Sr. Lease Compliance Admin

ABOUT THIS OPPORTUNITY

This role is responsible for the complete and accurate abstraction and set-up of property, lease, and loan documents across NNN’s portfolio. The ideal candidate will bring 3 years of commercial real estate and lease abstraction experience, along with strong expertise in reading and interpreting commercial real estate leases. They will monitor assigned tenants for ongoing compliance with lease terms, including rent payments, tenant financial reporting, and insurance requirements, and will also handle real estate tax reconciliations, rent escalation calculations, and CAM reconciliations as assigned.

KEY RESPONSIBILITIES

• Review of documentation including, but not limited to Lease Agreements/Amendments/Assignments, Loan Agreements, Development Agreements, Closing Statements, Appraisals, Environmental Reports, Commitment Letters, etc.
• Abstract, set-up and maintain property, lease and loan information in various systems
• Responsible for the billing and receipt of rent and other payments due under the terms of the lease and assist with the collection of past due receivables
• Prepare and send various communications to tenants, including monthly rent reminder letters and default notices as required
• Review and assist with procuring data as required by lease agreements:
  • Sales and financial information
  • Certificates of insurance
• Responsible for various facets of rent escalations for NNN’s tenants, as assigned:
  • Prepare and/or review CPI increase calculations and billings
  • Process sales figures, percentage rent calculations and billings
• Responsible for real estate tax reconciliations, as assigned:
  • Working closely with NNN’s tenants and NNN’s 3^rd party service provider ensuring timely payment
  • Quarterly budgeting, as well as the ongoing budget vs. actual performance
• Responsible for Common Area Maintenance (CAM) reconciliations, as assigned:
  • Prepare with appropriate documentation as required by the lease agreement
  • Prepare, analyze and process 3^rd party CAM reconciliations
• Work closely with other departments:
  • Accounting: lease billings, sales tax, accounts receivable and collection matters, quarterly budgeting for property level income, and other lease matters as necessary
  • Legal
  • Asset Management
• Maintain and update lease compliance procedures, guidelines and controls manual, as necessary
• Assist with periodic reporting and projects as needed

EDUCATION AND/OR EXPERIENCE

Bachelor’s degree from an accredited college or university and two plus years related experience preferred; or Associate degree from an accredited college or university and four plus years related experience; or equivalent combination of education and experience.

PREFERRED EXPERIENCE

• 3 years of commercial real estate and lease abstraction experience
• Experience reading and interpreting commercial real estate leases

Experience with Oracle E-Business Suite (A/R and Property Manager), Microsoft Office Suite, Power BI, - Ryan PROPERTYPOINT™ and CertFocus Vertikal a plus.