About Pier 4 REIT

Pier 4 REIT is a Real Estate Investment Trust focusing on acquisition of multi‐family residential properties. Our foundation is built on over 40 years in the real estate industry with vast experience in ownership, property management, and capital improvements. Inaugurated in 2020, the Trust's portfolio currently spreads across three provinces and six cities. Driven by a passion for real estate, compounded with years of industry experience, Pier 4 REIT's management team is destined to continue to grow and create diversification within their fund.

Position Overview

Reporting to the Senior Manager of Strategic Finance, the Property Accountant role is responsible for accounting functions related to multi-family real estate properties and corporate entities. The Property Accountant will have constant interaction with property managers, vendors, and the REIT's management team. Responsibilities include general ledger accounting, preparing financial statements, reviewing financial statement results, preparing analysis on an individual and/or consolidated portfolio basis, ensuring regulatory compliance and providing accounting support to all aspects of the Company.

Key Responsibilities

• Recognize when to adjust for material items and / or explain material variances
• Analyze and understand all balance sheet accounts and reconcile working papers in a meaningful way
• Prepare and record operating costs and realty tax adjustments monthly through ratios and full recovery reconciliations
• Compile audit files and supporting documentation as required for annual property audits or tenant inquiries / disputes
• Complete year end operating cost adjustments and tenant billings for assigned properties within allotted period according to requirements for asset
• Prepare and post journal entries for all property operations (i.e., revenue, expenses)
• Plan and prepare month-end reporting periods (pre-booking journal entries, accruing revenue for management fees, etc.).
• Review lease summaries for accuracy (i.e., rental rates, move in dates) and proper accrual of tenant revenue not set up in Yardi
• Prepare month-end reporting packages
• Budget re-forecasting and variance analysis
• Help prepare and respond to inquiries for the interim and annual audits
• Monthly generation, posting and review of expense accruals
• Provide ongoing training / assistance for team members as required
• Other duties / projects as assigned
• Work with the full accounting cycle, including daily bank reconciliation, journal entries, general ledger, recovery, accounts payable, accounts receivable, year-end billing processes
• Timely and accurate preparation of monthly account analysis, reconciliations and property files; analysis while investigating the cause of variances and propose trouble-shooting solutions
• Prepare year-end audit package and entity financial statements and liaise with external auditors
• Preparing intercompany reconciliation statements and ensure all accounting records related to all properties are kept up to date in the financial reporting system within guidelines
• Review and analyze financial information and process the information efficiently and take appropriate actions with minimal supervision to address and resolve the matters
• Facilitate monthly cheque runs for vendors
• Liaison with property managers to discuss rent arrears, expenses, new tenants, etc.
• Assist with future migration/automation of financial reporting software

Requirements

• University Degree in Finance or Accounting is mandatory
• Minimum 2 years experience in property accounting, bookkeeping, or with a professional accounting firm
• Strong computer literacy with experience in the use of MS Office programs, project management tools with strong tech skills are a must
• Professional accounting designation (i.e., CPA), or actively enrolled in the CPA program, is mandatory
• Experience with Yardi considered an asset
• Experience and understanding of IFRS considered an asset
• High level of attention to detail and accuracy
• Ability to respond to periodic intensive workloads

• Strong organizational skills and ability to efficiently multi-task and prioritize work

• Demonstrate ability to communicate and interact effectively at all levels of the organization
• Excellent written/verbal communication skills to compose a variety of correspondence and ensure accuracy of material

Considerations

• Schedule: Monday to Friday
• Work location: In office in Toronto, ON (downtown)
• Commute/relocate: Reliably commute or plan to relocate before starting work
• Job type: Full-time, permanent
• Professional experience: Ability to obtain eligible hours for CPA designation and appropriate sign-off from CPA mentor