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The Lease Revenue Department is responsible for the complete, accurate and timely billing of all revenue from the various lease documents of the Company. In order to ensure this objective is met, all lease and lease related documents are reviewed and processed on a daily basis, followed by validation and approval.
The role of this Lease Validator/Lease Revenue Analyst will focus on the timely and accurate completion of document validation. The role is critical due to the impact on the revenue stream but also due to the reliance of lease and lease related document data by others to facilitate subsequent business processes.
Essential Job Functions:
•Primary resource for the validation of work done by Lease Revenue Analysts, including initial document entry and subsequent lease edits.
•Compare written language from lease documents to Yardi Voyager to ensure the information entered in Voyager matches the lease. Areas of focus include:
- Dates: term start and end dates, delivery dates, move-in date, sign date
- Unit: Name and square footage
- Rent: PSF amounts, increase method, billing frequency, charge code, proration method, holdover %
- Recovery Estimates: charge codes for CAM, Taxes and Utilities, psf amounts, increase method, billing frequency, proration method
- Retail (% rent): period, billing frequency, reporting frequency, lease year month end, reporting/invoicing # of days, proration method, breakpoint calculation (natural vs. artificial)
•For new leases, confirm Rent Commencement Date is calculated correctly if it is based on the delivery date + a number of days (i.e. 120 days)
•For amendments to existing leases, confirm correct Yardi amendment record is being used and confirm all necessary entries have been entered by comparing Macerich Lease Synopsis Report for the amendment (modification) vs. the Macerich Lease Synopsis Report for the original lease
•Includes validation of Termination amendments either by document or by close date process initiated by Property Managers
•Use Macerich Lease Synopsis Report and/or Excel in comparison of Lease to Voyager to help confirm data and amounts are entered correctly
•Utilize validation workflow to either return a lease back to the analyst for corrections or send to a Manager for approval and Activation.
•Answer questions about lease interpretation from Lease Revenue Analysts or others in the department.
Requirements and Qualifications:
•Bachelor’s degree with a preference for legal, accounting or business degree preferred but not required.
•Minimum 3 years legal, accounting/financial or lease administration experience in real estate with a strong preference for regional mall experience
•Previous document validation or audit experience strongly preferred.
•Ability to comprehend, interpret and apply complex lease provisions.
•Basic understanding of accounting principles and accrual accounting.
•Knowledge of Yardi Voyager a plus
•Intermediate knowledge of Microsoft Office including Word, Excel, Power Point and Outlook
•All applicants must be able to perform the essential functions of the position, including corresponding core job requirements, with or without a reasonable accommodation. Reasonable accommodations may be made to enable individuals with disabilities (and others in accordance with applicable law) to perform the essential functions of the job, consistent with applicable laws and Company policy.