The
Lease Auditor
is an integral member of the Lease Administration/Audit team and will be responsible for performing lease audits related to OPEX, CAM, RET, Insurance and Utilities.
Key Responsibilities
The successful candidate will be able to demonstrate core competencies in the following areas:
Perform in depth and desktop audit reviews of all annual expense reconciliations to ensure accuracy and compliance with the lease terms (charges such as CAM, operating expenses, real estate taxes, insurance, utilities, maintenance/repair, capital expenditures, etc.)
Strong knowledge of commercial lease language and ability to interpret provisions related to landlord’s rights to pass through certain expenses to tenants. Must understand and be able to apply concepts related to Proportionate Share’s, Management and Administrative fees, Base Years, Gross up provisions, CAP’s, amortization of capital expenditures, GLA, GLOA, Co-Tenancy, among other lease provisions.
Communicate effectively and in a sensitive manner with landlord representatives to request appropriate backup documentation to support the annual statements and to continue dialogue during any potential dispute of charges. Follow-up with landlords on a timely basis until any open audit and/or dispute resolution is completed to the satisfaction of client.
Review and understand information provided by Landlords such as General Ledgers, Real Estate Tax bills, Insurance premiums/declaration pages, utility invoices, amortization schedules, monthly estimates/impounds, etc.
Be informed regarding industry trends and geographical nuances in dealing with all lease and property types.
Perform detailed analysis of expenses charged using standardized checklists and year over year variance worksheets.
Work closely with Lease Analysts who may be assigned to client accounts in communicating audit progress and, as needed, communicate directly with client on status of audits, findings and recommended course of action.
Prepare final analysis and clearly articulate the Summary of Findings for each audit performed. Prepare savings/recovery invoices to be provided to accounting for billing clients as appropriate per contracts.
Maintain audit files/records and detail tracking of audits in process, status, dates and details regarding landlord communications, outstanding matters, closed audits, and any realized savings.
Regular reporting of status to internal management.
Requirements
The successful candidate will possess the following required degrees, certificates or competencies:
Associates or Bachelor’s degree in business, accounting, real estate, or similar field required.
Working experience with commercial real estate database applications such as ProLease, Harbor Flex or CoStar and accounting software such as MRI or Yardi or other lease management database systems.
Qualified candidates will have at least 3 years of hands-on experience in the commercial real estate lease administration industry having worked in either (or both) the Landlord or Tenant sector with a majority of the time spent in performing lease audits/OPEX reconciliations.
Exemplary business/work ethics, professionalism, and integrity.
Extremely detailed oriented with strong organizational, interpersonal, and communications skills.
Works calmly in high-pressure situations with the ability to multi-task.
Strong analytical and technology/database skills.
Advance knowledge of Microsoft Excel.
Excellent writing skills.
Proactive and innovative thinker.
Passionate about quality, service, and Client satisfaction.
Strong commitment to individual, department and organizational success.
Ability to work independently as well as part of a team.
Demonstrates confidence, tenacity and determination to succeed.
