Lease Administrator

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Lease Administrator

Position Overview:

Responsible for the review and abstraction of lease documents including interpretation to outside departments; Maintain a thorough tracking system of all lease and lease-related documentation. Ability to utilize Lease Administration software and work closely with other team members to ensure accuracy. Cross checking for quality control conducted routinely.

 

Essential functions:

  • SOLELY RESPONSIBLE for any modification of lease information in CM including charges, critical dates, sales breakpoints, contact information and all clauses (co-tenancy, kick-outs, exclusives, operating covenants, etc.) with the exception of tenant sales entered by Property Management.
  • Sets-up, maintains and is responsible for the data integrity of all physical and electronic lease files Process lease abstracts within 10 days of execution. Maintain the integrity of lease files by filing all lease admin related correspondence daily. Correspond with Tenants on lease-related issues as directed. Set up and maintain suites in MRI based on current lease status plans.
  • Resolve lease violation claims by Tenants through working with property management, leasing and accounting as needed. Conducts research of lease issues and other lease-related defaults by Landlord or Tenant, assesses proper course of action and escalates and/or consults with Legal and other department personnel to bring to resolution. Involve Operations, Leasing, Accounting and Maintenance as needed.
  • Assist in the interpretation of lease points for Finance, Construction, Leasing and Operations as requested.
  • Scan link documents in software system for use by several departments.
  • Receive executed tenant leases from Leasing:
  • Executed lease delivered to Lease Administration by Leasing.
  • Lease and other lease documents are scanned and saved on X:/drive and in MRI database.
  • Upon receipt of executed tenant leases, verify/abstract/confirm/modify lease data in Lease Flow for new leases and CM for renewed leases.
  • Transfer Lease Flow Opportunities to Commercial Management (CM) in MRI for executed leases with pending store openings or rent commencement dates.
  • Maintain all critical date information in Lease Flow upon receipt of executed lease including lease execution date, projected opening, actual opening, rent start, projected delivery date, actual delivery date, etc
  • Review, process, and track estoppels and Subordination Non Disturbance Agreements (SNDAs). Responsible for timely response to landlord.
  • Performs other related duties as assigned.
  • Prepare and deliver lease commencement letters, lease amendment invoices and other billing change invoices. Copy Accounting and Property Management.
  • Monitor terms of tenant and landlord termination options, extension options and report on pending action.

 

Knowledge, skills and experience required:

  • BS / BA degree preferred or related work experience. Minimum of 2 years’ experience in a high-volume lease administration department required. Experience in a legal office preferred. An emphasis in retail a plus
  • Knowledge of: Excel, Word, and Lease Administration Software (preferably Retail Lease).
  • Be able to work independently and perform essential work functions with or without reasonable accommodation, using a combination of skills and abilities
  • Ability to manage a large lease database, including inputting, editing and verifying information
  • Attention to detail and strong work ethic
  • Ability to understand and interpret commercial lease documents
  • Ability to communicate clearly both verbally and in writing
  • Experience in contract negotiation
  • Solid analytical and math skills
  • Effective at meeting tight deadlines and turning documents around quickly
  • Ability to write routine reports and legal correspondence in a concise and effective manner
  • Ability to converse on the telephone in a professional manner
  • Strong sense of customer service for internal and external clients
  • Ability to work effectively in a fast-paced work environment while managing various tasks at once
  • Must be a team player and able to take direction well. Ability to multi-task a must. Attention to detail and accuracy essential. Working knowledge of Crystal Reports
  • Sitting for extended periods of time;
  • Dexterity of hands and fingers to operate a computer keyboard;
  • Reaching overhead, above the shoulders and horizontally,
  • Bending at the waist, and kneeling or crouching to retrieve files from cabinets and shelves
  • Hearing and speaking to exchange information;
  • Seeing to read and assure accuracy of financial and records and reports

 

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