Lease Administrator

Position summary: 

Responsible for ensuring all lease information is captured and input into the property management database, perform accounting and financial related functions pertaining to leases and provide support to the Lease Advisory Department.

Essential Duties and Responsibilities:

• Comprehend and abstract real estate lease documents, summarizing all key financial and non-financial related covenants.
• Ensure all abstracted lease data is captured and entered accurately into property management database including tenant billing information, lease dates, square footage, recurring charges, lease options, special stipulations, etc.
• Proactively track and manage critical dates within a lease.
• Interact and communicate professionally with other real estate team members regarding lease administration issues and/or database issues. 
• Review recovery clauses; calculate actual recovery expenses for each tenant and review caps, base years, gross-up language, pro-rata share definitions and non-standard exclusions. 
• Prepare monthly rent rolls and reconcile rent variances for Lease Advisory clients.
• Calculate monthly funding requests for owned and leased properties.
• Verify percentage rent calculations.
• Perform tenant lease audits and calculate retroactive billing adjustments when necessary.
• Coordinate with Property Managers for the timely submission of tenant acceptance or surrender forms and other lease updates.
• Notify Property Managers of expiring leases prior to running monthly lease expiration reports.
• Calculate and enter current and future monthly rental payment schedules for tenants.
• Review 3rd party owner/landlord rental statements and invoices for accuracy, including recurring rent and additional rent charges, tenant bill backs, and other miscellaneous charges.
• Reconcile annual tax, insurance and OPEX pass-through tenant charges.
• Analyze tenant accounts with outstanding balances and work with Property Managers, tenants and landlords to resolve billing disputes and prevent future discrepancies from occurring.
• Prepare twelve-month and five-year rental income/expense projections; Assist with annual budget including estimated tenant passthrough charges.
• Review and maintain Consumer Price Index tables and process annual CPI rent escalations. 
• Calculate leasing commissions and/or brokerage fees.
• Prepare rental expense allocations involving multiple cost centers and calculate prorated rent. 
• Ad-Hoc Financial Analysis involving leases (amortization schedules, early terminations, cost/benefit, etc.)
• Compose a variety of correspondence; review finished materials for completeness, accuracy, format, grammar, and appropriate English usage.
• Maintain lease files, abstracts, and support.
• Schedule electronic delivery of tenant invoices each month using PM database.
• Request W-9’s from 3rd party landlords and update vendor remit to addresses.
• Summarize 1099 rent payments for Lease Advisory clients.
• Update monthly changes to tenant improvement allowances.
• Request information from clients including new department codes, work order approvals, etc.
• Code and enter A/P invoices for Lease Advisory assignments.
• Prepare monthly financial reports.
• Participate in monthly client meetings.
• Help prepare annual business plans for the Lease Advisory department.

Knowledge, Skills, and Abilities:

• Proficient in Microsoft Office including Word, Excel, PowerPoint and Outlook.
• Excellent interpersonal and communication skills
• Ability to multi-task and consistently meet deadlines
• High level of accuracy
• Analytical Skills
• Attention to detail

Minimum Qualifications:

• Bachelor’s Degree from an accredited college or university, preferably in Accounting, Finance or Real Estate.
• 1-5 years of Commercial Lease Administration experience preferred.