The Lease Administrator performs lease administration function to ensure real estate financial obligations are met and lease terms are in compliance. The desired candidate should have commercial lease experience.
Contract Duration: 5 months+
Required Skills & Experience - Bachelor's degree in business, accounting, real estate, or similar field
- 3 to 5 years of commercial real estate, lease administration and/or paralegal experience
- PeopleSoft and/or CoStar experience preferred (or comparable experience)
- Highly proficient computer skills, particularly Microsoft Office package
- Advanced understanding of complex real estate lease terminology
- Ability to maintain excellent organization skills and high level of attention to detail and accuracy
- Ability to work independently, think critically and demonstrate ownership of job tasks? Superior interpersonal skills, negotiating skills and problem solving ability.
- Excellent verbal/written communication skills? Strong team player with the ability to interact with all levels of staff within the company
What You Will Be Doing
Daily Responsibilities
- Draft lease documents (amendments, renewals, terminations), lease correspondence and notices to landlords; ensure that productive landlord and subtenant relationships are maintained in accordance with the lease and sublease agreements
- Review and analyze leases, amendments and other documents and provide recommendations to the Director-Real Estate and the Real Estate Managers to drive innovative solutions
- Interpret and analyze lease language and offer advice to the field with regards to their rights and duties for maintenance / repair or other affirmative obligations between Landlord and Tenant as well as offer expertise to all levels of staff within the company
- Audit documents such as invoices, statements, amendments to leases and other correspondence from the landlord, as well as data from other sources, to determine whether charges assessed by the landlord under a tenants lease are accurate.
- Negotiate reductions in expenses and reconcile accounts with the property manager or landlord by stated lease timeframes while maintaining a healthy line of communication
- Review and process lease documents (new leases, amendments, notices) for signature
- Abstract lease documents in Costar and maintain Costar by abstracting any changes or modifications, such as rental obligations, payment information, landlord and subtenant changes, etc.
- Manage all Landlords and other Lease vendors in Costar database to ensure precise records, including Landlord and vendor address and payment changes, ownership transfers and change in contact information, tracking for all necessary documents and determining if appropriate documentation has been received to make changes.
- Process requests for COIs, SNDAs and Estoppels
- Prepare and process monthly rent charges and payment request information. Ensure operating expense reconciliation and reimbursements are processed in a timely matter, and that payment deadlines are met.
- Tracks account receivable payment activity for all subleases
- Generate and distribute various real estate related reports to the Director-Real Estate and the Real Estate Managers (i.e. payment activities, expense savings, landlord expenses and other ad hoc reporting)
- Assist the Accounting Lease Supervisor in developing new process and procedures for the Lease Administration team
