Lease Administrator

Summary

Join our team as a Lease Administrator and provide comprehensive support to the Account Manager in managing all aspects of lease administration services for our real estate clients. You will be responsible for lease administration, database management, accounts receivable, rent preparation, and audit services, ensuring compliance with operational standards and KPIs. This role involves managing client portfolios, abstracting lease documents, maintaining accurate lease records, and processing various financial transactions. You will also participate in client meetings, serve as a point of contact for lease administration concerns, and contribute to process improvement initiatives. The position requires a combination of office and remote work, with occasional travel.

Requirements

• Bachelor’s degree in related field preferred
• 2+ years of commercial lease administration, property management or property accounting experience
• Understanding and comprehension of lease language related to operating and audit provisions

Responsibilities

• Participate in the day-to-day management of the lease administration for client real estate and equipment portfolios with special attention to account activities, vendor management, landlord issues, invoicing, and any other lease administration matters
• Abstract lease amendments, sublease agreements, renewals and extensions, and ancillary real estate documents
• Provide database management support and validate data integrity and completeness
• Ensure lease records contain accurate, up-to-date details for the timely and correct payment of rent and other financial obligations
• Maintain database with key information, including gross sales, landlord contacts and lease payments
• Assist with monthly rent process and update annual recurring rent estimates in accordance with the terms of the lease
• Review monthly rent statements and invoices from landlord and enter one-time expenses, including but not limited to, percent rent, common area maintenance, insurance, real estate tax, utilities and other rebillable expenses
• Apply any receivables associated with sublease tenants within lease administration database
• Perform desk-top audit of year end expenses in compliance with reconciliation requirements in the lease documents. Actively track and identify any potential cost savings or discrepancies
• Enter CPI or other rent escalations and amortization schedules for capital improvement repairs. Ensure compliance with landlord and tenant obligations and validate the terms are in-line with the lease documents
• Verify calculation of base year expenses and any expense cap or stop identified in the lease documents
• Review and validate the calculation of tenant pro-rata share and expense gross-ups
• Process certificate of insurance, estoppel and SNDA requests
• Execute and maintain current processes and procedures. Update client playbook accordingly
• Contribute to developing and recommending best practices to continually improve and streamline lease administration processes
• Participate in client meetings involving internal stakeholders, as necessary
• Serve as second level point of contact for any lease administration concerns
• Maintain a strong working relationship with client. Participate in monthly meetings with account manager and client to review ongoing lease administration operations and tasks

Preferred Qualifications

• Prior experience with commercial leases and lease administration/lease accounting software helpful
• Strong organization and analytical skills
• Excellent written, verbal, and interpersonal communication skills
• Exceptional time management skills, and able to problem solve creatively and resourcefully
• Strong proficiency with MS Office, Adobe, SharePoint, and similar programs
• Understanding and comprehension of commercial real estate leases, knowledge of operating and audit provisions in real estate leases
• Effectively support more than one account manager or client account simultaneously and successfully
• Ability to work independently or as part of a team
• Accept new challenges and opportunities without difficulty
• Pro-active, motivated, and diligent

Benefits

• This role requires someone to work inside the office or remote
• Travel up to 10% may be required