A Lease Administrator is a professional who drafts, reviews and processes lease agreements. They review and analyze contracts and follow up on all lease modifications and lease renewals. In this blog post we describe the primary responsibilities and the most in-demand hard and soft skills for Lease Administrators.

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Main Responsibilities of Lease Administrator

The following list describes the typical responsibilities of a Lease Administrator:

Abstract

• Abstract and interpret all executed lease documents and input into database.

• Abstract lease extension agreements, amending agreement and ancillary documents.

Adjust

Adjust data within MRI based on requests from Property Managers and Accountants.

Administrate

Administrate insurance certificates, deposits and TI Allowances.

Advise

Advise our clients of upcoming escalations to ensure accuracy and timeliness of payments.

Aid in

Aid in updating landlord information in the Lease Management system.

Assist in

• Assist in generating Broker and Tenant databases.

• Assist in resolving occupancy costs disputes with Landlords.

• Assist in the interpretation of lease clauses for internal and external clients.

• Assist in the preparation of documents to be imaged for view by the Business.

• Assist Lease Coordinator throughout various stages of agreement drafting.

• Assist with annual budget preparation and annual and quarterly reports.

• Assist with lead generation.

• Assist with Reception and other administrative duties.

• Assist with regional asset acquisitions.

• Assist with tenant ledger reconciliations.

Attend

Attend regular client meetings and conference calls when necessary.

Bill

Bill and collect Tenant Improvement (TI) allowances from landlords.

Calculate

Calculate Leasing commissions and document preparation fees based on ancillary fees schedule.

Collect

• Collect all lien waivers and other documentation needed for this process.

• Collect all post-dated cheques from all sub-tenants and submit them to Finance monthly.

• Collect monthly rental payments and outstanding payments from tenants on behalf of the client.

Compare

Compare forecast against historical information to review reasonableness of budget increase.

Compile

• Compile and maintain the Master Third Party Billing spreadsheet.

• Compile EFT letters received from landlord and track in excel spreadsheet.

Complete

Complete corporate searches and titles on prospective tenants.

Contribute to

• Contribute real estate updates for company reporting purposes.

• Contribute to acquisitions due diligence by reviewing lease documents.

• Contribute to development and actively participates in implementations.

Coordinate

• Coordinate Leasing Manager and Asset Manager approval before Signing Officer reviews and executes.

• Coordinate the execution, notification and distribution of all executed documents.

• Coordinate with the Project Team / client RM Team for invoicing landlord for tenant allowance.

Create

• Create and manage Tenant Lease Abstracts.

• Create and update workflows.

• Create Tenant invoice master file for new properties and new tenants.

Develop

• Develop and maintain positive relationships with client's internal departments.

• Develop and maintain strong working relationships with internal and external stakeholders.

Draft

Draft, review and process RFP's, lease agreements, amendments and other real estate documents.

Ensure

• Ensure accuracy of leasing material (brochures).

• Ensure accurate and timely updates of all necessary data in DLL's back end system.

• Ensure accurate and timely updating of lease information in JDE.

• Ensure accurate filing of documents within standardized format on corporate server.

• Ensure Annual and New Tenant Invoices are sent to tenants.

• Ensure any unidentified payments returned to accounts receivable receive immediate attention.

• Ensure insurance is in place on all shops and storage units.

• Ensure integrity of data in MRI by inputting and updating management platform with current data such.

• Ensure that all payments received are applied to the proper contracts daily.

• Ensure that any cash adjustments.

• Ensure that minimum rent payments and operating costs, property taxes, insurance costs, etc..

• Ensure the charges are in accordance with the lease agreement.

• Ensure unidentified payments are applied within 48 hours of receipt to Unapplied Suspense.

• Ensure unidentified payments are applied within hours of receipt to Unapplied Suspense.

Enter

• Enter all rental data into property management databases and other systems.

• Enter lease and customer information into various systems, ensuring accuracy and attention to detail.

• Enter new leases, renewals, amendments, assignments, and licence agreements.

• Enter and maintain lease agreement information within lease management database.

Evaluate

Evaluate tenant accounts for compliance to lease terms.

Facilitate

Facilitate and track the routing and signatures of various legal documents and leases.

Finalize

Finalize the booking process within Infolease.

Follow up

Follow up on all lease modifications and lease renewals.

Generate

• Generate lease-related reports as necessary.

• Generate reports as required such as KP1, Critical dates, options to terminate.

Help

• Help organize special events.

• Help schedule vendors and contractors for minor repair and maintenance work.

Improve

Improve current release practices.

Instruct

Instruct and liaise with external solicitors to have lease documents prepared and executed.

Interact with

• Interact and engage in a friendly manner with staff and clients.

• Interact with FM & Project Team on operational matters.

Interpret

• Interpret and relay lease terms to Accounts Payable team for rent, percent rent, and other payments.

• Interpret lease documentation to identify and extract legal and financial clauses.

• Interpret the lease clauses and ensure that landlords respect the tenant's rights under the lease.

Investigate

Investigate and respond to landlord queries pertaining to lease / rental issues.

Invoice

Invoice Landlords for Tenant Inducements, and track and collect payments in a timely manner.

Liaise with

• Liaise with accounting and management.

• Liaise with landlords in order to obtain necessary approvals to proceed with these initiatives.

Mail

Mail fully executed documents directly to Tenants and a copy be stored at respective site office.

Maintain

• Maintain and manage the MRI LeaseFlow profile approval process.

• Maintain and update lease files.

• Maintain and update store files in an orderly fashion.

• Maintain and update various internal reports.

• Maintain an excellent relationship with all Landlords and Clients.

• Maintain a strong closing ratio and ensure transactions are closed within designated cycle times.

• Maintain database for recurring payments and periodic payments to be paid to the landlords.

• Maintain database software information and accuracy, including setting up recurring charges.

• Maintain lease and project database –upload and file all lease documents and other material.

• Maintain tenant lease document status report.

• Maintain the lease administration records system in accordance with internal quality standards.

• Maintain the lease database.

Manage

• Manage all funding needs after booking to ensure they are done on a timely and accurate basis.

• Manage all Lease Administration related landlord communications.

• Manage and coordinate Tenant move out / move in procedures.

• Manage both the Unapplied Suspense and Disposition Suspense reports to conclusion.

• Manage cash security deposits and Letters of Credit.

• Manage Epic release implementation events, plans and compiles timeline and completion.

• Manage Insurance certificate process as required by leases.

• Manage New Lease and Modification process from start to finish.

• Manage space reconfigurations with Lease Accounting as part of the Yardi entries.

• Manage Tenant charges in Yardi.

• Manage tenant lease files.

• Manage the process of refunding or reducing security deposits according to the lease terms.

• Manage the process of refunding or reducing security deposits according to the lease terms.

• Manage Transfer of Funds for all payments in Unapplied Suspense as required.

Monitor

• Monitor critical dates such as expiry dates, options to renew & termination.

• Monitor critical lease dates such as expiry dates, options to renew, options to terminate, etc..

• Monitor property Rent Rolls, Lease Expirations, Occupancy Absorption, and other reports.

Negotiate

Negotiate storage rates with Landlords.

Originate

Originate and close monthly and quarterly land / lease acquisitions, extensions and rent mitigations.

Oversee

• Oversee and coordinate monthly expiries / terminations and holdover process.

• Oversee maintenance of database ensuring all data is accurately classified, approved and processed.

Perform

• Perform accounting treatment on leases and work with US lease administrators to validate data.

• Perform all year-end rent reconciliations with accounts payable and owners.

• Perform general clerical duties, such as photocopying, scanning and data entry lookups.

Prepare

• Prepare all terminations associated with a newly booked contract.

• Prepare and maintains files (physical and electronic) for all executed documents.

• Prepare and Manage Tenant Rent Schedules.

• Prepare and present written, verbal and / or video presentations to land owners.

• Prepare and provide reports to managers and / or clients.

• Prepare and send Tenant Notices.

• Prepare, distribute and track Bollard letters for SDM landlords.

• Prepare economic information for retail rent comparison and analysis.

• Prepare estoppel certificates upon request.

• Prepare final form for execution upon approval.

• Prepare formal correspondence as required.

• Prepare information for accounting to complete deferred lease schedules and amortization entries.

• Prepare internal monthly leasing activity and variance analysis' reports.

• Prepare Monthly Arrears Report for PM.

• Prepare monthly rent statements.

• Prepare Tenant arrears statements.

Process

• Process all Estoppel certificates and return to Landlord's.

• Process all project invoices from construction projects and renovations.

• Process and maintain all pertinent data in the Tririga lease administration application.

• Process credit background checks.

• Process manual adjustments upon receive proper documentations.

• Process monthly rent payments to the landlord and ad hoc payments on behalf of the client.

Provide

• Provide accurate metrics to management.

• Provide ad hoc reports and participate in ad hoc projects as required.

• Provide a high level of attention to detail for reliable accuracy.

• Provide back-up within the department when needed.

• Provide complete package for manager's review.

• Provide critical date tracking and support to the Global Real Estate team.

• Provide due diligence on landlord / tenant change of ownership.

• Provide input on budget requirements for renovation and maintenance projects.

• Provide landlords with insurance certificates.

• Provide oversight to and / or audits abstracts of PLA team members.

• Provide support to the Real Estate and Legal departments as required.

• Provide to Finance key figures as required.

Read

• Read and review agreements for signatories.

• Read, identify and abstract clauses in Leases, Extensions, Amendment and License Agreements.

Reconcile

Reconcile monthly rent roll and process payments.

Respond to

Respond to general telephone calls, internet, email and walk-in inquires about spaces for lease.

Review

• Review, abstracts and processes leases, amendments and other documents.

• Review and abstract leases.

• Review and analyze contracts and lease agreements as they relate to clients or projects.

• Review and audit leasing documentation, ensuring all applicable standards and policies apply.

• Review and prepare all signed lease contracts for funding.

• Review and prepare for execution and distribution, leases, and exhibits to proper parties.

• Review and process yearly NNN reconciliations.

• Review and validate landlord invoices to ensure compliance with the lease.

• Review, enters, and verifies incoming acquisition information for tenant leases.

• Review Landlord Invoices for accuracy.

• Review monthly rent rolls and process billing adjustments.

• Review rental contract information provided by accounts payable departments internal.

Run

Run monthly and periodic Lease detail reports.

Scan

• Scan, organize and maintain all lease related documents in the Corporate's electronic filing system.

• Scan / Save Tenant Deposit Cheques.

Schedule

Schedule regular meetings and record decisions (e.g. assigned tasks and next steps).

Set up

• Set up New Tenants in Yardi.

• Set up PAD and Tenant Invoices.

• Set up Tenant security Deposit.

• Set up yearly invoice Template.

Summarize

Summarize the leases (financial obligations, critical dates and main clauses).

Take

Take direction from, and support, senior team members.

Track

• Track and arrange approval packages for Landlord's signature.

• Track and ensure accurate Certificates of Insurance are on file and up-to-date in database.

• Track and follow-up on outstanding year-end adjustments.

• Track and invoice landlords for tenant improvement allowances and Leasing Fees.

• Track and review tenant insurance certificates.

• Track Lease Commission Invoices.

• Track the AR for all Sub-tenants and collect all outstanding unpaid rents.

Transcribe

Transcribe Tenant lease details to base tenant worksheets.

Update

• Update Lease Spread calculations on an ongoing basis.

• Update Tenancy month in Budget Worksheet.

Work with

• Work closely with the finance and sales team to provide administrative support.

• Work well as a part of a Team, while having the ability to self-start.

Most In-demand Hard Skills

The following list describes the most required technical skills of a Lease Administrator:

1. MS Excel

2. MS Word

3. Lease Administration

4. Accounting

5. Finance

Most In-demand Soft Skills

The following list describes the most required soft skills of a Lease Administrator:

1. Written and oral communication skills

2. Attention to detail

3. Organizational capacity

4. Multi-taskeTime-management

5. Work independently with little direction

6. Analytical ability

7. Interpersonal skills

8. Problem-solving attitude