Lease accounting analyst

The Lease Accounting team is looking for a Lease Accounting Analyst in Beachwood, OH to manage and maintain lease agreements between landlords and tenants, ensuring all lease terms and conditions are accurately documented and adhered to. Each day the Analyst will track lease billings, monitor lease expiration dates, manage lease renewals, oversee calculation and billing of lease related charges, and resolve any issues that may arise regarding lease compliance. This Analyst plays a critical role in ensuring our tenant billings are accurate which results in keeping our AR balance and tenant disputes down and allows us to collect on tenant billings quicker.

To thrive in this role, we need an analytical and detailed-oriented Analyst with prior experience as a commercial lease administrator or paralegal with an understanding of basic real estate legal concepts related to retail leases. This position works a hybrid schedule in the Beachwood, OH corporate office 3 days a week (Tuesday and Wednesday required), and the option to work from home up to 2 days a week. During the initial 90-day onboarding period, we might encourage being onsite more than 3 days so you can get successfully oriented and trained in your new role.

The expected salary range for this position is between $45,000-55,000. Actual compensation will be based on factors such as scope and responsibilities of the position, candidate's work experience, education/training, job-related skills, internal peer equity, geographical and industry market data, and business considerations and other factors permitted by law.

To be successful in this role, you will need to:

• Review lease portfolio to ensure retail leases are in compliance with ASC 842 – Lease Accounting Standard (FASB).
• Administer and manage a portfolio of retail leases, ensuring accuracy and compliance with terms and conditions.
• Maintain up-to-date lease files within a centralized database, ensuring all documentation, critical dates and other lease related materials are accurately recorded and logically organized.
• Review and interpret lease agreements to facilitate precise tracking and comprehensive reporting.
• Collaborate with internal and external stakeholders to address inquiries, provide clarification on lease-related matters, and equitably resolve disputes and discrepancies.
• Upon the execution of lease documents within assigned portfolio, abstract material clauses such as critical dates and financial and performance obligations.
• Refine existing abstracted notes as necessary on an on-going basis.
• Oversee the calculation and billing (to the G/L) of all lease related charges and revise as necessary based on amendments and other documents. This includes Rent and Additional Rents, including not limited to Base Rent, Operating Expense Revenue (CAM, Real Estate Tax & Insurance, etc.), Percentage Rent, Overage Rent, CPI Adjustments, Co-Tenancy/Alternate Rents, and Direct Tenant Billings.
• Evaluate present and proposed tenancy conditions for designated portfolio and maintain on-going knowledge of various occupancy requirements and use restrictions.
• Conduct feasibility studies for prospective deals to identify and anticipate any potential violations.
• Collect, record, monitor and report gross sales amounts as provided by Tenants to maintain compliance with Sales Reporting and Percentage Rent requirements as outlined in lease agreements.
• Process adjustments to tenants’ accounts after researching lease language and reconciling billings by generating calculation support of findings in Excel.
• Works cross-functionally with business partners to resolve tenant disputes or other inquiries in a timely manner.

We are looking for an Analyst with:

• Knowledge of Commercial Real Estate Lease Structures (Retail preferred)
• Prior experience drafting leases and performing lease abstracts
• Problem-solving and analytical skills required, with the ability to interpret complex lease documents and identify key provisions
• Organizational skills and ability to multi-task; efficiently managing a large volume of lease documents and tracking critical dates
• Experience with Microsoft products, MRI, or other related real estate accounting and project management software

ABOUT US

SITE Centers is an owner and manager of retail real estate, with a premier portfolio of open-air shopping centers located in the most desirable locations across the United States. Headquartered outside of Cleveland in Beachwood, Ohio, we are a self-managed and self-administered REIT, publicly traded on the New York Stock Exchange under the ticker: SITC. We employ approximately 160 employees, with 130 hybrid workers in our corporate office, and the remainder of our staff based remotely across the country, including a regional office in Atlanta, Georgia.

SITE Centers is uniquely positioned within the industry, operating with the institutional foundation and corporate benefits program of a much larger company, yet with an employee count that allows us to embrace our creative, entrepreneurial spirit. This distinct combination allows us to foster a cohesive, cross-functional team that brings a diverse array of experiences and worldviews to our organization. We pride ourselves on fostering an inclusive work culture that is centered on valuing Fearlessness, Authenticity, Curiosity and Thoughtfulness. Collectively, these core values make up our Matters of FACT, the guiding principles that drive our day-to-day operations and reflect the code and behaviors that exist in our passionate, hardworking and dedicated team members.