Philadelphia, Pennsylvania
Houston, Texas
United States - Nationwide
Posted: 04-Mar-25
Location: Dallas-Fort Worth Metro, Texas
Type: Full Time
Categories:
Preferred Education:
Our Client is the chosen visionary platform for transformational investments and strategic partnerships in innovative mixed-use and industrial real estate in Texas and key markets with an integrated focus on social impact. They are a boutique firm known for their visionary strategy and tenacious execution. Their projects and work Inspire Evolution Through Impact and Innovation.
POSITION SUMMARY:
The Lease Administrator will be responsible for all phases of hard and soft lease files, including reviewing and monitoring leases prior to execution and throughout the lease term, monitoring critical lease duties, calculating rental escalations and initiating appropriate action in the event of tenant defaults. Maintains electronic files as well as abstracts in Yardi; performs continual lease audits, works with property management to ensure lease compliance, manages security deposits/letters of credit (LOC), works with accounting and property management on operating expense reconciliations, rent billings and reviews and audits monthly financial information.
The Lease Administrator will manage the commission payment process and assist in leasing due diligence including estoppel generation and reconciliation of tenant revenue per leases/due diligence to Argus model as well as service contract administration and tenant/vendor COI tracking.
KEY RESPONSIBILITIES:
The activities listed here are not all-inclusive; rather, they indicate the types of activities normally performed by this position. The successful candidate will be able to demonstrate core competencies in the following areas:
- Maintain the leasing and property management software (Yardi) for all lease data portfolio wide by inputting and tracking critical lease data such as expiration dates, renewal options, ROFRs, ROFOs, Tenant Improvement Allowance, Letters of Credit (LOCs), and any additional encumbrances. Communicate and update results internally.
- Abstract all new leases and/or Amendments by entering information into Yardi accounting system as well as performing property lease file audits.
- Owner and coordinator of the property leasing calls with brokers as well as calendar maintenance for the department.
- Prepare and manage all lease notes, meeting minutes, agendas as necessary and follow up as required to ensure asset and property management and leasing are aware of any critical dates and required action.
- Coordinate and prepare lease documents for execution and distribution to proper parties.
- Managing and upkeep of lease files by ensuring all documents and files are labeled accordingly and all necessary documents are accounted for. Maintain soft copy files for all floor plans, BOMA calculations and tenant as-builts as requested.
- Serve as secondary point of contact between Landlord and Tenant regarding each party’s compliance with all provisions of the lease.
- Work with property management to ensure certificates of insurance are current, commencement letters are executed, security deposit/LOC and operating expense information is correctly entered in Yardi.
- Manage the commission calculation and payment process. Calculate all commissions in accordance with the listing agreement or commission agreement. Process all invoices for payment upon obtaining the approval from Asset Management.
- Provide support by answering lease-related questions about expenses, clauses, key dates, etc.
- Oversee the review and track Tenant Improvement allowance and ensure that improvement is being administered properly and within lease guidelines.
- Participate in the due diligence process as it relates to lease documents both for acquisitions and dispositions.
- Prepare and update option exposure information to maintain awareness when granting options for new tenants.
- Assist in preparing and maintaining information for market surveys, occupancy reports/rent rolls, lease expiration reports, rollover reports, space availability reports, stacking plans and various other reports as requested or necessary for the portfolio.
- Coordinate monthly AR meetings and work with accounting and property management to ensure rent, billboard, parking, storage, and other income is being collected in a timely fashion and proper follow up is taken.
- Assist accounting and property management with auditing operating expense billing both estimated prepayments and reconciliation to ensure accuracy.
- Work with property management to ensure preparation of delinquency notices and initiation of appropriate action in the event of monetary default.
- Review the tenant move-ins and move-out procedures and ensure lease provisions are followed.
- Administer service contracts and listing agreements, as necessary.
- All other duties as assigned and associated with the day-to-day operation of a commercial real estate portfolio.
DESIRED SKILLS & ATTRIBUTES:
- Strong written and verbal communication skills.
- Strong interpersonal relationship skills.
- Ability to manage and prioritize competing priorities.
- Superior attention to detail.
- Resourceful and strong ability to problem solve.
- Adaptable and accountable.
- Strong organizational and time management skills.
- Project management skills.
- Demonstrated knowledge and skills in property management and lease administration.
EXPERIENCE & EDUCATION:
- High School Diploma required; Bachelors degree preferred.
- Minimum of 3+ years of successful, professional industrial/commercial lease administration experience.
- Experience reading and interpreting real estate leases, including all related lease documents, is essential.
- Experience working with Microsoft Office Suite; experience with Yardi, Kardin and VTS software programs.