Position Description: The Recoveries Accountant manages and oversees the reimbursement of all recoverable expenses (CAM, HVAC, utilities and property taxes) for a portfolio of properties. The accountant is responsible for complete accurate, and timely billings to tenants impounds and annual/periodic adjustment billings.
Essential Job Functions:
Determine annual rent roll impounds for reimbursement of recoverable expenses and make adjustments during the year as necessary.
Calculate and oversee annual/periodic tenant billings (adjustment billings) for reimbursement of recoverable expenses in accordance with lease agreements or other contracts.
Prepare annual recoveries budgets and quarterly recoveries projections.
Manage the input of lease or other contractual terms affecting the calculation and compliance with the reimbursement of recoverable expenses.
Ensure overall tenant/customer compliance with reimbursement of recoverable expense per applicable terms in lease agreements or other contracts.
Calculate the recovery rates for Property Accountant
Handle all tenant inquiries, disputes of billings for reimbursement of recoverable expenses.
Act as liaison for Accounts Receivable Associates with difficult billing and accounts receivable issues regarding reimbursement of recoverable expenses.
Assist Property Managers with all questions and issues related to reimbursement of recoverable expenses.
Provide support and ad hoc reports to other disciplines such as Leasing, Legal, Operations, and Development Accountants on various matters. (e.g. lease interpretation, review proposed CAM lease language, training, guidance on business decisions involving CAM, CAM depreciation)
Other duties as assigned.
Bachelor’s degree with a preference for Accounting or Business degree.
Accounting or financial experience in real estate preferred.
Basic understanding of accounting principles and accrual accounting.
Minimum 2 years experience in accounting position.
Ability to comprehend, interpret and apply complex financial lease provisions.
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.
About Macerich Management Company
Macerich, an S&P 500 company, is a fully integrated self-managed and self-administered real estate investment trust, which focuses on the acquisition, leasing, management, development and
redevelopment of regional malls throughout the United States (NYSE:MAC).