutions. This might involve resolving discrepancies in financial records, optimizing revenue streams, or mitigating risks.
• While a degree in accounting, finance, or real estate is often preferred, relevant experience in property management accounting can sometimes compensate for formal education.