The Lease Administrator is a critical role responsible for the accurate and efficient administration of all commercial lease agreements, ensuring compliance with legal standards and company policies. This individual will serve as the primary point of contact for tenants on lease-related issues and will play an essential role in the full lifecycle of a lease, from drafting to new lease, renewal/termination.
Key Responsibilities
Lease Management & Documentation
- Abstracting Leases: Accurately review, interpret, and abstract complex commercial lease documents, including new leases, amendments, renewals, and terminations, into the lease management database.
- Data Integrity: Maintain and audit the lease administration database to ensure all lease details, critical dates (e.g., commencement, expiration, options to renew/terminate), tenancy schedule, and tenant contact information are accurate and up-to-date.
- Compliance: Monitor and enforce compliance with all lease terms and conditions, including insurance requirements (Certificates of Insurance - COIs) and maintenance obligations.
- Document Control: Organize and maintain all physical and electronic lease files, ensuring documents are properly executed and easily retrievable.
Financial & Accounting Support
- Billing: Coordinate with the Accounting department for accurate tenant rent invoicing, common area maintenance (CAM), property tax, insurance, and other recoverable expense billings.
- Rent Calculations: Accurately calculate and process percentage rent based on tenant gross sales reports (GTO).
- Accounts Receivable: Track and manage rent payments, follow up on overdue accounts, and assist in the timely collection of rents and fees.
- Reporting: Prepare and distribute monthly, quarterly, and ad-hoc lease reports, financial summaries, and lease status reports for management review.
Tenant & Stakeholder Relations
- Communication: Serve as the primary administrative contact for tenants, addressing inquiries, resolving disputes, and coordinating maintenance or operational requests in a timely and professional manner.
- Coordination: Liaise effectively with internal departments, including Leasing, Legal, Accounting, and Operations, to facilitate smooth lease execution and property management.
