The Analyst, Lease Administration will be part of the Property Accounting Team, reporting to the Supervisor, Lease Administration.  Daily tasks include maintaining various lease documents and tracking lease documents through abstraction process, and other projects as assigned. The Lease Analyst is primarily responsible for reconciling and processing payments for our retail stores, reconciling accounts with outstanding balances, and ensuring amounts billed are owed in accordance with the terms of the lease. Responsibilities also include coordinating information to the Legal, Real Estate Operations, Construction, and Lease Accounting departments.

 

Reports To: Supervisor, Lease Administration

 

Essential Duties and Responsibilities:

Ability to interpret lease language and familiarity with retail and office leases. Experienced in utilizing commercial real estate lease software (Lucernex) for abstracting leases. Ability to analyze and prepare account reconciliations in Excel. Responsible for running reports to monitor pending dates, expirations, and renewals and maintain accurate and up-to-date information regarding lease agreements within Lucernex. Ability to work in a fast-paced environment. Create new or improve existing business processes. Perform audits of all occupancy expenses (rent, CAM, real estate taxes, insurance…) charged by the Landlord to ensure compliance with the lease. Read, understand, and interpret complex commercial lease language to evaluate and ensure that the amounts calculated as due by the Landlord are accurate (base rent, operating expenses, commencement date, rent commencement date, real estate tax, insurance obligations, etc.). Will calculate and chargeback Landlord for expenses that are not owed. Communicate via phone, email and/or written letter with Landlords, Property Accountants and/or Property Managers to resolve disputes (including Landlord defaults) and ensure lease language compliance in accordance with the contract. Coordinate with Legal Counsel, Real Estate Operations and Landlords to resolve any questions/legal issues related to landlord charges. Review landlord requests to adjust monthly occupancy estimated escrow payments for accuracy and compliance with lease provisions. Review Landlord statements to ensure proper payments by tenant, accurate payment application by the Landlord’s office and amounts billed are owed in accordance with the lease. Communicate with Landlords regarding disallowed expenses, misapplication of payments or overpayments by Tenant. Responsible for the analysis of lease expenses to identify unusual trends, issues or leases requiring additional research and review. Research occupancy expense account variances for annual plan review. Complete lease software updates as needed, which includes corrections/updates to lease data, pro-rata share, occupancy expense, Landlord information, etc. Support various management and departmental projects as needed (e.g. research of leases based on new accounting pronouncements, gathering information related to payments or specific general ledger accounts or running reports to facilitate the gathering of information). Other administration tasks, such as lease abstraction, critical dates reporting and document management (both physical and electronic).

 

Required Skills:

Advanced Microsoft Office (Excel, Word) skills. Preferred: Real Estate/Lease Administration software experience (i.e. Lucernex, Accruent, etc.); Oracle knowledge Excellent communication skills, written and verbal. Strong problem-solving skills. Exceptional attention to detail and concern for accuracy Solid understanding of real estate and lease terminology; Understanding of lease accounting principles Ability to prioritize multiple projects/tasks and work independently.

 

Competencies:

SETTING GOALS – Creates and follows effective plans. Anticipates risks, creates contingency plans. Aligns plans with goals. Allocates adequate resources. Accepts and supports change. Willing to take risks and suggests new ideas, approaches. Takes initiative. Seeks out learning activities.

 

WORKING WITH OTHERS – Clearly articulates own, other’s goals. Promotes a team atmosphere by demonstrating humility and respect. Builds effective relationships, relates well to others. Delivers and responds to feedback in a constructive manner. Considers multiple perspectives. Handles conflict, pressure, uncertainty and adapts independently. Meets commitments. Dedicated to working with business partners on their expectations.

 

GETTING RESULTS – Personally accountable for work performance targets and achieving results. Prioritizes well. Anticipates and handles obstacles effectively. Makes good, timely decisions. Can simplify and process complex problems. Understands underlying issues and addresses root causes. Meets deadlines, works until finished.

 

Qualifications:

Experience:

3+ years of experience in retail lease audit or commercial retail shopping center property management

 

Preferred Qualifications:

Retail experience a plus Familiarity with Real Estate and/or Real Estate transaction experience preferred Proficiency in analyzing Real Estate leases and interpreting lease terminology

 

Education:

Bachelor's Degree in Finance, Accounting, or other business-related degree

 

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