Property Accountant Salary
Average Property Accountants in the United States make around $51K annually. Total cash earnings of Property Accountants range from $39K on the low end to $67K on the high end; the final amount can include bonuses and profit sharing proceeds that occasionally exceed $7K and $5K, respectively. Geography is the biggest factor affecting pay for this group, followed by career duration. Most report receiving medical coverage from their employers and a strong majority collect dental insurance. Most Property Accountants report high levels of job satisfaction. Female Property Accountants make up most of the survey respondents at 73 percent. This report is based on answers to PayScale's salary questionnaire.
|Salary||$39,971 - $66,017|
|Bonus||$477.68 - $6,649|
|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).)
|$38,965 - $67,448|
|Hourly Rate||$16.64 - $28.00|
|Overtime||$25.77 - $41.74|
|Bonus||$477.68 - $6,649|
|Profit Sharing||$0.00 - $4,966|
|Total Pay (||$38,965 - $67,448|
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.
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
Property Accountants' salaries may rise greatly for those who assume a higher-end position such as a Financial Controller. The average Financial Controller brings home $77K per year. Property Accountants typically move into roles as Senior Accountants or Senior Property Management Accountants, and those positions pay $9K more and $14K more, respectively.
Popular Skills for Property Accountant
Property Accountants report using a diverse set of skills 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 5 percent and 14 percent. Skills that are correlated to lower pay, on the other hand, include Accounts Receivable. Most people skilled in Accounts Payable are similarly competent in 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
New York offers some of the highest pay in the country for Property Accountants, 32 percent above the national average. Property Accountants can also look forward to large paychecks in cities like Austin (+20 percent), Chicago (+18 percent), Boston (+13 percent), and Atlanta (+13 percent). Virginia Beach is home to the smallest salaries in the field, lagging the national average by 18 percent. Workers in Orlando and Los Angeles earn salaries that trail the national average for those in this profession (17 percent less and 5 percent less, respectively).
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