Property Financial Manager

Property Financial Manager

Employment Type: Full-time

About Stream Realty Partners

Founded in 1996, Stream Realty Partners (Stream) began with a vision. Not one focused on bricks and mortar, but with people at its foundation. Headquartered in Dallas, TX and operating in core markets coast to coast, we complete billions in annual transactions in office, industrial, retail, healthcare, land, and data center properties. With millions of square feet of assignments, Stream is one of the fastest-growing, full-service commercial real estate services organizations in the country. Our team of talented individuals have come together to create our distinct culture, best summarized by our firm's core values: smart, honest, nice, and passionate. For more information, visit www.streamrealty.com and follow Stream on LinkedIn, Instagram, X and Facebook.

Position Overview

The Financial Manager position provides support to the Property Management team and acts as a liaison between Corporate Accounting and local Property Management teams. Day-to-day activities include monitoring the financial performance of the assets, budgeting, forecasting, and reporting. Depending upon the portfolio needs, this position may have supervisory responsibility.

Primary Responsibilities

• Review and approve monthly accruals, AR reviews, CAPEX Distributions, AR batches, monthly rent-ups, and commercial billings.
• Review and approve lease abstracts/profiles and enter OPEX recovery set ups in accounting system-Lease Administration
• Review and finalize monthly variance reports and rent roll reconciliation.
• Review GL for consistency and accuracy and submit reclass entries.
• Review and reconcile tenant security deposit ledgers.
• Address CAM reconciliation inquiries from tenants
• Oversee process for tenant audits.
• Complete annual budgets, reforecasts and OPE reconciliations.
• Address client questions concerning budgets, financials, CAM recoveries and provide custom reports as per client requests.
• Prepare complex tenant account ledger reconciliations to assist the property management team in collection efforts.
• Provide back-up support to Property Manager for invoice approvals.
• Coordinate and assist Accountants in final settlements with Seller/Buyer in property transitions.
• Research and handle accounting related issues/questions from internal Accountants as well as Clients
• Follow and ensure team SOC I compliance for applicable assets.
• Provide accounting software related mentoring, training, and support to the Property Management team.
• Assist with special projects for the assigned portfolio.

Key Competencies

Financial Management

• Good understanding of clients' financial reporting process including accruals, general ledger reviews, leasing reports, executive summary reports, and variance reports.
• Ability to complete all aspects of clients required financial reporting.
• Understanding of variances effect on property cash flow and tenant estimated billings.
• Advanced accounting skills and knowledge.

Insurance

• Ability to determine if vendor insurance certificate meets client requirements. Track and maintain current COI for all vendors utilized at property.
• Understand insurance requirements per tenant lease and review certificate to ensure tenant insurance is in compliance with lease. Track and maintain current COI for all tenants within assigned portfolio.

Lease Knowledge

• Understands lease types (NNN, Base Year/Expense Stop, Commencement Date, Rent Start Date, etc.).
• Review basic lease information to agree to system lease report (dates, amounts, etc.).
• Review leases thoroughly for TI and landlord (LL) capital requirements, Caps/Gross Ups, options, lease termination fee options/calculation information, etc.
• Advanced knowledge of commercial lease recovery language.

Systems Proficiency

• Read training materials, attend training. Become proficient in systems (MRI/Yardi, AVID, Kardin, IMPAK, RMIS, etc.) utilized to perform job functions effectively.
• Adaptability to working in various databases and accounting software programs.

Transitions

• Some exposure to property transitions (sales, purchases, management change) with supervision and guidance.

Accounts Receivable & Payable

• Effectively manage AR within portfolio; process tenant billbacks, submit late letters, default notices and complete lockouts. Work with tenants to collect outstanding balances.
• Ensure all vendors are paid in a timely manner.

Organization & Problem Solving

• Utilize calendar, trackers, checklists, etc. to ensure that all tasks are completed in a timely manner to meet all internal and external deadlines. Stay ahead of deadlines to avoid missing deadlines.
• If and when deadlines are missed, communicate, and establish a new game plan with the supervisor, and with the accounting team, if applicable.
• Complex items handled with limited supervisor assistance. Independently research issues and find solutions. Support teammates through discussion to identify and find a resolution before proceeding.
• Proactive and self-motivated; does not need to be assisted and/or directed to complete responsibilities.

Communication & Leadership

• Communicate deadlines, expectations, issues, etc. in a timely and effective manner. Seek assistance from supervisor when prudent.
• Mentoring capability.
• Problem-solving: helps solve problems, finds efficiencies, shares knowledge, and actively seeks opportunities to help.
• Deadline, solutions-oriented, and proactive thinking driven.

Compliance

• Follow and ensure SOC compliance when reviewing and/or preparing all transactions.

Qualifications

• Bachelor's Degree preferred.
• 3-years' work experience in similar field and/or job role.
• Prior industry property management experience with significant financial responsibility
• Strong technical skills including proficiency with Yardi and/or MRI experience.
• Desire and ambition to learn and grow in Stream's property management department.
• Financial and analytical mindset with attention to detail
• Proficient with Microsoft Office (Outlook, Excel, and Word)
• Advanced accounting skills and knowledge
• Strong organization and communication skills
• Advanced knowledge of commercial lease recovery language
• Adaptability to working in various databases and accounting software programs.
• Basic Real Estate Terminology: A general understanding of frequently used terms within the real estate industry.
• Real Estate Comprehension: An in-depth understanding of real estate concepts/terminology and can apply them properly to all projects in their portfolio.

Benefits

Stream Realty Partners offers competitive salaries, bonuses, medical/dental/vision insurance, pharmacy benefits, health savings account, flexible spending accounts, 401(k) plan with company matching, PTO, and holiday pay. Individual compensation packages are based on various factors unique to each candidate, including skill set, experience, qualifications, location, and other job-related reasons.

Equal Opportunity

Stream is an equal-opportunity employer and does not discriminate on the basis of ethnicity, race, religion, sexual orientation, gender identity, age, national origin, disability, military status, or any other reason prohibited by law.

Job Location: Onsite

To apply for a position, please visit our website at www.streamrealty.com