Recruiter's Glossary

Examples: Preventive Maintenance • Aged Receivables • Access Control

Accounts Receivable

Term from Property Management industry explained for recruiters

Accounts Receivable is the part of a business that handles collecting and tracking money that tenants or clients owe to the property management company. This includes managing rent payments, security deposits, late fees, and other charges. Think of it as keeping track of who needs to pay what and when. Someone working in Accounts Receivable makes sure all payments are received on time, follows up on late payments, and keeps accurate records of all money coming into the business. They often work with property management software to track these payments and may also handle tenant billing questions.

Examples in Resumes

Managed Accounts Receivable for a 200-unit apartment complex, maintaining a 98% on-time payment rate

Processed daily A/R transactions and reduced overdue payments by 40%

Supervised Accounts Receivable team handling $2M in monthly rent collections

Typical job title: "Accounts Receivable Specialists"

Also try searching for:

AR Specialist Accounts Receivable Clerk Collections Specialist Billing Coordinator Property Accountant AR Manager Accounts Receivable Coordinator

Where to Find Accounts Receivable Specialists

Professional Networks

Job Boards

Example Interview Questions

Senior Level Questions

Q: How would you handle a large-scale rent collection process for multiple properties?

Expected Answer: Look for answers that demonstrate experience with managing multiple properties, organizing payment schedules, using property management software, and developing efficient collection processes. They should mention strategies for maintaining high collection rates and handling complex situations.

Q: Describe your experience with implementing or improving AR policies and procedures.

Expected Answer: The candidate should discuss examples of creating payment policies, improving collection rates, training staff, and using technology to streamline processes. They should also mention experience with reporting and analysis.

Mid Level Questions

Q: How do you handle difficult collection situations with tenants?

Expected Answer: Look for answers that show professional communication skills, knowledge of collection procedures, understanding of lease terms, and ability to maintain positive relationships while being firm about payments.

Q: What steps do you take to reduce late payments?

Expected Answer: Candidate should mention payment reminders, clear communication of policies, establishing payment plans when needed, and maintaining organized records of all interactions and agreements.

Junior Level Questions

Q: What experience do you have with property management software?

Expected Answer: Look for familiarity with basic software functions, ability to input payments, generate reports, and maintain accurate records. They should show willingness to learn new systems.

Q: How do you ensure accuracy in payment processing?

Expected Answer: Should discuss attention to detail, double-checking entries, reconciling accounts, and following established procedures for handling payments and deposits.