Job Description

Lease Analyst
Watertown, MA
55-75k

Responsibilities:

  • Integrate Executed Deals received and incorporate vital data within the company’s ERP System (Yardi).
  • Fully abstract new Leases, Lease Amendments, Lease Terminations, Assignments and other lease documents within Yardi. Abstraction must provide a heightened focus on properly capturing Revenue Recognition items and Encumbrance data to ensure effective reporting.  Operating Expense, Tax and Insurance requirements, as outlined in lease documents, must be captured in the Yardi Recovery Clauses.
  • Review and approve of lease abstractions processed by third-party for acquisition related deals.
  • Maintain awareness of Revenue Recognition items which impact Straight-Line Rent Calculations. Notify and discuss Revenue Recognition items with Accounting Manager and Assistant Controller of Lease Administration to ensure compliance with established SOX 404 Narratives.
  • Coordinate and follow up with Real Estate Services regarding the verification of building SF, unit changes, lease document status, move-in/out forms, major tenant information, and other open portfolio issues.
  • Follow up with Real Estate Services monthly to determine which tenants are vacating or holding over each month.
  • Coordinate, review and process calculation, approvals and posting of monthly recurring charges and any miscellaneous billings/adjustments related to rent.
  • Calculate Consumer Price Index (CPI) Adjustments as they become due.
  • Coordinate and process reconciliation of accounts which may have outstanding A/R issues (Government CPI for example). Analyst should work with the Assistant Controller, where applicable.
  • Assist with the calculation and booking of Percentage Rent and Sub-Rent Receivable Income, when applicable.
  • Assist Records Management Administrator in resolving any questions which arise with a tenant lease/correspondence files to ensure documents are properly reflected.
  • Assist with new acquisitions by abstracting and setting up lease documents in Yardi and create opening entries where required.
  • Assist with the integration of new annual escrows for Operating Expenses and Taxes. Maintain Recovery Clause data and accurate Tenant base information within Yardi and the Excel based Templates in Progress daily throughout the year.
  • Follow up with Real Estate Services, Asset Management or Accounting regarding lease document status, questions and/or open issues.
  • Assist with monthly reconciliation of the reporting database with source data.
  • Perform special projects as needed, assist with internal and external audit requests, and provide support for the Accounting, Legal, Real Estate Services Management and Asset Management departments.

 

Qualifications:

  • Bachelor’s degree.
  • Proficiency with accounting software package (Yardi) preferred. Strong Proficiency with Excel software, Word and other Windows applications.
  • This position requires attention to detail, self-motivation, flexibility and excellent organizational and interpersonal skills. Exceptional verbal and written communication skills are required.
  • Overall knowledge and interest in the commercial real estate industry is critical to success in this position.  Working knowledge of leases, a plus.
  • 3+ years of commercial real estate lease administration experience, knowledge of standard and non-standard lease components. Ability to interpret complex retail and commercial lease language and an understanding of the accounting requirements of leases is essential. Overall knowledge and interest in the commercial real estate industry is critical to success in this position.
  • Ability to work in a fast-paced, collaborative and results driven environment.

 

Application Instructions

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