Job Description:
Job Summary:
The Commercial Lease Administrator (CLA) position requires a detail-oriented person who can balance a multi-faceted workload. The CLA will work closely with all members of the accounting team, property managers, and officers of the firm. The CLA is responsible for performing all required lease administration functions to ensure compliance with lease terms, management of legal issues, and tracking financial obligations for all lease documents
Overall Duties and Responsibilities:
Abstract and input all rental obligations and all other important lease information related to assigned commercial portfolio.
Review recovery clauses, set up recovery pools, calculate actual recovery expenses for each tenant, and review caps, base years, and non-standard exclusions.
Track, maintain, and communicate all expirations, option exercise dates, and other critical information to the assigned property manager.
Work with CM Administrator to identify rent payments, proper application of payments against open charges; ensure that all rent payments are deposited in the CM Administrator’s absence.
Coordinate with the property manager and accounting when processing any one-time or manual tenant charges in the system (non-cash adjustments, write-offs, concessions, and reversals).
Invoice monthly/quarterly/semi-annual/annual charge backs to tenants for water/sewer (including direct and 3rd party invoicing), HVAC O/T, service invoices, real estate taxes, BID taxes, vault taxes, insurance, and any other charges as specified by the lease.
Process monthly late fees, default notices, 5 day notices, suits for non-payment, and submissions for legal filings.
Generate and distribute monthly Aged Delinquency Reports and work with property managers to ensure client contact occurs and payments are received.
Coordinate with the property managers for the timely submission of tenant move-in or move-out forms and other lease updates prior to running the monthly rent roll and processing monthly rent charges.
Review rental statements and invoices for accuracy as well as for extra service charges with require verification against the lease.
Prepare and review annual tenant CAM, operating expense, tax, or insurance reimbursement estimates and reconciliations.
Prepare and review Consumer Price Index adjustments as provided for in commercial leases.
Ensure that all percentage rent or gross sales provisions of the leases are inputted into the system and relayed to the property managers and property accountants.
Ensure that all required tenant documents are current, accurate, and complete (Certificates of Insurance, Letters of Credit, guarantees, etc.) and communicate with property manager and tenants in order to obtain compliance.
Communicate with tenants and property managers on lease related aspects; perform research and prepare account reconciliations as needed.
Maintain the integrity of lease data file systems. Within the accounting system, maintain all critical documents, data, and critical data and clauses.
Management:
Develop a thorough understanding of the responsibilities, procedures and reporting deadline of direct report.
Accomplish required results by communicating job expectations, monitoring, and appraising job results, coaching, counseling, and disciplining direct report when required, and enforcing company policies and procedures standards.
Conduct performance evaluations of direct report to position department to prosper under a team oriented environment.
Strive to create a comprehensive, efficient lease administration process that will provide positive support to the property managers and accountants and ensure timely, accurate and complete information to management.
Other:
Serve as the system administrator Ensure overall set up and structure within the accounting system are performing as needed; monitor performance and output, recommend revisions/updates to system as needed.
Communicate with outsourced software provider on all commercial management module requirements/modifications, projects, and development needs.
Other duties as assigned by the Chief Financial Officer or other leaders of the Company.
Perform general copying, scanning, faxing, and filing duties as needed.
Job Qualifications:
Education: High School Diploma required, 4 year University Degree preferred
Experience:
3-4 years minimum commercial lease administration experience
Retail lease administration preferred but not required
Software:
Property management/accounting software, preferably MRI or Yardi
Proficient use of Microsoft Word, Excel, Outlook, and Powerpoint
Skills, Knowledge, and Personal Characteristics:
Excellent and demonstrable verbal and written communication skills
Excellent customer service skills
Excellent attention to detail and accuracy
Ability to prioritize, multi-task, and react quickly to issues and problems
Ability to work well under pressure and meet deadlines
Ability to identify and solve problems
Strong accountability and responsibility in all aspects of job
Ability to work independently or collaboratively as part of a team
Ability to handle confidential information discreetly and professionally
Willingness to take on additional responsibilities at any given time
Title: Lease Administrator
Department: Accounting
Employment Type: Full Time, Permanent.
Job Location: Working Remotely , New Delhi
Industry: KPO, Outsourcing/Offshoring
Employment Type: Full-time
Shift Time: EST/PST - US Timezone
