Manager, Lease Administration

6 days ago

Markham, Canada Pet Valu Full time $60,000 - $80,000 per year
Hybrid: Markham, Ontario

Job Description:

Job Summary:

The Lease Administration team is responsible for all payments to landlords of rent, CAM and property taxes required under the leases including desktop audit of Landlord's year-end CAM and property tax reconciliations. On franchised sites, the team is also responsible for re-billing rent, CAM, property taxes and other expenses to the applicable franchisees. In addition, the team is responsible for applicable period and year end lease accounting entries and balance sheet account reconciliations, the preparation of budget schedules relating to lease expense, and reports relating the lease critical data.

The Manager is responsible for assisting in managing the Lease Administration team to achieve departmental goals - train, coach, motivate and support the team in the completion of their duties.

Essential Details and Responsibilities

  • Lease administration, including the tracking of key dates for lease renewals and the identification of locations where outstanding issues require follow-up.
  • Review and approve all landlord lease documents that have been entered into the lease administration system.
  • Review and approve period/year-end journal entries.
  • Approve desktop audit of annual landlord reconciliations of budget to actual CAM and property tax charges for processing.
  • Ensure all rent, CAM and property tax payments to landlords are made in accordance with lease terms. Review and approve one-off landlord invoices (primarily utility charges and miscellaneous repairs and maintenance).
  • Review and approve franchisee billing of recurring and one-time base rent, CAM and realty tax charges. Review and approve franchisee CAM and realty tax reconciliations. Approve gross sales reporting and percentage rent payments to landlords.
  • Review and approve all aspects of the monthly landlord rent roll including approval of new vendors and vendor updates, and payments via cheque and EFT.
  • Prepare monthly Lease Administration reports. Work cross-departmentally with the Real Estate Legal and Construction groups on upcoming store activity (new stores openings, expansions, relocations).
  • Landlord issue dispute resolution such as additional rent (CAM & property tax) charges and working with Legal if and when required. Review draft lease agreement sections pertaining to rent, additional rent and sales/percentage rent reporting and identify issues/propose amendments, as requested by Legal and Real Estate departments.
  • Provide rental information to facilitate preparation of annual budgets to FP&A.
  • Collaborate with Legal and Real Estate Departments to process, review and approve all invoices to landlords for tenant allowances including monitoring collections.
  • Monitor initial set-up of new locations in MS NAV in Store and Location cards. System Administrator for the Lease Administration software (CoStar).

Job Specifications:

Education & Experience:

  • Post-secondary business or accounting degree
  • Experience in training, coaching, motivating and supporting a team
  • 3 - 5 years' experience in a lease administration environment
  • 3 – 5 years' experience with lease administration software including rent roll processing

Competencies

  • Excellent verbal and written communication skills Negotiation skills as they relate to landlord matters Thorough understanding of all aspects of lease accounting
  • MS Office Suite including Word, Outlook, Excel, PowerPoint, and Adobe Pro

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