SENIOR PROPERTY ACCOUNTANT

• Job ID: 56513
• Job Category: Finance, Accounting & Purchasing
• Division & Section: Corporate Real Estate Management, Business Management
• Work Location: Metro Hall, 55 John St, Toronto, ON M5V 3C6  
• Job Type & Duration: Full-Time Permanent Vacancies
• Salary: 94,905.00 - 128,386.00
• Shift Information: Monday to Friday, 35 hours per week
• Affiliation: Non-Union
• Number of Positions Open: 3
• Posting Period: 21-Jul-2025 to 05-Aug-2025
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Job Summary 

The Corporate Real Estate Management (CREM) division is responsible for the operational day-to-day stewardship and planning of the City's real estate assets.

Within CREM, the Business Management unit strives to support and improve business performance with a focus on business processes, fiscal stewardship, and leveraging industry expertise. The team is made up of a diverse group of professionals who deliver efficient administration, evaluate program effectiveness, conduct financial analysis and report on performance results, while ensuring industry best practices are incorporated into processes and standards throughout the division.

As part of the Business Management unit, the Lease Administration team manages and provides oversight and issues resolution for over $183M in annual lease contract value, over approximately 1,200 separate lease-in and lease-out contracts.

Reporting to the Senor Project Manager, Lease Administration, the Senior Property Accountant will supervise the operating cost recovery and annual tenant reconciliations of a large, diversified lease portfolio by reviewing and interpreting lease agreements, reconciling operational and capital costs and communicating with tenants on financial matters. They will provide complex financial analysis and guidance, contributing to strategic decision-making and process improvements.

Major Responsibilities:   

• Implements detailed plans and recommends policies/procedures regarding program specific requirements.
• Supervises, motivates and trains assigned staff, ensuring effective teamwork, high standards of work quality and organizational performance, continuous learning and encourages innovation in others.
• Supervises the day to day operation of all assigned staff including the scheduling, assigning and reviewing of work.  Authorizes and coordinates vacation and overtime requests. Monitors and evaluates staff performance, approves salary increments, hears grievances and recommends disciplinary action when necessary.
• Provides input into and administers assigned budget, ensuring that expenditures are controlled and maintained within approved budget limitations.
• Supervises the operating cost recovery process, including the management of annual reconciliations, tenant billings, lease adjustments, and budget preparation to ensure accuracy and compliance. 
• Supervises and validates in-depth analysis and interpretation of leases and related agreements (e.g. shared facilities agreements, cost sharing agreements, reciprocal agreements, head leases and subleases, lease amending and extension agreements to ensure accurate billing practices and adherence to all relevant provisions and regulatory requirements. 
• Provides strategic oversight in the analysis of operating and capital expenditures across properties, ensuring accuracy in documentation, appropriate classification, and recoverable status, including utilities, custodial, and security costs. 
• Supervises and reviews variance analysis, ensuring financial outcomes are aligned with contractual obligations and regulatory frameworks and facilitates communications with partners to resolve discrepancies or gather further clarification.
• Guides the application and interpretation of lease provisions related to the percentage rent calculations and rent reset, and collects and retains documentation to support the analysis.
• Conducts complex financial analysis to support strategic decision-making and provides guidance to enhance business performance. Continuously identifies opportunities for process improvements to achieve the most accurate results and drive efficiency.
• Provides recommendations for approval of reconciliation work performed by all assigned staff, based on comprehensive reviews, ensuring a high degree of accuracy, reliability and compliance with the internal standards. Provides advice and guidance to senior management. 
• Addresses, resolves and de-escalates financial inquiries related to lease agreements from tenants, landlords, property management companies, the public, and government officials. Ensures timely and effective resolutions while maintaining compliance with lease terms and regulations.
• Collaborates with Accounting Services as necessary, including the Accounts Receivable unit with a primary focus on rent collection, including tracking and recovering outstanding balances, as well as validating payments and information on the late payment charges.
• Maintains ongoing relationships with tenants, internal teams, and external service providers. Resolves lease administration matters through investigative research and dispute settlement. 
• Supervises the preparation and delivery of correspondence to tenants, communicating rental billing charges clearly and accurately. 
• Responds to inquiries from tenants, other Divisions, the public and officials of all levels of government, ensuring prompt responses with the support of other teams when required.
• Reviews and approves comprehensive summaries and supporting documentation for all required adjustments outcomes. Ensures all tenant communication are delivered in a professional manner, while maintaining transparency and clarity.
• Collaborates with various teams and Divisions within the City, including client Divisions, property management, Facilities Management, Transaction Services, Project Management Office, Utility & Asset Management, Revenue Services, Corporate Security, etc. to address various issues related to reconciliations and other financial concerns promptly and professionally. 
• Coordinates and ensures timely completion of regular monthly financial system updates, providing guidance on complex entries as needed to reflect changes in the rental income generated by properties. 
• Leads the maintenance and accuracy of lease administration records, including the setup of new lease accounts and verification of data integrity as required. 
• Coordinates and leverages the financial system for data entry, analysis, reporting, and management of property accounting functions.
• Coordinates and provides support during financial audits, responding to audit inquiries and ensuring compliance with industry standards and regulations.
• Coordinates and attends meetings with tenants, landlords, community groups, property owners, Councillors, City staff and other counterparts for the purpose of presenting financial analysis and relevant data and advising on lease administration matters and City policies.
• Prepares summaries, memos, briefing notes and reports for Council, Committees, and other partners when required. 

Ensures work is undertaken in a manner that complies with and supports City compliance with the Ontario Occupational Health and Safety Act (OHSA), other relevant codes and regulations and City policies. The above reflects the general details considered necessary to perform the principle functions and shall not be construed as a detailed description of all the work requirements inherent in the job.

 Key Qualifications:  

1. Post-secondary education in Financial Management, Accounting, Public Administration, Business Administration, or a professional discipline pertinent to the job function, or an equivalent combination of education and experience. Professional accounting designation, e.g. CPA is an asset.
2. Extensive experience in accounting, cost analysis, accounts reconciliations, contract administration, cost control and budgeting in an operating environment including working with financial systems (e.g. SAP, etc.).
3. Extensive property accounting experience that includes contract management experience with real estate/legal implication, experience in the verification of different parties' responsibilities and agreement enforcements, and /or experience in managing multiple, mixed-used properties and facilities.
4. Experience providing effective work direction and/or training to staff in a financial or accounting role.
5. Proficient at Microsoft Office Suite (i.e. Excel, Word, and PowerPoint) with ability to perform financial analysis and analyze large volumes of financial data and develop related presentations.
6. Demonstrated ability to communicate effectively both orally and in writing at a professional level with senior management, consultants, staff and elected officials.
7. Ability to act as effective liaison between stakeholders.
8. Ability to address, resolve, deescalate and /or negotiate enquiries specific to financial aspects in leases from tenants, landlords, property management companies, the public, and officials of all levels of government.

Note To Current City of Toronto Employees 

City of Toronto employees are eligible to apply for the posted job opportunity, but cannot hold two different jobs. To be considered for this job posting, you must indicate that you are a "Current City of Toronto employee" on the on-line application form, and provide your "Employee Number".

Equity, Diversity and Inclusion

The City is an equal opportunity employer, dedicated to creating a workplace culture of inclusiveness that reflects the diverse residents that we serve. Learn more about the City’s commitment to employment equity.

Accommodation

The City of Toronto is committed to creating an accessible and inclusive organization. We are committed to providing barrier-free and accessible employment practices in compliance with the Accessibility for Ontarians with Disabilities Act (AODA). Should you require Code-protected accommodation through any stage of the recruitment process, please make them known when contacted and we will work with you to meet your needs. Disability-related accommodation during the application process is available upon request. Learn more about the City’s Hiring Policies and Accommodation Process.