Lease Accounting Manager

Since opening our first self-storage facility in 1972, Public Storage has grown to become the largest owner and operator of self-storage facilities in the world. With thousands of locations across the U.S. and Europe, and more than 170 million net rentable square feet of real estate, we're also one of the largest landlords.

We've been recognized as A Great Place to Work by the Great Place to Work Institute. And, our employees have also voted us as having Best Career Growth , ranked us in the Top 5% for Work Culture , and in the Top 10% for Diversity and Inclusion .

We're a member of the S&P 500 and FT Global 500 . Our common and preferred stocks trade on the New York Stock Exchange.

Public Storage is the nation’s leading self-storage provider, recognized for its iconic orange doors and commitment to delivering simple, reliable solutions to millions of customers across the country. We are expanding our creative team to enhance our consistent and engaging visual brand presence.

Job Description

The Lease Accounting Manager will be responsible for charging and collecting Tenant receipts as well as recording and paying Commercial payments. The Lease Accounting Manager is also responsible for all ASC 842 lease accounting and straight-line rent calculations.

JOB DUTIES/RESPONSIBILITIES:

• Manages and oversees all aspects of lease accounting for Tenant Leases, ensuring full compliance with accounting standards and internal policies.
• Guides offshore team to accurately post monthly tenant charges and apply daily cash receipts in Yardi, and ensures adherence to accounting timelines.
• Oversees offshore team on drafting leases, lease abstractions, and CAM reconciliations.
• Leads the preparation, review, and finalization of monthly ASC 842 lease calculations and reconciliations, ensuring that all transactions are accurately reflected and issues are resolved efficiently.
• Manages the preparation and review of monthly straight-line rent calculations and reconciliations, making decisions on adjustments when necessary and ensuring accurate reporting for financial statement purposes.
• Collaborates with the Commercial Lease business team to resolve any discrepancies in monthly lease charge schedules and identifies and implements improvements to streamline lease charge tracking and reporting processes.
• Prepares detailed accounting schedules for corporate audits, providing insights and addressing any complex inquiries related to lease accounting, accounting policies, or lease terms.
• Compiles and delivers special reports as requested by leadership, leveraging expertise to determine the most relevant and useful data for strategic decision-making.

Qualifications

• Bachelor’s degree in accounting, finance or related field
• CPA or similar professional certification preferred
• Strong Yardi experience required and proficiency in other accounting software and MS Excel
• Strong knowledge of GAAP lease accounting and ASC 842, straight-line rent accounting, and lease administration
• 3-5 years experience in lease accounting or a related field, with at least 2 years in a management role
• Strong general leader, accounts payable, accounts receivable, and systems knowledge
• Able to relate positively with a diverse contingency i.e., other divisions in within Company, employees, vendors, tenants
• Able to work with a minimum of supervision; must be highly motivated and self-directed
• Appropriately maintain financial and other confidential information
• Experience working with offshore teams or remote staff
• Excellent organizational and communication skills, with the ability to manage multiple tasks and deadlines

Additional Information

Workplace

• One of our values pillars is to work as OneTeam and we believe that there is no replacement for in-person collaboration but understand the value of some flexibility. Public Storage teammates are expected to work in the office five days each week with the option to take up to three flexible remote days per month.
  • Our office is based in Plano, east of I75 near E. Park Blvd, just North of Historic Downtown Plano.

Public Storage is an equal opportunity employer and embraces diversity. We do not discriminate on the basis of race, color, religion, sex, sexual orientation, gender identity, national origin, age, disability, or any other protected status. All qualified candidates are encouraged to apply.

REF3250I