Lease Administrator/Property Administrator

Job Description

Job Description

Description:

The Lease Administrator is responsible for all aspects of a leased portfolio of outpatient clinics, home health administrative offices, and all other business line leases. The Lease Administrator will be responsible for all phases of hard and soft lease files for a leased portfolio, including reviewing and monitoring leases prior to execution and throughout the lease term, monitoring critical dates, and tracking maintenance requests. This individual is also responsible for transaction coordination, including site selection, document and contract processing, lease compliance review, lease accounting support, abstracting lease documentation information and providing administration services to client’s locations.

Essential Functions

• Abstract, import and maintain leases into Lease Administration Database (ProLease) which includes monitoring all key lease portfolio dates, such as possession, commencement, expiration and option renewals.
• Manage the payable functions for leased and owned properties; reviewing and processing rental expenses, such as operating costs, utilities, CAM and property taxes, to identify potential cost savings.
• Support brokerage team in evaluation of lease extension requirements, all phases of new site selection, or relocation requirements
• Under supervision of counsel when appropriate, review, draft and coordinate lease documents, estoppels, SNDAs, landlord consents, certificate of insurance, maintenance or construction contracts, waivers and correspondence
• Support clinic manager’s requests for maintenance and repairs; communicate help requests to the facilities management team
• Prepare and follow a continual audit schedule for all existing lease documents in the portfolio. Follow up with property management on any related action items.
• Prepare a rent increase report monthly and work with accounting to ensure that rent increases are fulfilled, operating expenses are up-to-date, accounts are current, no late fees are assessed, rent commencement dates are observed, and lease payments cease for terminations
• Compile necessary documentation for tenant improvement allowance requests
• Review leases to understand and communicate tenant responsibility at move in and move out
• Review and prepare for execution and distribution, leases and exhibits to proper parties.
• Ensure that all leases are compliant with client’s industry regulations
• Track certificates of insurance and maintain current certificates across the portfolio
• Conduct regular lease administration meetings, keeping the client informed of status on any building issues, renewals, new leases, and prepare agendas for all meetings
• Coordinate signage and construction plan approvals with landlords
• Maintain client’s digital and hard copies of all lease-related files and documents
• Update Lease Administration Database regularly with updated operating expense amounts, contact information, and key performance indicators of the location
• Read and correctly interpret lease terms
• Assist with necessary rent expense forecasting for budgeting on an annual basis
• Read, comment, and review new leases against a critical lease items checklist

Required:

• Bachelor’s degree or equivalent work experience
• Intermediate level proficiency with Microsoft Office, Word, and Excel
• Organized and task oriented

Preferred:

• Experience in any of the following fields preferred: Real Estate, Finance, Accounting, or Legal/Paralegal
• 3+ years of commercial real estate and lease abstraction experience preferred
• Experience reading commercial real estate leases
• Strong working knowledge of the Internet and Microsoft Office Applications, specifically Word, Excel, and PowerPoint