Lease Accounting Associate

Job Description:

Summary of Position (Job Purpose):

Manage the financial aspects of a portfolio of approximately 650+ store leases. Oversee, review, process, and approve lease-related financial transactions such as Rent, Real Estate Taxes, Common Area Maintenance Charges, Insurance Premiums, and other property-related operating expenses while developing and maintaining a professional relationships with Landlords.

Successful candidates must possess the ability to analyze commercial retail leases and payment information to determine compliance, identify potential overpayments, and the collection of amounts due to the company as an outcome of completed audit results. The ability to work in a fast paced environment with strong attention to detail and organizational skills are essential.

Principal Duties and Responsibilities:

• Responsible for reviewing payment schedules in excess of $6.5 million per month for assigned portfolio of stores.

• Review and prepare invoices for recurring rent payments including operating charges/reconciliations, rent/CPI increases, and any other changes to rent amounts due to expansions, reductions and terminations.

• Review and interpret legal documents for assigned portfolio of stores to determine accuracy of operating expenses.

• Perform desktop audits of landlord year end reconciliations to validate accuracy in rental and ancillary charges, along with any cap requirements and first year variances as per lease requirements.

• Perform analysis of landlord statements and dispute incorrect charges or unauthorized increases to operating expenses.

• Review, research, and resolve past due account balance reconciliations/default notices

• Perform historical audits.

• Perform complex financial and rent analytics

• Maintain database of assigned portfolio of stores to effectively monitor workflow and track individual savings.

• Complete due diligence for preparation of tenant estoppels

• Resolve landlord disputes and critical issues as they develop through effective collaboration with Landlords, the Manager of Lease Accounting, and the Legal Department/Legal Counsel.

• Review lease documents to determine percentage rent obligations and update real estate financial systems accordingly.

• Validate all key lease information for new and relocated store openings.

• Review construction allowance and late delivery fees and initialize payment credits.

• Assist with various projects as they arise

• Handle other duties as assigned

Minimum Requirements/Qualifications:

• 2 years minimum experience in commercial real estate or commercial property management

• Understanding of basic accounting; mathematical aptitude

• Excellent analytical, problem solving, and communication skills

• Proven experience building and maintaining relationships

• Strong attention to detail and advanced organizational skills

• The ability to successfully manage multiple priorities

• Possess strong time management skills with the ability to respond to changing deadlines with a sense of urgency.

• Ability to work with little supervision

• Strong PC skills and knowledge of Microsoft Outlook, Word, and Excel required

This position requires an independent worker who takes initiative and provides accurate, detail-oriented work

Experience in Real Estate or Lease/Contract Management desired, but not a requiremen