What are the responsibilities and job description for the Lease Administrator position at Meadows & Ohly , LLC?
Job Description
Job Description
Description : Position summary :
Responsible for ensuring all lease information is input accurately into the Property Management software, performing various accounting and financial related functions involving leases and providing support to the Lease Advisory department.
Essential Duties and Responsibilities :
- Comprehend and abstract real estate lease documents, summarizing all key financial and non-financial related covenants.
- Ensure all critical lease data is captured and entered accurately into property management database including tenant billing information, lease dates, square footage, recurring charges, lease options, special stipulations, etc.
- Proactively track and manage critical dates within a lease.
- Interact and communicate professionally with other real estate team members regarding lease administration issues and / or database issues.
- Review recovery clauses; calculate actual recovery expenses for each tenant and review caps, base years, gross-up language, pro-rate share definitions and non-standard exclusions.
- Prepare monthly rent rolls and reconcile rent variances for Lease Advisory clients.
- Verify percentage rent calculations
- Reconcile and conduct annual audits or Rent, Common Area Maintenance (CAM), Operating Expenses, Taxes and Insurance; report audit findings and recommend actions including any billing adjustments.
- Coordinate with Property Managers for the timely submission of tenant acceptance or surrender forms and other lease updates.
- Notify property managers of expiring leases prior to running monthly lease expiration reports.
- Prepare tenant rent schedule
- Review client invoices in conjunction with lease requirements for accuracy and ensure proper back-up documentation is provided.
- Analyze tenant accounts with outstanding balances and work with property managers, tenants, and landlords to resolve billing disputes and prevent future discrepancies from occurring.
- Prepare twelve month and five-year renal income / expense projections; assist with annual budget including estimated tenant passthrough charges.
- Review and maintain Consumer Price Index tables and process annual CPI rent escalations.
- Calculate leasing commissions and brokerage fees.
- Prepare rent expense allocations involving multiple cost centers and calculate prorated rent.
- Compose a variety of correspondence; review finished materials for thoroughness, accuracy, format and grammar.
- Maintain lease files, abstracts, and support.
- Schedule electronic delivery of tenant invoices each month using PM database.
- Request W-9s from 3rd party landlords and update vendor remit to addresses.
- Summarize 1099 rent payment for Lease Advisory clients.
- Update monthly changes to tenant improvement allowances
- Request information from clients including new department codes, work order approvals, etc.
- Code and enter A / P invoices for Lease Advisory assignments.
- Prepare monthly financial reports.
- Participate in monthly client meetings.
- Assist with department business plans.
Knowledge, Skills, and Abilities :
Requirements :
Minimum Qualifications :
Physical Demands :
The physical demands described here are representative of those demands that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
Working Environment :
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
