Lease Administrator - Future Opportunities

SUMMARY

The Lease Administrator is responsible for abstracting key information from lease agreements, entering and maintaining the integrity of lease data within the lease management database as well as collecting and paying monthly rental payments on behalf of landlords and tenants.

KEY DUTIES & RESPONSIBILITIES

Lease Abstraction

• Reviews lease agreements and abstracts key information including but not limited to lease provisions, clauses, options and critical dates, property information (i.e. square footage), business, legal and financial agreements and obligations, terms and conditions.


• Enters and maintains lease agreement information within lease management database.  Responsible for data integrity of lease information. 

Rent Payment Processing

• Reviews and validates landlord invoices to ensure compliance with the lease.


• Processes monthly rent payments to the landlord and ad hoc payments on behalf of the client. 


• Prepares monthly rent roll/rent change report, makes adjustments to rent information and issue retroactive payments to reflect changes in rent including but not limited to operating costs, base rent, realty taxes etc.


• Prepares and provides reports to managers and/or clients.

Additional Rent Review

• Conducts review of landlord annual escalations (operating costs budget increases (i.e. grounds maintenance cost, realty taxes ie “additional rent”) proposed by the landlord.  Ensure the charges are in accordance with the lease agreement. Compares forecast against historical information to review reasonableness of budget increase. Verifies reasons for proposed budget increases and requests for supporting documentations from the landlord where required.


• Conducts review of landlord year end statements for t actual operating costs and realty taxes (perform desk top audit). Requests supporting documentation from the landlord on variances and charges not in compliance with the lease.


• Provides complete package for manager’s review.

Lease Management

• Provides non-legal lease interpretation on lease clauses to client, FM & Project Team, Internal and External Transaction Team.


• Reviews and recommends estoppels certificates for approval.


• Tracks and reviews tenant insurance certificates.


• Interacts with FM & Project Team on operational matters.


• Landlord/Tenant relationship management.


• Critical Date management (ensure all tenant critical dates are tracked and managed).


• Generates reports as required such as KP1, Critical dates, options to terminate. 


• Provides due diligence on landlord/tenant change of ownership.


• Percentage rent and CPI management.


• Prepares lease budgets and forecasts on a monthly/yearly basis.


• Reconciles tenant/landlord accounts to ensure accurate billings/payments per the lease agreement.

Additional Lease Management 

• Provides support to multiple client lease management portfolios.


• Works with Lease Administration Director to improve and enhances existing processes and reporting.


• Works with internal Transactions Management, Facilities Management and finance groups to provide all necessary lease information as required.
   

KNOWLEDGE & SKILLS

• Community college diploma preferably in accounting, business administration or law clerk studies


• 3 to 5 years of commercial lease abstraction or property administration work experience.


• Knowledge and experience with commercial real estate lease agreements.


• Prior experience with lease management systems.


• Ability to interpret and abstract lease information.


• Ability to process volumes of data requiring strong attention to detail and accuracy.


• Proficient with MS Excel (PIVOT tables, vlookups, shortcuts etc.) and ability to learn new management information systems quickly.

Licenses and/or Professional Accreditation

• Real Property Administrator Designation, an asset.


• Facility Management Administrator Designation, an asset.


• Bilingual is an asset.

This is a regular, full-time position with a salary range of $52,864 - $66,080 per annum. The starting salary will be based on the successful candidate’s competencies, including but not limited to experience, education and performance related to this role.