Billing Specialist, Lease Administration

Realty Income, The Monthly Dividend Company®, one of four San Diego based S&P 500 companies dedicated to providing shareholders with dependable monthly income. Our company is structured as a REIT, and its monthly dividends are supported by the cash flow from over 6,000 real estate properties owned under long-term lease agreements with regional and national commercial tenants. To date, our company has declared over 600 consecutive common stock monthly dividends throughout its 50-year operating history and has continually increased the dividend since Realty Income's public listing in 1994 (NYSE: O). Our company attracts individuals who value integrity, perseverance, and teamwork. If you appreciate working in a professional environment that rewards employees based on merit and values a work-life balance, make sure to apply today!

As Realty Income’s Billing Specialist, Lease Administration, you will be responsible for timely billing of rental components in three main ways—including set rent increases, increases based upon the consumer price index (CPI), and percentage rents.  Your strong communication skills and eagerness to support several departments, will be chief in this role. Not only will you work alongside Rent Specialists, as well as the Lease Administration team, but will also support our Asset Management, Real Estate Operations, Legal and Finance/Accounting departments on rental income and collection matters.  Reporting to the Associate Vice President, Lease Administration, you will have the unique exposure to work across several departments of a growing organization!

Your Contribution to the Team Includes:

Accounting

• Responsible for ensuring timely, accurate billing of rental increases and percentage rent as defined within the leases with professional, effective communication of the same to tenants:
• Calculate rental increases based upon set increases and increases based in the consumer price index and accurately billing increases to ledgers.
• Calculate percentage rents based upon reported sales and accurately billing of percentage rents to ledgers.  Requires outreach to tenants as needed for missing gross sales related to percentage rent calculations.
• Following defined procedures, communicate billings to appropriate team members and other departments as required.
• Responsible to monitor tenant payments through review of accounts receivable report to ensure compliance.  Communicate status to appropriate team members.  Escalate as needed per defined procedures for non-compliance
• First point of contact for lease discrepancies as it relates to rent amounts, rental increases, and percentage rent amounts.  Escalate as needed per defined procedures for resolution.

Administration

• Abstract CPI figures on a monthly basis; input into Yardi timely and accurately for review and approval.
• Review and approve Yardi data, input as it relates to consumer price indeces, and percentage rent fields for property releases and new acquisitions.
• Resolve discrepancies in lease language and/or prior owner’s administration of the lease as it relates to rent increases and percentage rent.  Escalate to AVP, Lease Administration and Legal as needed for resolution.
• Manage and/or participate in rent related projects as needed.

Performs other duties as assigned.

What You’ll Need to be Successful

• Ability to identify information to clarify a situation, seek that information from appropriate, multiple sources and use skillful questioning to abstract the information.  Notices discrepancies and inconsistencies in available information.
• Carefully weighs the job responsibility priorities.  Can function effectively under pressure.
• Excellent attention-to-detail skills; ability to monitor own work and work of others for completeness and accuracy; ability to organize information and materials for others.
• Strong oral and written communication skills and presentation abilities, including the ability to communicate complex ideas to large groups and management.
• Ability to cultivate and maintain positive, working relationships.
• Excellent PC skills including Outlook, Word, Excel and YARDI.

In response to COVID-19, Realty Income has maintained our business operations and have open opportunities, yet made necessary adjustments to our hiring process. We are conducting all steps of the interview process in a virtual capacity. In response to California’s Stay at Home order and other states with similar provisions, our employees will continue to work remotely until these restrictions have been lifted and it is safe to work in an office again. Realty Income has endeavored to be adaptable and strategic in our capacity to maneuver in an unfamiliar situation, and we pride ourselves on our resilience. We immensely appreciate both your flexibility and consideration of Realty Income for employment.

To all recruitment agencies, Realty Income does not accept unsolicited agency resumes. Please do not forward resumes to our job’s alias, Realty Income employees, or any company location. Realty Income is not responsible for any fees related to unsolicited resumes.