Lease Accounting Analyst

Description

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.

The expected salary range for this position is between $45,000-55,000. Actual compensation will be based on factors such as scope and responsibilities of the position, candidate's work experience, education/training, job-related skills, internal peer equity, geographical and industry market data, and business considerations and other factors permitted by law.

To be successful in this role, you will need to:

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.

We Are Looking For An Analyst With

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

About Us

SITE Centers is an owner and manager of retail real estate, with a premier portfolio of open-air shopping centers located in the most desirable locations across the United States. Headquartered outside of Cleveland in Beachwood, Ohio, we are a self-managed and self-administered REIT, publicly traded on the New York Stock Exchange under the ticker: SITC. We employ approximately 160 employees, with 130 hybrid workers in our corporate office, and the remainder of our staff based remotely across the country, including a regional office in Atlanta, Georgia.

SITE Centers is uniquely positioned within the industry, operating with the institutional foundation and corporate benefits program of a much larger company, yet with an employee count that allows us to embrace our creative, entrepreneurial spirit. This distinct combination allows us to foster a cohesive, cross-functional team that brings a diverse array of experiences and worldviews to our organization. We pride ourselves on fostering an inclusive work culture that is centered on valuing Fearlessness, Authenticity, Curiosity and Thoughtfulness. Collectively, these core values make up our Matters of FACT, the guiding principles that drive our day-to-day operations and reflect the code and behaviors that exist in our passionate, hardworking and dedicated team members.

Why This Role Is a Great Opportunity

The position of Lease Accounting Analyst at Site Centers offers a unique opportunity to delve into the intricate world of real estate finance. Located in the vibrant city of Beachwood, OH, this role places you at the heart of a dynamic industry that is crucial to the economic landscape. As retail and commercial leasing continue to evolve, professionals in this field are in high demand, making this a strategically valuable career move.

At Site Centers, you will have the chance to work with a team of experienced professionals, providing ample opportunities for mentorship and professional growth. The skills you acquire here are not only relevant to lease accounting but are also transferrable to various roles within finance and real estate. Additionally, the company is known for its commitment to employee development, offering pathways for career advancement and skill enhancement.

Key Skills You Need to Succeed

• Proficiency in Excel: Essential for managing large datasets, performing complex calculations, and generating insightful reports.
• Understanding of Lease Agreements: A solid grasp of lease terms and conditions ensures compliance and accurate documentation.
• Analytical Skills: Ability to interpret financial data and identify discrepancies is crucial for maintaining accurate tenant billings.
• Problem-Solving: Quick and effective resolution of lease compliance issues helps maintain strong landlord-tenant relationships.
• Communication Skills: Clear and effective communication with both internal teams and external stakeholders is necessary for successful lease management.
• Experience with 'Go' and 'R': Familiarity with these programming languages enhances your ability to automate tasks and analyze data efficiently.

Tips to Get Hired for This Role

To stand out as a candidate for the Lease Accounting Analyst position at Site Centers, tailor your resume to highlight relevant experience in lease management and accounting. Be sure to showcase your proficiency in Excel and any experience with data analysis tools like 'Go' and 'R'. Quantify your achievements where possible, such as the percentage by which you improved billing accuracy or reduced discrepancies.

During the interview, demonstrate your problem-solving abilities by discussing past experiences where you effectively resolved lease-related challenges. Prepare to discuss how you prioritize tasks and manage deadlines, as these are critical skills for handling multiple lease agreements simultaneously. Show a keen interest in the real estate industry and express a desire to grow within Site Centers, as this will underscore your commitment to the role and the company.