Lease Accounting Analyst

SITE Centers•Beachwood, OH

2d•Hybrid

About The Position

The Lease Accounting team is looking for a Lease Accounting Analyst in Beachwood, OH to manage and maintain lease agreements between landlords and tenants, ensuring all lease terms and conditions are accurately documented and adhered to. Each day the Analyst will track lease billings, monitor lease expiration dates, manage lease renewals, oversee calculation and billing of lease relate charges, and resolve any issues that may arise regarding lease compliance. This Analyst plays a critical role in ensuring our tenant billings are accurate which results in keeping our AR balance and tenant disputes down and allows us to collect on tenant billings quicker. To thrive in this role, we need an analytical and detailed-oriented Analyst with prior experience as a commercial lease administrator or paralegal with an understanding of basic real estate legal concepts related to retail leases. This position works a hybrid schedule in the Beachwood, OH corporate office 3 days a week (Tuesday and Wednesday required), and the option to work from home up to 2 days a week. During the initial 90-day onboarding period, we might encourage being onsite more than 3 days so you can get successfully oriented and trained in your new role.

Requirements

Knowledge of Commercial Real Estate Lease Structures (Retail preferred)
Prior experience drafting leases and performing lease abstracts
Problem-solving and analytical skills required, with the ability to interpret complex lease documents and identify key provisions
Organizational skills and ability to multi-task; efficiently managing a large volume of lease documents and tracking critical dates
Experience with Microsoft products, MRI, or other related real estate accounting and project management software

Responsibilities

Review lease portfolio to ensure retail leases are in compliance with ASC 842 – Lease Accounting Standard (FASB).
Administer and manage a portfolio of retail leases, ensuring accuracy and compliance with terms and conditions.
Maintain up-to-date lease files within a centralized database, ensuring all documentation, critical dates and other lease related materials are accurately recorded and logically organized.
Review and interpret lease agreements to facilitate precise tracking and comprehensive reporting.
Collaborate with internal and external stakeholders to address inquiries, provide clarification on lease-related matters, and equitably resolve disputes and discrepancies.
Upon the execution of lease documents within assigned portfolio, abstract material clauses such as critical dates and financial and performance obligations.
Refine existing abstracted notes as necessary on an on-going basis.
Oversee the calculation and billing (to the G/L) of all lease related charges and revise as necessary based on amendments and other documents. This includes Rent and Additional Rents, including not limited to Base Rent, Operating Expense Revenue (CAM, Real Estate Tax & Insurance, etc.), Percentage Rent, Overage Rent, CPI Adjustments, Co-Tenancy/Alternate Rents, and Direct Tenant Billings.
Evaluate present and proposed tenancy conditions for designated portfolio and maintain on-going knowledge of various occupancy requirements and use restrictions.
Conduct feasibility studies for prospective deals to identify and anticipate any potential violations.
Collect, record, monitor and report gross sales amounts as provided by Tenants to maintain compliance with Sales Reporting and Percentage Rent requirements as outlined in lease agreements.
Process adjustments to tenants’ accounts after researching lease language and reconciling billings by generating calculation support of findings in Excel.
Works cross-functionally with business partners to resolve tenant disputes or other inquiries in a timely manner.