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All property accountants need10-key skills, advanced computer and spreadsheet skills, knowledge of federal and state real estate laws, and may require specific experience with a property or asset management software. The job requires a person with the ability to set up escrow accounts and portfolios if working in real estate, create and manage budgets and maintain financial records and transactions with respect to assets.
Accounting and control personnel are regularly involved in either auditing or tax with regard to the business operations of a real estate company. It is their responsibility to maintain records of current financial operations, maintain compliance, and review the viability of new ventures with regard to accounting and tax implications. Specifically, a controller is a more senior position and involves key oversight and decision making over business decisions on a more strategic level than a staff accountant would be asked to provide. A well-functioning accounting and control staff will not only keep the books in order, but will be a strategic resource for maximizing profits through proper financial structure.
Over and above the normal maintenance of accounting, budgeting and reporting process
The accountant is to ensure evaluation of contracts and new projects feasibility. Timely completion of projects and payment to the contractors and sub contractors. Similarly to ensure receivables from tenants / agents shall not have a big list of outstanding.
Control cost on renovation and maintenance of properties and its accessories.
