Sr. Lease Compliance Admin
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Overview
Job Description
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 3rd 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 3rd 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
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Submit 10x as many applications with less effort than one manual application.
