Lease Compliance Specialist

Job Title

Lease Compliance Specialist

The Lease Compliance Specialist supports the administration of the company's real estate lease portfolio by ensuring accurate rent payments, reconciliations, and compliance with lease terms. This role maintains lease data systems, abstracts and audits lease information, and partners with cross-functional teams to support financial reporting and process improvements. The Leasing Specialist also serves as a key contact for landlords and internal stakeholders, resolving payment issues and ensuring timely, accurate communication.

What will you do?

Payments Management and Collections

• Enter payments and process monthly rent roll for Advance Auto Parts and its subsidiaries, including but not limited to change approval process, landlord updates, rent changes and updates, CPI and FMV rent adjustments, rent holds, and lease expirations, terminations, and purchases to ensure rent and other payments are paid and/or stopped timely and accurately.
• Validates and reconciles rent payment creation across systems to ensure that payments were properly created. Maintains validation and reconciliation documents for auditors and in accordance with compliance documentation.
• Works with cross functional teams to implement new portfolios (integration requirements and terms), and to enhance processes and compliance documentation to manage payables and receivables as required to support correct GL entries.
• Analyze property reconciliations from landlords and perform accurate and detailed reconciliations of accounts to ensure compliance with lease terms. Processes manual payments of charges or credit adjustments based on account reconciliations.
• Prepare monthly, quarterly, and annual sales reporting requirements and percentage rent payments.
• Process and maintain landlord/vendor data, monthly escrow payments, payments and receivables from Landlord reimbursements, tenant improvement allowances, subtenant receivables.

Data and Records Management and Abstraction

• Abstracts, updates and maintains lease and other related information in the database to ensure complete and accurate lease information for use by Advance and to establish tracking of dates requiring administrative action such as option renewals and lease expiration dates, expense schedules, and other critical lease information and requirements.
• Develop and monitor processes for records management, including database and paper files and creates and maintains procedures for ensuring data quality. Develop and conduct audits to ensure quality control of leases, lease compliance, and records.
• Coordinates with other users how data is used to optimize data collection processes and coordinates with other departments input of specific information into the database. Analyze source data to understand its use across Real Estate and the Company. Communicate with various teams to resolve data issues and inconsistencies.
• Validate abstraction of all Lease related data. Audits Lease system data and reports to determine the effectiveness of internal controls and the level of compliance with documents and applicable procedures, policies, and regulations.
• Analyzes and interprets Lease Agreements and their ancillary documents to ensure proper application/compliance regarding billings and payments and disputes expenses when necessary and tracks savings when appropriate.
• Reviews the effectiveness of existing internal controls and recommends improvements while working to build consensus among various entities as related to data collection.
• Assist in the development and use of templates, forms and reports to support stakeholder information requirements.
• Resolve data attribute conflicts in a timely manner.
• Maintain an ownership approach to ensure that accurate data information is collected and disseminated in a timely and efficient manner.
• Identify business critical data elements that are missing and determine best approach to obtain missing information. Tests and corrects errors, refines changes to electronic data. Makes suggestions relating to data and coordinates with other departments input of specific information into the database.
• Maintenance of lease and other related information in the database to ensure complete and accurate lease information for use by Advance.

Landlord, Tenant & Community Relations

• Coordinate timely response to all landlord inquiries, payment notices, and default letters relating to rent payments and resolve in a timely manner in accordance with management guidelines.
• Work with landlords to resolve discrepancies and conflicts relating to rent payments, rent credits, and damages owed.
• Communicates directly with internal contacts including, but not limited to, Legal Counsel, Lease and Property Accounting, Accounts Payable, Real Estate, Construction, and Field Team Members among others.
• Communicates directly with external contacts including, but not limited to, landlords, property managers, attorneys, accounting departments regarding payments and general…