The department is responsible for all payments to landlords of rent, CAM and property taxes required under the leases for Pet Valu stores and corporate office/warehouse locations. The incumbent is assigned a portfolio of store and office/warehouse locations over which he/she has responsibility for all aspects of the lease, including:
- Overall day to day responsibility for administration of lease obligations for a portfolio of Pet Valu store locations within a geographic territory in Canada.
- Detailed review, abstracting and data entry into the lease management and administration system of all new leases, lease amendments, and lease extensions/renewals, for review and approval by the Director.
- Receipt, review and data entry into the lease management and administration system of all landlord CAM and property tax budgets, after comparison to prior year charges and validation with the landlord, where warranted.
- Desk audit of landlord reconciliation invoices for the leases within the assigned territory. Includes contact with the landlord or property manager to determine appropriateness of expenses and analysis of landlord invoices and supporting schedules by expense category comparing year to year variances, and the review of respective lease sections and calculation details for share of expenses. Ensure that invoices being held awaiting backup information from the landlord are reviewed and follow-up requests are made on a regular basis and escalated to the Director where necessary.
- Entry of all approved one - time payments to landlords into the lease management and administration system (CoStar)
- Preparation of offsetting Franchisee Rent and CAM/Property Tax invoices based on current payments to the landlord, and adjustments for final annual reconciliations.
- Reconcile the monthly rent payment export from the lease administration system, (ie. current monthly rents to prior month, and all adjustment invoices) and upload approved payment file to NAV system for processing of cheque and EFT payments by A/P.
- Preparation of all necessary one-time adjusting calculations for stores that are sold to or bought back from franchisees.
- Period-end financial rent reporting work including calculation of prepaid rent and CAM/Taxes .
- Maintain Leasehold Tenant Allowance schedules for Corporate, Franchise, Warehouse and Rent-free locations. Calculation of monthly amortization amounts, preparation of period-end financial entries for new corp./franchise, stores that are sold to or bought back from franchisees and amortization.
- Input and Maintain EZ Lease Lessee /Lessor for deferred rent calculations, prepare estimates and final deferred rent worksheets for renewals, expansions and new stores including period end financial entries.
- Prepare working papers for CAM and Tax refunds and tenant allowance cheques.
- Maintain and reconcile Leasehold Tenant Allowance Receivable schedule.
- Prepare Leasehold Allowance and Deferred Rent schedules for annual budget.
- Other tasks and projects assigned as required.
- A College Diploma with an emphasis on lease administration OR university degree in business, and working towards an accounting designation such as CPA or a designation in lease administration such as RPA preferred.
- Minimum 3 years work experience in a lease administration/accounting environment.
- Experience with CoStar and NAVII an asset.
- Ability to read and interpret leases
- Ability to perform complex CAM/TAX reconciliations
- Skilled in MS Excel for cost analyses
- Highly organized with ability to manage multiple priorities in a fast-paced and growing environment
- Strong oral and written communication skills with an assertive approach to problem-solving
- Ability to dig for information independently and look at both written and financial data with a critical eye