Responsible for the annual tenant account reconciliations as it relates to their lease language. The individual will be working closely with the accounting, property management and lease administration teams on a regular basis to provide the most current and accurate information pertaining to each tenant’s lease.
- Prepare tenant reconciliations for common area maintenance (CAM), insurance and real estate taxes in accordance with lease terms for an assigned portfolio of projects.
- Complete setup for all recovery calculations in accordance with lease terms, other legal documents, and historical information.
- Partner with Property Management team to resolve tenant billing disputes, document any changes, and update recovery setup where applicable.
- Facilitate on-site audit requests from tenants and assist with tenant ledger reconciliations, as needed.
- Review property operating expenses for proper GL coding and other GL account reconciliations, as assigned.
- Review semi-annual and annual property tax billings and related tenant adjustments for accuracy; approve tenant billings.
- Provide support to internal customers as needed to include property management team, accounting, and lease administration.
- Partner with Property Management team to assist with annual property level budgeting process. Complete setup for budget calculations in MRI and other systems as needed.
- Documents process and procedures, as needed.
- Track new incoming leases, identify correct suite number for each deal on the appropriate rent roll, and set up preliminary leases
- Abstract leases and amendments, extracting key lease clauses, data and billing items
- Enter leases into accounting systems (MRI, Yardi, etc.); manage rent rolls, suites & SF in accounting systems
- Prepare Tenant Adjustment forms for billings related to newly commenced leases and amendments
- Review NNN language in leases, and prepare recovery summaries for newly commenced leases
- Review and validate tenant billing adjustments submitted by PM teams, confirming accuracy according to lease language and/or other backup
- Participate in lease and financial reviews during due diligence processes
- Track triggers and tenant remedies related to cotenancy and kickout rights; prepare reports for same based on our abstracting data
- Perform regular audits of all properties rent rolls for accuracy
- Review and interpret lease language, when requested by PM or Recoveries teams
- Monitor paperwork and procedures within the department for best practices and consistency and collaborate with Property Management and Accountants when changes may be necessary.
- Ongoing interaction with property management and accounting teams
- Additional tasks and projects as directed
- Solutions Oriented
- Analytical Thinking
Required Education & Experience
- Bachelor’s degree in accounting, finance, business administration with emphasis in Accounting or related field is a plus
- Ideal candidate has 2 to 5 years of experience in field
- Previous experience as accountant
- Experience with MRI and YARDI accounting software and Microsoft Office Suites
- Knowledge of finance, accounting, budgeting, cost accounting and cost control principles, and Generally Accepted Accounting Principles (GAAP)
- Excellent written and verbal communication skills
- Great attention to detail