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Commercial Lease Administrator

Company: GRACO Real Estate Development, Inc.
Location: Lubbock
Posted on: June 22, 2022

Job Description:

The Lease Administrator is a key member of the Property Management team, interfacing with Property Managers, Transaction Managers, Tenants, and Vendors. This position reports to the Director of Property Management and must be able to work autonomously with the ability to prioritize a diverse workload while working productively in a fast-paced, collaborative environment.Candidates must have a strong understanding of complex commercial lease language, basic accounting principles, and policies and procedures as applies to property taxes, insurance, rent rolls, accounts receivable, and special projects. Must have strong organizational and excellent excel spreadsheet skills, be willing to handle a variety of clerical duties, be flexible yet thorough and possess the ability to manage multiple tasks efficiently. Will be lead team member responsible for tenant relations, portfolio administration, rent collections, database management and effective communication with tenants and others.Duties & Responsibilities

  • Oversee all lease files and data management to ensure organized and timely accessibility of all files required by various team members.
  • Review, record, and monitor critical lease requirements and tenant obligations; communicate with tenants to ensure timely payments and reporting.
  • Maintain lease expiration data and follow up with Leasing for signed lease renewals, amendments, assignments, etc.
  • Collaborate with Leasing and Property Management; identify and monitor lease options and critical dates such as renewals, terminations, and lease expirations through move-out.
  • Maintain real estate portfolio data to ensure accurate and up-to-date information.
  • Provide necessary guidance, forms, and other communications to new tenants.
  • Prepare Subordination Agreements and communicate with Lenders until final.
  • Prepare Estoppel Agreements for lenders, acquisitions/dispositions, and others as needed
  • Audit lease abstracts through careful review of legal documentation.
  • Establish and record tenant CAM pools, confirm prepaid rents, security deposits, and tenant improvement allowances.
  • Obtain and record tenant sales reports and work with accounting to calculate and bill percentage rents.
  • Prepare monthly A/R report, review and advise management of delinquent balances.
  • Audit tenant ledgers and resolve disputed charges with accounting and management assistance, when needed.
  • Work with management and accounting to audit operating expense billing and reconciliation to ensure accuracy. Forward annual reconciliation invoices and back-up documents to tenants.
  • Send tenant reminder notices for outstanding balances - explain and provide back-up for recoverable expenses, etc.
  • Generate and distribute monthly, quarterly and/or annual collection reports and other ad-hoc reports upon management request. Maintain suspense system for tracking key dates and tasks.
  • Work with Director of Property Management to design, prepare and distribute monthly, quarterly, year-end financial reports in a timely and accurate manner, using various software programs, such as Yardi Breeze, Excel, SharePoint, PowerPoint, Word, and other Microsoft Office apps.
  • Serve as member of the lease transition team as well as new third party management accounts, ensuring a quick and smooth transfer.
  • Provide Tenant move-in coordination, including monitoring opening status, Post Office box assignments and key delivery, coordinate tenant welcome, prepare and record tenant lease commencement.
  • Request, track, and collect certificates of insurance from tenants and vendors.
  • Record and distribute property tax appraisal notices and statements.
  • Serve as liaison between Landlord and Tenant regarding each party's compliance with all provisions of the lease.
  • Perform special projects and duties as assigned.Education
    • Bachelor's degree in business, real estate, finance, or accounting preferred
    • High school diploma requiredExperience/Skills/Knowledge
      • 2+ years of relevant experience in Accounting or Real Estate preferred
      • Proficient use of Microsoft Office applications, e.g., Excel, Word, and Outlook
      • Knowledge of Yardi is a plus
      • Strong written and verbal communication skills
      • Self-starter, well organized, ability to work with a large degree of autonomy, attention to detail and accuracy
      • Understanding of the lease administration process, lease terminology, and lease clauses

Keywords: GRACO Real Estate Development, Inc., Lubbock , Commercial Lease Administrator, Accounting, Auditing , Lubbock, Texas

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