Commercial Lease Administrator
Company: GRACO Real Estate Development, Inc.
Posted on: June 22, 2022
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
- 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
- Provide necessary guidance, forms, and other communications to
- Prepare Subordination Agreements and communicate with Lenders
- Prepare Estoppel Agreements for lenders,
acquisitions/dispositions, and others as needed
- Audit lease abstracts through careful review of legal
- 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
- 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
- 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
- Provide Tenant move-in coordination, including monitoring
opening status, Post Office box assignments and key delivery,
coordinate tenant welcome, prepare and record tenant lease
- Request, track, and collect certificates of insurance from
tenants and vendors.
- Record and distribute property tax appraisal notices and
- 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
- High school diploma requiredExperience/Skills/Knowledge
- 2+ years of relevant experience in Accounting or Real Estate
- 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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