Property Accountant Salary
Property Accountants in the United States can expect to earn an average of $52K per year. Cash earnings for Property Accountants — which occasionally include more than $6K from bonuses and more than $5K from profit sharing — stretch from around $40K to approximately $68K. Residence and years of experience each impact pay for this group, with the former having the largest influence. Men are in the minority of survey respondents, with female Property Accountants making up 72 percent. The majority of Property Accountants claim high levels of job satisfaction. Medical benefits are awarded to a large number, and a fair number earn dental coverage.
|Salary||$40,140 - $66,351|
|Bonus||$483.68 - $6,134|
|Profit Sharing||$0.00 - $4,966|
|Total Pay (|
XTotal Pay combines base annual salary or hourly wage, bonuses, profit sharing, tips, commissions, overtime pay and other forms of cash earnings, as applicable for this job. It does not include equity (stock) compensation, cash value of retirement benefits, or the value of other non-cash benefits (e.g. healthcare).)
|$39,525 - $67,717|
|Hourly Rate||$16.87 - $27.93|
|Overtime||$28.17 - $41.23|
|Bonus||$483.68 - $6,134|
|Profit Sharing||$0.00 - $4,966|
|Total Pay (||$39,525 - $67,717|
Job Description for Property Accountant
Property accountants are in charge of handling property accounting tasks for their company. They are responsible for completing sound financial analysis and balance sheet account reconciliation. In addition, they prepare regular reports (usually monthly) based on organizational objectives.Read More...
These accountants also conduct financial maintenance for a variety of properties, initiate payments for debts incurred by their organization, calculate monthly management fees, and assist management staff with annual budget activities. In all tasks, property accountants must keep accurate financial records and resolve any discrepancies as they arise. These accountants also help with special projects related to property financial incentives, as well as prepare tax forms and stay up to date on changes to relevant financial laws. Property accountants also handle currency in an accrual or cash basis. Generally, these accountants report their progress to the accounting manager or supervisor in their department.
A bachelor's degree in accounting or a related discipline is needed for this position. In addition, previous experience in property management may be preferred. Property accountants must work well independently, but also work well with other accountants in a team setting. They should also possess strong organizational skills, pay close attention to detail, and have excellent interpersonal skills to communicate with other departments about property financial matters. They must also be able to multitask and be proficient with specialized accounting software and basic computer software. (Copyright 2017 PayScale.com)
Property Accountant Tasks
- Prepare and post entries to the general ledger and manage the monthly close process.
- Prepare and implement audit schedules and process re-engineering to reduce financial errors.
- Reconcile balance sheets, accounts, and invoices.
- Prepare monthly, quarterly, and ad hoc reports with variance explanations.
Common Career Paths for Property Accountant
At the upper end, Property Accountants who move into a Financial Controller role can end up with a hefty increase in pay. The average income for Financial Controllers is a much higher $77K per year. Property Accountants typically move into roles as Senior Accountants or Senior Property Management Accountants, and those positions pay $8K more and $13K more, respectively.
Property Accountant Job Listings
Popular Skills for Property Accountant
Property Accountants report using a pretty varied skill set on the job. Most notably, skills in Accounting, Financial Analysis, Budgeting, and Microsoft Excel are correlated to pay that is above average, with boosts between 4 percent and 12 percent. At the other end of the pay range are skills like Accounts Receivable and Accounts Payable. The majority of those who know Accounts Payable also know Financial Reporting.
Pay by Experience Level for Property Accountant
Pay by Experience for a Property Accountant has a positive trend. An entry-level Property Accountant with less than 5 years of experience can expect to earn an average total compensation of $49,000 based on 356 salaries provided by anonymous users. Average total compensation includes tips, bonus, and overtime pay. A Property Accountant with mid-career experience which includes employees with 5 to 10 years of experience can expect to earn an average total compensation of $55,000 based on 131 salaries. An experienced Property Accountant which includes employees with 10 to 20 years of experience can expect to earn an average total compensation of $53,000 based on 106 salaries. A Property Accountant with late-career experience which includes employees with greater than 20 years of experience can expect to earn an average total compensation of $57,000 based on 31 salaries.
Pay Difference by Location
For those looking to make money, Property Accountants in New York enjoy an exceptional pay rate, 29 percent above the national average. Property Accountants will also find cushy salaries in Austin (+18 percent), Chicago (+16 percent), Boston (+11 percent), and Atlanta (+11 percent). Those in the field find the lowest salaries in Virginia Beach, 20 percent below the national average. Employers pay around 18 percent less in Orlando and 7 percent less in Los Angeles, below-median salaries for those in this field.
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