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Years of Experience
Date Last Verified
Lease Administrator RESPONSIBILITIES: Helps ARG meet its corporate remodel goals by reviewing lease consent requirements for approved remodel projects, and obtaining landlord and third party consents or if consent not received prior to construction start makes decision for construction team to move forward or not based on knowledge of, and relationship with Landlord. Ensure that ARG and Subtenant renewals and extensions are approved and exercised prior to deadlines to safeguard against losing a restaurant due to non-compliance of notice requirements which includes making the decision to request notice date extensions. Decides if non-material changes to documentation requested by third parties are acceptable. Determines the timing in which to follow up with document review in order to complete transaction prior to any deadlines. Accurately administer all rent adjustments, rent payments, percentage rent calculations, percentage rent payments, common area maintenance charges and other additional rent charges. Decides whether or not to continue discussion with Landlord in the instance of a discrepancy or to move forward with a mutually acceptable conclusion. Accurately administer all Accounts Receivable rent adjustments, percentage rents, common area maintenance charges and other additional rent charges pursuant to ARGâ€™s Sublease portfolio. Manage all Landlords and other Lease vendors in Costar database to ensure precise records, including Landlord and vendor address and payment changes, ownership transfers and change in contact information, tracking for all necessary documents and determining if appropriate documentation has been received to make changes. Responsible for tracking the receipt of all subtenant payments and administering late fee charges according to sublease provisions, or making the decision whether or not to asses charges based on their payment history. Maintain A/R tracking report and document storage system for receipt of all Subtenant payments. Provide lease interpretation and guidance to Real Estate, Accounting and Operations regarding lease terms and definitions. Lease Management point person for tax (Real Estate and Sales) and accounting (Property, Lease and Store); efficiently fielding all questions and inquiries and determines which department will best handle the same. Lease Management point person for problem solving and research involving Landlord inquiries for rent, property taxes, sales tax payments and all other financial matters. Determines what information to share with individuals outside of the company based on the request. Manage critical reporting data (i.e. P&Lâ€™s, Contingent Liability, quarterly and annual financial statements) utilized by internal and external sources to support ARGâ€™s lease compliance. Responsible for researching all payment rejections, check inquiries, void requests and landlord 1099 requests and determines what is needed to correct the issue. Administer the real property financing portfolio, including but not limited to, abstracting new financing, tracking expirations, payoffs, UCC terminations, and generating reports as needed. Responsible for maintaining record retention on behalf of Lease Management. Maintain excellent long-term relationships with external clients such as landlords and lenders as well as internal clients such as Lease Accounting, Fixed Assets, Real Estate Tax, Brand Accounting, Sales Tax, Accounts Receivables and Risk. Responsible for updating Sales Tax Department on CAM, Percentage Rent and Rent increases for Sublease units specific to Arizona and Florida to ensure compliance of state regulations. Accurate processing of monthly insurance certificate changes and determine what can/cannot be included on certificafe based on third party requests; track receipt of subtenantsâ€™ insurance certificates to meet critical renewal date and review for accuracy. Serve as Subtenant support contact for all financial obligations inquires. Lease Managementâ€™s lead on internal accounting department projects when needed; (i.e. Landlord EFT Conversions, A/P Tax ID compliance for Landlords, Oracle Vendor clean-up, etc.) Assist Vice President - Lease Management with special projects when needed. Maintain and use â€œTickle Fileâ€ daily. Determines when Lease Administration processes and procedures need to be updated.
Qualification and Experience
QUALIFICATIONS: 4 years of College Preferred College Degree or Paralegal Degree. 1-3 years of Lease Administration, Accounting, Business Administration or Legal Experience. Preferred: 2 - 4 years of Lease Administration Experience. Lease abstraction experience. Knowledge and understanding of lease financial requirements. Strong understanding of calculating rent adjustments including fixed, CPI, FMV, and other means of rent adjustments. Strong understanding of percentage rent calculations and reporting. Strong customer service attitude. Proficient in Microsoft Word, Outlook and Excel. Ability to thrive in a fast paced environment with constant changes Ability to multi-task many activities, projects and timelines Good organizational skills, attention to detail, and accuracy Self-starter with the ability to set priorities and goals and work to accomplish the goals A track record of building positive and respected relationships with team members and other functional departments Performance driven, results orientated with a strong work ethic Excellent interpersonal skills including oral & written communications with a customer service mentality. PREFERRED KNOWLEDGE, SKILLS OR ABILITIES: Experienced in review, understanding and abstracting of lease documents. Working knowledge of critical date tracking. Proficient in Word, Excel and Oracle.
Company infoHiring Coordinator