Lease Administration Auditor

May 9 2021
Industries Retail , Wholesale
Categories Retail, Property Management, Real Estate, Administration, Finance, Accounting, Real Estate, Store Maintenance
Aurora, ON

Department: Real Estate
Reports to: Senior Director, Real Estate
Location: Aurora, Ontario
Employment Status: Full time

Job Purpose

This position is responsible for the review of all rental notices and conducting thorough desktop audits of all Landlord related expenses, primarily focusing on Operating Costs and Property Taxes as well as promoting positive landlord/tenant relationships.

This individual will ensure the accurate and timely review of all rental notices and year-end reconciliations including the ability to identify areas of expense reduction and dispute landlord charges where applicable to maximize savings for the Company.

Duties and Responsibilities

Project /Task Management

  • Responsible for the accuracy of all Minimum and Additional Rent expenses paid to the landlord.
  • Responsible for the accurate analysis of rent expenses including but not limited to, Operating Costs and Property Taxes as it relates to all rental notices and year-end reconciliations.
  • Responsible to ensure that all landlord billings, including rental notices and year-end reconciliations are reasonable, accurate and in accordance with the terms of the lease agreements which includes a thorough desktop audit and verification of the pro-rata share.
  • Responsible to research and resolve any discrepancies in the rental notices and/or year-end reconciliations and challenge costs and/or billing discrepancies with landlords through effective written and verbal communication.
  • Provide finance corporate accounting team with an accurate monthly rent roll for the payment of rent which will include any deductions or additions due to prior reconciliations and/or rent adjustments.
  • Provide franchisees with an accurate annual rental notice with detailed instructions on the payment of rent required to the landlord.
  • Process all audit findings and reimbursements as necessary which includes providing accurate updates in both a verbal and written format to the franchisee.
  • Responsible to track all rental information and keep an accurate and up-to-date reflection for all rent components, landlord, property management, percentage rent and lease related dates in the Lease Master Database.
  • Responsible to respond to all internal and external inquiries in a timely manner, maintaining professional relationships with colleagues, franchisees and landlords.
  • Responsible for the accurate analysis of supporting documentation provided by the landlords for the additional rent calculations prior to execution of any new deals.
  • Ability to interpret all rent related clauses and definitions from the Offers to Lease and Lease Agreements and the accurate and appropriate applications of these clauses.
  • Assist with the review and interpretation of operating cost and property tax clauses in the Offers to Lease and/or Lease Agreements working in conjunction with the Commercial Real Estate Law Clerks and Manager, Real Estate.
  • Calculate, track, diarize and prepare all documents related to the collection of Tenant Allowances for each location, including the preparation of Statutory Declarations.
  • Preparation of special reports as and when required.
  • Preparation of sales reports to landlords including the calculation of percentage rent.
  • Responsible for the set up and transfer of all utility accounts (hydro, gas, water and telephone) when there are store transfers between franchise and corporate.
  • Maintain company rent lease obligation log and provide monthly updates to the finance team.

Job Knowledge

  • Use previous analytical experience and industry knowledge to make recommendations and flag any potential issues or discrepancies with rental notices and year-end reconciliations.
  • Use negotiating skills to challenge billing discrepancies.

Detail Orientation

  • Prepare analysis of all rental notices and year-end reconciliations and all related correspondence ensuring all details are accurately documented.
  • Ensure all reports, logs and the Master Lease Database are accurate, updated regularly and detailed.
  • Apply proof reading and editing skills to all documents and correspondence to ensure accuracy.

Communication

  • Communications are to be professional, clear, concise, timely, thorough and proactive.
  • Communicate regularly and proactively with Real Estate and Finance teams to ensure alignment on projects.
  • Act as the liaison between company management and outside landlords.
  • Ensure effective internal communication with all implicated parties.

Push for results

  • Work within strict deadlines.
  • Organize and expedite the flow of work, initiate and follow-up as required.
  • Solicit guidance as required from time to time to ensure all documentation is completed on time and meets Company standards.

Partnership/Teamwork

  • Develop and maintain professional working relationships with franchisees and landlord's.
  • Work with team members to ensure all documents are completed in a timely manner (such as review and interpretation of supporting documentation on additional rent calculations).
  • Solicit guidance from team members as required from time to time (such as commercial real estate law clerks and/or manager, real estate).

Quality

  • Ensure all documents and communications are accurate, print ready and meet Company standards.

Analytical Skills

  • Ensure all rental notices and year-end reconciliations are accurately analyzed to be able to realize any exposure and cost savings to the Company.

Promotes and works to maintain workplace wellness, health and safety, through active compliance with all workplace health and safety policies and procedures.

Any other duties as required

Qualifications

  • Post-secondary education in Business Administration Management, Business Accounting and/or related field.
  •  5 years' experience in property accounting with a major landlord or retailer.
  •  5 years' experience with ability to review and interpret rent related lease clauses.
  •  5 years' work experience with strong analytical skills
  •  Professionalism and good judgement in dealing with sensitive franchise and financial information.
  • Advanced level of computer skills, including MS Word, MS Excel and MS Outlook
  • Basic Accounting Knowledge
  • Ability to prioritize and multitask.
  • Fluent in English, both verbal and written.
  • Attention to detail.
Apply now!

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