Lease Accounting Associate
Chesapeake, VA 23320
GREAT LONG TERM TEMPORARY OPPORTUNITY
LEASE ACCOUNTING ASSOCIATE
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
- 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