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Job Description

1.       Review the relevant legal documents

  • Lease
  • Amendment(s)
  • Extensions

2.       Get as much expense detail as possible

  • At a minimum, obtain the insurance and tax documents.  We can request the Landlord’s general ledger, but they may not supply it.
  • Compare year-over-year expenses
  • Request back-up for any expense that has had a large increase

3.       Review the gross leasable area (GLA) and our pro rata share (PRS)

  • What is the total leasable area of the center?
  • Exclude select Tenant’s square footage.  Anchor Tenant’s and other variety and specialty shops may be excluded from the GLA.  This will be defined in the lease.
  • If there is a large year over year variance in our GLA, we need to determine why prior to reconciling.

4.       Make sure our escrow payment history is reflected correctly.  If the amount we show we have paid throughout the year is different than what the Landlord is showing, we need to resolve that issue prior to completing the reconciliation.

5.       If we have a CAP on expenses, make sure the CAP is applied correctly.  The CAP is applied to controllable expenses only.  Uncontrollable expenses, such as utilities and snow removal, are not part of the CAP.

6.       Review monthly statements for any variances, such as increase or decreases in rents and operating expenses.

Lease abstracting:

  • Summarize specific, key information from a lease for review to show the deal maker where to look for in the lease for critical lease data, which include:
  • Commonly used lease clauses
  • Lease commencement and expiration dates
  • Monthly rent and operating expenses
  • Ensure critical dates are entered correctly for renewal options, early lease terminations.

Job Details

Job Channel:
Total Positions:
1 Post
Job Shift:
Second Shift (Afternoon)
Job Type:
Contract
Department:
Communication
Job Location:
Barki, Lahore, Pakistan
Gender:
Female
Age:
20 - 40 Years
Minimum Education:
Bachelor (14 Years)
Degree Title:
LLB, LLM
Career Level:
Entry Level
Minimum Experience:
1 Year (Legal Adviser or Lease Administrator)
Apply Before:
Jan 04, 2019
Posting Date:
Dec 04, 2018
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Future Now (Pvt) Limited

Information Technology · 301-600 employees - Lahore

Future Now Technologies is a leading provider of cutting edge technology solutions and services in Pakistan, Europe and North America. We believe that innovation, commitment to quality, and effective partnership with our clients is the foundation of success. Over the years we have engineered soluti ...Read More