Overview:
The Staff, Lease Administration Analyst role requires a thorough understanding of lease documents as well as integrating lease documents on behalf of The RMR Group Inc. and its subsidiaries, three publicly traded affiliated entities and a privately held fund, into a centralized database which is the foundation of reporting analysis utilized by the broader organization. This role requires the candidate to accurately discern and abstract lease documents, as well as ensuring the financial terms of the deal are accurately represented in Yardi, the system of record, to ensure accurate reporting for the broader organization. This role requires close coordination with various business functions of Accounting, Asset Management, Asset Services and Legal departments.
Responsibilities:
- Integrate Executed Deals received and incorporate vital data within the Yardi application.
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Abstract critical lease terms, including recovery clauses, for new Leases, Lease Amendments, Lease Terminations, Assignments and other lease documents within Yardi.
- Review and approve of lease abstractions processed by third-party for Executed Deals.
- Abstractions must provide a heightened focus on properly capturing Revenue Recognition items and Encumbrance data to ensure effective reporting.
- Review and approve of lease abstractions processed by third-party for Acquisition related deals.
- Actively assess the impact of Revenue Recognition items which impact Straight-Line Rent Calculations. Collaborate and discuss Revenue Recognition items with Accounting Manager and Manager, Lease Administration to ensure compliance with established SOX 404 Narratives.
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Maintain open communication with Real Estate Services regarding the building square footage modifications, unit changes, lease document status, move-in/out forms, major tenant information, and other open portfolio issues.
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Work with Real Estate Services monthly to identify tenants in Holdover status.
- Create and execute the approval process and posting of monthly Recurring Charges, as well as any miscellaneous billings/adjustments associated with Recurring Charges.
- Calculate Consumer Price Index (CPI) Adjustments as they become due on a monthly basis.
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Coordinate and process reconciliation of accounts which may have outstanding A/R issues (Government CPI for example).
- Assist with the calculation and booking of Percentage Rent and Sub-Rent Receivable Income, when applicable.
- Work with Records Management Administrators to resolve discrepancies relating to tenant lease files to ensure documents are properly reflected in the Digital Lease Library.
- Assist with new acquisitions by setting up core Tenant information in Yardi.
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Assist with capital recycling efforts as they arise by supporting the team with the Estoppel Management process.
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Assist with the integration of new annual escrows for Operating Expenses and Taxes. Maintain Recovery Clause data and accurate Tenant base amount information within Yardi and the Excel based Templates in Progress on a daily basis throughout the year.
- Discuss lease document status, questions and/or open issues with the Manager and follow up with Real Estate Services, Asset Management or Accounting as the need arises.
- As part of the monthly close process, assist with reconciliation of Yardi and Executed deals in RMR Reporting.
- Perform special projects as needed, such as assist with internal and external audit requests, and provide support for the Accounting, Legal, Real Estate Services and Asset Management departments.
Qualifications:
- Bachelor’s degree
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Proficiency with accounting software package (Yardi) preferred. Proficiency with Excel and other Microsoft applications.
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This position requires keen attention to detail, self-motivation, flexibility, a solution mindset and excellent organizational and interpersonal skills.
- Exceptional verbal and written communication skills are required.
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Overall knowledge and interest in the commercial real estate industry is critical to success in this position. Working knowledge of leases is a plus.
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3+ years of commercial real estate lease administration experience, knowledge of standard and non-standard lease components. Ability to interpret complex retail and commercial lease language and an understanding of the accounting requirements of leases is essential.
- Ability to work in a fast-paced, collaborative and results driven environment with the ability to manage priorities and meet deadlines.
Total Rewards:
The RMR Group offers an extensive total rewards package to ensure that your benefits align with your needs. Employees who work at least 21 hours per week are eligible to participate in The RMR Group’s benefits plans, including:
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Health Insurance
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Dental Insurance
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Vision Insurance
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Life & Disability Insurance
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Health Savings Account (HSA) & Flexible Spending Plans (FSA)
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401(k) Plan with Employer Match
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Holidays, Vacation & Sick Time
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Parental Leave
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Tuition Assistance
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Matching Gift Program
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Wide Array of Voluntary, Employee-Paid Benefits to choose from including Critical Illness & Accident Insurance, Identity Theft Protection & Pet Insurance
The estimated base compensation range for this position is $65,000 to $85,000 per year. RMR considers several components including an individual's skills, qualifications, experience, internal equity, and market data.
Company Overview:
The RMR Group (Nasdaq: RMR) is a leading U.S. alternative asset management company, unique for its focus on commercial real estate (CRE) and related businesses. RMR’s vertical integration is strengthened by nearly 900 real estate professionals in more than 30 offices nationwide who manage approximately $40 billion in assets under management and leverage more than 35 years of institutional experience in buying, selling, financing and operating CRE. RMR benefits from a scalable platform, a deep and experienced management team and a diversity of real estate strategies across its clients. RMR has been recognized by The Boston Globe as a “Top Place to Work”, by the Environmental Protection Agency (EPA) as an “ENERGY STAR Partner of the Year” and ranked by the Building Owners and Managers Association (BOMA) as having one of the highest number of BOMA 360 designated properties in its portfolio. RMR is headquartered in Newton, MA and was founded in 1986.
RMR’s mission is to create long term value for our clients by managing their investments and assets “like we own it” – an approach that consistently and repeatedly generates opportunities for all our employees, investors and stakeholders. We are guided by six core values:
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Integrity at Our Core.
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Perform Passionately and Effectively.
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Inspired Thinking.
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Like We Own It.
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Power of We.
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Mutual Respect.
Visit our website to learn more about what makes The RMR Group a rewarding place to build a career.
Follow RMR on LinkedIn and Instagram @thermrgroup.
The RMR Group is an equal opportunity employer. Qualified applications will receive consideration for employment without regard to race, color, religion, sex, sexual orientation, gender identity, national origin, disability or protected veteran status. For our EEO Policy Statement, please click here. If you’d like more information on your EEO rights under the law, please click here.
