Owner and manager of approximately 2 million square feet of power and grocery store anchored shopping centers in the DC metro area is seeking a highly-skilled and self-motivated Lease Administrator to join our team. The Lease Administrator is responsible for all leases in the portfolio, including reviewing and monitoring leases prior to execution and throughout the lease term, monitoring critical lease dates, and calculating rent escalations.
ESSENTIAL DUTIES & RESPONSIBILITIES:
- Interpret all lease information as it is presented in the lease document for all tenants within the properties.
- Advise Director of any outstanding information or inconsistencies noted in lease documents.
- Fully abstract leases for purposes of entry into the Lease and Accounting software.
- Create and maintain lease files that contain all pertinent information, in paper files, hard drive, Dropbox, and Lease and Accounting software.
- Prepare rent commencement letters for each new lease or other appropriate documentation as need.
- Collect and input Gross Sales data and provide reports as needed.
- Maintain tracking of all time or event targeted lease terms such as right to renew, right of offer, expansion rights, cot-tenancies, exclusive and restricted use, and other key terms and communicate appropriately with leasing department and property managers.
- Set up all lease obligation charges in accordance with the lease (rent, CAM, insurance, real estate taxes, CPI, promotion fund, percentage rent, etc.).
- Calculate and bill estimated monthly CAM, Insurance and Real Estate Taxes
- Calculate and bill annual reconciliations of CAM, Insurance and Real Estate Taxes
- Prepare CAM, Insurance and Real Estate Tax calculations for the annual operating budgets.
- Prepare and review monthly Rent Rolls.
- Track all changes or adjustments necessary to lease documents received. (Amendments, Extensions, etc).
- Address Property Management Team inquiries.
- Compute CPI increases.
- Process tenant move-ins and move-outs.
- Confirm Security Deposits/LOC’s are in compliance with lease provisions.
- Work with Accounting on any tenant accounts receivables issues.
- Assist in due diligence procedures (i.e., prepare estoppels).
- Special projects/goals for department and employees.
- Five or more years strong background in retail lease administration required.
- Strong computer skills including working knowledge of real estate management and accounting software, Excel, and Word required.
- Possess a detailed understanding of key lease terms.
- Strong problem solving skills coupled with the ability to work independently and effectively manage concurrent tasks required.
- Analytical skills: collect, interpret, organize and evaluate detailed data.
- Excellent organizational skills.
- Excellent interpersonal and communication skills (including listening, verbal and written).
- Ability to work well independently with minimal supervision, but also as part of a team.
- Excellent attendance and punctuality are essential functions of this position.
- College degree or equivalent required.
- Property Management
5+ to 7 years
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