Responsible for managing end-to end lease administration from lease inception to expiration, including the accurate and timely administration of leases within the lease management software database, in addition to generating reports, performing lease compliance reviews, financial analysis, and accounting duties.
Job Duties and Responsibilities (Essential Job Functions) Common job activities are listed below; actual position responsibilities may vary. Refer to your manager or human resources for specific duties and performance expectations.
1. Perform a variety of lease administration functions to ensure accuracy and compliance within the lease terms and conditions. (70-80%)
- Assist in maintaining the integrity of the lease administration system (Visual Lease) through the abstraction of rental components, critical dates, and lease provisions.
- Monitor, track and report critical lease renewal dates and coordinate with regional Finance team members to forecast plans for lease renewals, managing lease inventory to execution.
- Manage monthly rent process by maintaining the master list of rents and coordinating timely payment made by Accounts Payable.
- Assist in the on-going management of the lease administration system Visual Lease by performing data audits and clean-up critical dates (options, expirations, vendor changes, estoppels, least status, etc.).
- Assist in the resolution of day-to-day issues and questions from internal and external partners.
- Provide information and reporting to relevant parties (subsidiaries, legal, finance).
- Ensure timely communication of issues and fiscal impact to business partners.
2. Perform lease accounting activities to ensure compliance with accounting lease standards. (25-30%)
Validate and reconcile capital expenditures against budgets and forecast.Review and / or prepare journal entries and reconciliations for lease or fixed asset accounting.Verify legitimacy of all requested vendor changes by obtaining and reviewing documentation including deeds, assignment of leases and other operating agreements and W-9's.Review audit work for common area management fees (CAM) ensuring compliance with lease agreements.Review projected expenses on new leases.Facilitate resolution of payment disputes with landlords.Reconcile non-reoccurring / reoccurring invoices for compliance with lease terms.Examine construction / tenant improvement expenditures against original proposal.3. Other Lease Administration activities as designated by the Lease Administration Supervisor. (0-5%).
Performance Expectations
Meet all performance and behavior expectations outlined in the company performance appraisal form or communicated by management.Perform responsibilities as directed, achieving desired results within expected time frames and with high quality and professionalism.Establish and maintain positive and productive work relationships with all staff, customers, and business partners.Demonstrate the behavioral and technical competencies necessary to effectively complete job responsibilities. Take personal initiative for technical and professional development.Follow the company HR Policy, the Code of Business Conduct and all subsidiary and department policies and procedures, including protecting confidential company information, attending work punctually and regularly, and following good safety practices in all activities.Qualifications
Education :
Bachelor's degree in accounting, business, or related field preferred; proven related industry experience in lieu of degree.Experience :
At least 5-7 years of relevant experience in the commercial real estate lease administration industry and / or paralegal, accounting or property management fields having worked in either (or both) the landlord or tenant sector.Detailed analysis and reporting experience.Knowledge and Skills :
Lease administration / real estate background demonstrating knowledge of lease interpretation and the implementation of lease contracts.Demonstrate a positive, professional, and client-oriented attitude with coworkers, landlords, vendors, and others whether contact is by mail, telephone, e-mail, or in person.Exceptional organizational, communication, and problem-solving skills.Strong attention to detail and ability to produce high quality work with little to no errors.Time management skills with ability to adapt and respond to changing conditions or priorities with a sense of urgency.Proficient with Microsoft Outlook, Excel, and Word.Requires basic knowledge of accounting principles including the ability to calculate simple figures such as percentages.Working experience with Visual Lease or other lease administration systems is a plus.Ability to work independently and as part of a team.Wage : 28.37 - $34.62 hourly; actual wage is based upon education and experience.
Benefits : Full suite of benefits including Medical, Health Savings Account, Dental, Vision, Life Insurance, Paid Vacation (PTO), 401(k) with employer match, Flexible Spending Account, and Employee Assistance Program (EAP)
Location : Eden Prairie, MN 55344
Equal Opportunity Employer
Salary : $28 - $35
