Lease Administrator
11% below the median for Mid-Level Other roles
The Lease Administrator maintains and administers lease records for an assigned portfolio of properties, abstracting lease terms, tracking critical dates, and supporting accurate billing and compliance with lease agreements.
Essential Duties and Responsibilities
Review and abstract new leases, amendments, renewals, extensions, expansions, relocations, terminations, and other lease documents.
Maintain accurate lease records, lease profiles, rent schedules, and tenant information within the property management/accounting system.
Interpret complex lease provisions relating to rent, escalations, abatements, operating expenses, taxes, CAM, utilities, management fees, gross-ups, and tenant reimbursements.
Calculate and process fixed and percentage rent increases, CPI adjustments, abatements, concessions, and other contractual charges.
Prepare and maintain tenant rent rolls and occupancy schedules.
Set up and maintain expense pools, recovery structures, tenant expense shares, and applicable base years.
Prepare annual CAM, operating expense, and real estate tax reconciliations in accordance with individual lease requirements.
Review tenant billings and identify discrepancies or required adjustments.
Coordinate with Property Managers, Asset Managers, Accounting, and other internal departments to ensure lease information and financial assumptions are accurate.
Review tenant audit requests and provide supporting lease and financial documentation.
Assist with tenant-initiated audits and resolve discrepancies involving rent, operating expenses, taxes, and other recoveries.
Update budgets and reforecasts to reflect executed lease transactions and contractual obligations.
Monitor lease milestones, critical dates, options, notices, commencement dates, expiration dates, and other contractual requirements.
Research and resolve discrepancies between lease documents, accounting records, rent rolls, and property management systems.
Maintain organized electronic lease files and supporting documentation.
Ensure lease information is entered accurately and consistently into MRI or other lease/property management systems.
Qualifications
Bachelor's degree in Business, Real Estate, or related field preferred; equivalent experience considered.
1-3 years of experience in lease administration, property management, or a related field.
Ability to read and interpret commercial lease documents.
Proficiency in Microsoft Excel; experience with lease administration software (e.g., Yardi, MRI, Lucernex) a plus.
Strong organizational skills and attention to detail.
Effective written and verbal communication skills.
Applicants must be currently authorized to work in the United States without the need for visa sponsorship now or in the future.
Physical Requirements
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed above are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
This role involves standard office work with the ability to use a computer for extended periods. Minimal travel may be required.
This position is 100% in-office. The role requires working in office during standard business hours. Remote work or telecommuting is not an option for this position.
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Pay Range
$85,000—$95,000 USD