Lease Accounting Associate

Chesapeake, VA 23320

Posted: 07/20/2020 Job Category: Accounting/Finance Job Number: 00004F74 Pay Rate: $15.00/hr

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 professional relationships with Landlords.

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

Job Requirements

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 requirement
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