What are the responsibilities and job description for the Lease Administrator position at Intelica?
Position Summary:
The Lease Administrator is responsible for overseeing the lease portfolio and performing the day-to-day Lease administration activities for the Property Management team and clients. This role will also support third-party clients with lease administration and auditing support. Responsibilities include summarizing and capturing key lease provisions, database accuracy, and reconciling operating expenses.
Essential Job Duties:
Perform lease abstracting and auditing services for managed portfolio. This work may include, but is not limited to:
The Lease Administrator is responsible for overseeing the lease portfolio and performing the day-to-day Lease administration activities for the Property Management team and clients. This role will also support third-party clients with lease administration and auditing support. Responsibilities include summarizing and capturing key lease provisions, database accuracy, and reconciling operating expenses.
Essential Job Duties:
Perform lease abstracting and auditing services for managed portfolio. This work may include, but is not limited to:
- Review, abstract and/or perform quality control data audits of documents including updating and maintaining all lease information and data in Yardi;
- Responsible for reviewing leased property documents as well as compiling and maintaining critical data to notify brokerage and property managers of upcoming lease expirations and commencement dates;
- Prepare commencement date letters for property manager review and tenant delivery;
- Implement and update ongoing lease administration processes: Abstract/audit tracker, new lease document flow, standard template updates, SharePoint improvements, etc.;
- Manage event based & lease milestones to ensure timely reporting of projects, completion, profitability to clients:
- Partner with the transition & quality control coordinator, property manager, and owner/buyer to get new properties onboarded quickly and accurately into Yardi:
- Perform quality control and training of property management financials.
Prepare and analyze quarterly and year-end CAM, Insurance, and Real Estate Tax reconciliations for ownership and tenants. This work may include, but is not limited to:
- Conduct internal meetings with the property managers to review general ledger accuracy for reconciliation billing;
- Conduct external meetings with property owners, as required, to review year-end operating expenses and tenant CAM charges;
- Review property general ledgers for reimbursable charges and provide guidance on pass through operating expenses to property managers;
- Provide guidance and direction to brokerage on operating expenses and favorable landlord lease language;
- Responsible for dispute resolution with tenants for any identified reconciliation discrepancies (i.e., cap calculations, gross ups, base years, and expense variances);
- Create and maintain a 3-year operating expense (psf) spreadsheet, by property, for brokerage to utilize and easily access when preparing new lease documents.
Tenant Lease Audit for Third-Party Clients. This work includes, but is not limited to:
- Prepare proposals and conduct potential client interviews for lease auditing services;
- Perform desktop audit reviews for third party tenants;
- Prepare and present audit findings to client and make recommendations regarding those findings;
- If required, work with outside auditing team to perform complete lease audit review.
QUALIFICATIONS:
- Bachelor’s degree in business, real estate, accounting, or a related field preferred.
- 3 years of experience in lease administration, property management, or a related role.
- Strong knowledge of lease agreements, financial terms, and real estate terminology.
- Proficiency in lease management software and Microsoft Office Suite (Excel, Word, PowerPoint).
- Excellent analytical, organizational, and communication skills.
- Ability to manage multiple priorities in a fast-paced environment with a high level of accuracy and attention to detail.
