ABOUT CIM GROUP:
CIM is a community-focused real estate and infrastructure owner, operator, lender, and developer. Our team of experts works together to identify and create value in real assets, benefiting the communities in which we invest. Back in 1994, our three founders focused on projects in Southern California neighborhoods. Today, we are a diverse team of 1,000+ employees with projects across the Americas. Our projects have delivered jobs; created comfortable places to live, work, and relax; and provided necessary and sustainable infrastructure. Our focus on enhancing communities is unwavering, and we strive to make an even greater impact in the years to come. Join us and make an impact today!
POSITION PURPOSE:
This position is responsible for the managing all tenant recoveries activities for commercial properties. Key duties include calculating estimated CAM, Tax and Insurance, and other charges, conducting annual reconciliations, budgeting the recovery income, calculating monthly escrows and administering quarterly CAM accruals.
ESSENTIAL FUNCTIONS:
- Analyze and reconcile CAM expenses including Common Area Maintenance, Tax, Insurance and other charges annually, ensuring accuracy and compliance with lease agreements.
- Collaborate closely with Lease Administration, Property Accounting and Property Management to ensure accurate and timely CAM reconciliation and estimate calculations.
- Review the lease setups in Yardi, with Lease Admin and third-party lease administrator to ensure accuracy.
- Maintain supporting schedules and related files necessary to facilitate system generated CAM calculations and estimated billings.
- Facilitate and support the setup and deployment of a new CAM reconciliation model in Recoveries Module in Yardi Voyager, including transitions for CAM reconciliation setups.
- Establish the budget for CAM and other recoverable income, ensuring the expenses align with budgeted expenses, make necessary adjustments and providing the forecasts within the budget scope.
- Calculate monthly CAM escrow estimates for future years based on historical billings, contractual obligations and projected expenses.
- Perform key control activities and provide audit support associated with all CAM related charges.
- Provide detailed breakdowns and explanations of CAM charges to tenants, addressing any inquiries or disputes in timely and professional manner.
- Provide financial reports related to CAM charges, including variance analysis, CIE, actuals vs budget comparisons and expense tracking and ad-hoc qualitative and quantitative analysis or reporting requests.
- Audit and verify expenses related to CAM, Utilities, Insurance, Taxes and other operating costs to ensure accuracy in CAM billings.
- Ensure the recoverable CAM expenses are accurately allocated to tenants in line with lease agreements and within required deadline.
- Identify and recommend improvements to CAM processes, procedures and billing to ensure efficiency and accuracy.
SUPERVISORY RESPONSIBILITIES
EDUCATION/EXPERIENCE REQUIREMENTS: (including certification, licenses, etc.)
- 2-3 years’ experience in real estate accounting or financial analysis, with a focus on CAM charges in a commercial asset setting.
- Experience in Yardi Voyager or comparable property management software.
- Prior experience with Triple Net Leasing, Gross Lease, Base Year Tenants.
- Proficient in Microsoft Office, specifically Excel and Word.
- Ability to review and interpret lease language.
- Demonstrated knowledge of property accounting and CAM principles.
- Ability to operate standard office equipment.
KNOWLEDGE, SKILLS AND ABILITIES:
- Ability to read, analyze and interpret complex agreements.
- Strong written and verbal communication skills.
- Ability to read and comprehend complex instructions, correspondence and memos.
- Ability to effectively present information to customers, clients and other employees of the organization.
- Excellent attention to detail and analytical skills.
- Ability to manage deadlines, work under pressure and resolve tenant disputes.
- Excellent teamwork skills, with the ability to collaborate effectively across departments and contribute to group initiatives and special projects.
- Strong work ethic, a high level of integrity and the desire to take initiative.
- Ability to apply common-sense understanding to follow instructions and solve practical problems.
- Experience in budget processes in commercial real estate field is a plus.
PERFORMANCE METRICS:
- Accuracy and quality of the work produced.
- Timeliness in delivering completed tasks and projects.
- Feedback from clients, peers, customers and other relevant stakeholders on the individual’s effectiveness.
- Contribution in the team and collaborative efforts.