This is a hybrid role based out of Malvern, PA (3 days in office)
CubeSmart is currently seeking a Lease Accountant to join the Accounting team at our corporate office in Malvern, PA. The Lease Accountant will be responsible for reading, reviewing, and interpreting commercial lease agreements, including amendments and subleases, and evaluating the financial impact to the Company under ASC 842 and/or other relevant US GAA.
Who we are:
At CubeSmart, we’re intentional about culture. You can experience it everywhere from our mission statement of “genuine care” to our “It’s What’s Inside That Counts” tagline to calling each other “teammates” rather than employees. This spirit fosters a fun and collaborative environment that has resulted in our rapid growth and being recognized amongst the top in our industry.
CubeSmart’s award-winning team is made up of people who genuinely care. Teammates care about our customers and the life events and/or business needs they are facing. Teammates are passionate, responsible and understanding. The CubeSmart team is made up of people who have a can-do attitude, are committed to their own success and the success of the company, and lead by example.
If this sounds like a team and culture that matches your personal values and motivations, we want to hear from you.
Responsibilities
Reporting to the Director of Corporate Accounting, this role requires an analytical and organized thinker with a thorough understanding of generally accepted accounting principles (“US GAAP”), specifically Accounting Standards Codification (“ASC”) Topic 842, and accounting for commercial real estate lease agreements. The ideal candidate will have a background in lease accounting and/or experience working within the accounting function at a real estate company. Additionally, this individual will have strong problem-solving skills, demonstrate attention to detail, have solid interpersonal and communication abilities, and recognize a sense of ownership for the role.
Primary responsibilities include:
- Reading, reviewing, and interpreting commercial lease agreements, including amendments and subleases, and evaluating the financial impact to the Company under ASC 842 and/or other relevant US GAAP;
- Preparing and/or reviewing lease abstracts, ASC 842 checklists, straight-line rent schedules and other documentation that adequately support the Company’s accounting treatment of its commercial lease agreements
- Supporting and collaborating with the lease administration function, including tracking and maintaining critical dates, reviewing tenant ledgers, assisting with tenant billing and responding to inquiries
- Assisting with calculations and reconciliations related to operating expense reimbursements, including but not limited to, common area maintenance, real estate taxes, utilities and insurance
- Performing calculations in accordance with lease terms related to CPI-based rent, percentage rent and other non-standard and/or complex lease provisions
- Assisting with maintaining the corporate general ledger in accordance with US GAAP, particularly as it relates to the Company’s commercial lease agreements, and preparing/reviewing journal entries and general ledger account analyses/reconciliations
- Maintaining compliance with internal controls over financial reporting in accordance with SOX 404 standards
- Interacting and coordinating with personnel throughout the Company and serving as the primary point of contact for commercial lease accounting inquiries;
- Researching and documenting the analysis of new accounting and reporting requirements as needed
- Performing special projects as needed
Qualifications
- Bachelors degree in accounting
- 3+ years of lease accounting experience, public accounting and/or real estate experience preferred
- Strong technical accounting skills
- Exceptional organizational skills
- Effective verbal and written communication skills
- Ability to continuously exhibit attention to detail
- Problem solving and analytical skills are essential
- Ability to work in a fast-paced, collaborative, and deadline driven environment
- Strong proficiency with accounting and lease administration software, preferably MRI
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We are an Equal Opportunity Employer, Minority/Female/Veteran/Individuals with Disabilities/Sexual Orientation/Gender Identity.
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