Walmart Realty Specialist in Mississauga, Ontario
Audit, reconcile and process costs, accruals and payments related to Realty Tax, Business Tax, Common Area Maintenance and Rent. Manage all records related to leased and owned properties (including JV's) using SAP RE/FX system. Ensure information is up to date and coincides with latest lease agreement. Work with Dept. Manager, Store Operations, Walmart Facilities Maintenance, Landlords and Legal to find a resolution to any Landlord/Store related issues. Communicate with Department Manager and Director of any upcoming lease renewals and lease expiry dates for Wal-Mart leased locations, and participate in the lease renewal review process with Real Estate and Legal.
- Analyze realty tax and business tax invoices for leased and Walmart-owned locations to ensure the accuracy of the amounts claimed, challenging the landlords and municipalities/cities for disputed amounts and processing timely payments upon approval.
- Analyze CAM reconciliations and invoices from landlords to ensure CAM expenses are invoiced in accordance to the lease. Challenge landlords as appropriate to ensure that Walmart only pays its share of CAM expenses as per the terms of the lease agreement. Make recommendations for files to be sent to outside auditor for review.
- Collaborate with internal and external audit in their requests during audits and work with Real Estate Finance on CAM,Tax and Rent budgets and accruals.
- Maintain accurate lease renewal and lease expiry date records and update landlord & rent information database per Dept. Manager's directive, and notify Dept. Manager and Director well in advance of any upcoming notice dates so that proper action and documentation can be initiated.
- Ensure all required Landlord and intercompany rental payments are processed and accrued on a timely basis.
- Process initial landlords' requests for estoppel certificates and co-ordinate information required with Realty Manager, Walmart Facilities Maintenance, Legal, etc., prior to approval by Director of Realty and VP of Store Development.
- Maintain and update database on SAP RE/FX in respect of new stores, changes in existing stores due to expansions, changes in landlord information, rents due, CAM and Tax adjustments, etc and ensuring changes are supported by approved rental sheets and other documentation.
Collaborating with other internal departments as required, including compliance, construction, legal, operations, logistics, and facilities maintenance.
Minimum of 3-years’ experience in commercial property and lease administration and/or property management.
- Proficient in Lease Administration procedures, along with knowledge of standard legal documentation and accounting fundamentals, strong analytical skills.
- Knowledge of Municipal Tax Administration and assessment appeals. Real Estate Law knowledge is an asset.
- Very proficient in MS Office applications, specifically excel and PowerPoint, and applicable property management system, i.e. SAP.
- Effective communication and negotiation skills to influence landlords and municipalities' perspectives on Rent, CAM, Business Tax and Realty Tax related matters.