Accounts Officer
Accounts Officer
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Job Description
Reconciling year end accounts
Reconcile rent and escrow catchups
Review the relevant legal documents
Lease Agreements
Amendment(s)
Extensions
Renewals
Commencement letter
Get as much expense detail as possible
At a minimum obtain the insurance and tax documents and tenant ledger where required
Compare yearoveryear expenses
Request backup for any expense that has has a huge increase
Review the gross leasable area (GLA) and our pro rata share (PRS)
What is the total leasable area of the center
Exclude Anchor Tenant s square footage and other variety and specialty shops. This will be defined in the lease.
If there is a large year over year variance in our GLA we need to determine why prior to reconciling.
Make sure our escrow payment history is reflected correctly. If the amount we show we have paid throughout the year is different than what the Landlord is showing we need to resolve that issue prior to completing the reconciliation.
If we have a CAP on expenses make sure the CAP is applied correctly. The CAP is applied to controllable expenses only. Uncontrollable expenses such as utilities and snow removal are not part of the CAP.
Reviewing common area expenses with the lease and verifying Management/ Admin fee is charged per the lease
Verifying backups for insurance taxes and cam (where applicable)
Verifying prior year expenses
Review monthly statements for any variances such as increase or decreases in rents and operating expenses.
On average a resource work on 23 reconciliations per day
Knowledge of US commercial real estate will be a plus.
Requirements
Should be proficient in Excel MS Office.
Excellent English Communication Skills.
Good analytical skills
Objectivity Dependability Multitasking
integrity and honesty; flexible; resultsoriented; resourceful; relies on experience and judgment to plan and accomplish goals.
Employment Type
Full Time
