TITLE – SERVICE CHARGE ACCOUNTANT
SALARY – £38-45K
LOCATION – (4 DAYS IN OFFICE) CITY OF LONDON
We are looking for a Service Charge Accountant to join a private limited company specialising in commercial and residential real estate. It owns and manages a wide-ranging portfolio in the office, retail, industrial and residential sectors. This is an exciting new role for an experienced Service Charge Accountant to join a dynamic business.
The role has 3 main elements. The core purpose of the role is to work alongside our in-house property managers to prepare the commercial service charge budgets and year end reconciliations. Secondly the role is responsible for entering and maintaining property and lease information on our property management system. The third element of the role is to manage the company’s property insurances.
Key Duties and Responsibilities:
- · To coordinate the process and work alongside our in-house property managers to prepare the annual commercial service charge budgets and year end reconciliations.
- · This will include setting the timetable for each and monitoring progress against timetable.
- · Preparing the year end service charge reconciliation will include reviewing expenditure, accruing additional expenditure where required and highlighting issues for the property managers.
- · To prepare periodic cash reconciliations and maintain reserve accounts.
- · To calculate and bill void costs to the Landlord quarterly.
- · To calculate and bill the service charge management fees quarterly.
- · To enter and maintain property and lease information on our property management system including tenancy details, rent and service charges, rent reviews and break dates.
- · To manage the annual renewal process for the property, terrorism and plant and machinery insurances. This will involve preparing information, sharing this with our insurance broker and responding to queries.
- · To calculate the allocation of these costs to individual properties and tenants and bill these charges.
- · To respond to queries from tenants on annual premiums.
- · To coordinate with the property managers to provide information for insurance claims and follow claims through to conclusion.
- · To provide quarterly property information to the insurers.
To prepare a monthly report for the Directors providing an update on each insurance claim.
- · To coordinate the fire insurance valuation process periodically.
Summary of qualifications and experience required
- · To have experience of preparing service charge budgets and reconciliations.
- · Knowledge and understanding of the RICs guidelines for commercial service charges.
- · Familiarity with commercial property leases.
- · Experience of using a property management system and accounting software.
- · Understanding of accounting and experience of posting journals.
In our company values we aim for equity at all stages of the recruitment process, please let us know if we can do anything to make the process more accessible to you.