Lease Portfolio Analyst
- Role Title:
Lease Portfolio Analyst
- Job Advert Description
Clarks is looking for a Portfolio Analyst. The primary purpose of this role is to ensure financial and legal obligations are met for a portfolio of retail and corporate leases. This person will be responsible for accurately abstracting all lease documents, and calculating, reviewing, disputing and resolving all reconcilable expenses. They will also be responsible for collecting Tenant Improvement Allowances and will work closely with the retail finance team to ensure accurate and timely accruals for rental obligations. The ideal candidate will have the ability to read and interpret complex leases in a retail environment.
- Responsible for abstracting all new leases, renewals, renewal option exercises, termination option exercises and related legal documents into the Lease Management software, including, but not limited to, monitoring and updating all critical dates, managing all address and Landlord contact information, managing all recurring rental changes and accurately summarizing and interpreting where necessary all non-financial clauses.
- Responsible for preparing, scanning and indexing all leases and lease-related documents, including designated correspondence, into the Lease Management software, as well as managing the departmental filing system.
- Responsible for performing desktop audits, disputing when necessary all reconcilable expenses (occupancy costs) pursuant to individual lease language, including, but not limited to, common area maintenance (CAM), insurance, real estate taxes and utilities, and resolving all issues identified.
- Responsible for calculating Percentage Rent expenses pursuant to specific lease language, disputing and resolving any landlord billings.
- Responsible for calculating Consumer Price Index (CPI) increases pursuant to specific lease language, disputing and resolving any landlord billings.
- Responsible for managing the Tenant Improvement Allowance collection process, including invoicing landlords timely in accordance with lease requirements.
- Responsible for securing rent savings by auditing shopping center co-tenancy levels and failures.
- Responsible for ensuring Certificates of Insurance are in compliance with lease requirements in a timely manner.
- Assists the Director of Portfolio Management with special projects, including, but not limited to, portfolio reviews and ad hoc report design and outputs.
- Bachelor's degree in a related field (business, legal studies, accounting)
- Immediate to advance skills in Microsoft Excel and Word
- Excellent oral and written communication skills, including dispute resolution
- Demonstrated ability to read and interpret complex lease language
- Experience in the retail industry preferred
- 5+ years experience in either commercial real estate, legal or lease management/accounting or any related setting
- Must have demonstrated experience in lease abstraction and performing desktop audits
- Excellent time management, organization and attention to detail