Lease Administrator

LEASE ADMINISTRATOR

PERSPECTIVE

The Leasing department is charged with the day-to-day oversight of leasing activities on the portfolio, considering the objectives and needs of the clients, owners and lenders with a focus on increasing revenue and occupancy at all of REDICO’s properties

The Lease Administrator position is designed to coordinate Leasing and marketing activities related to REDICO’s portfolio of properties, lease processing and data information for Tenants.  The primary goal of this position is to ensure that all documentation related to leases are tracked and processed accurately.  The Administrator coordinates all lease documents, collects and inputs data, provides financial, statistical, and other reports and analysis for the Leasing Department, Property Management, Asset Management, Acquisitions and Development and other departments as required within REDICO.  The position is characterized by a high degree of responsibility, organizational skills, technical aptitude and diplomacy.

JOB DESCRIPTION

Job responsibilities include:

• Track and maintain all lease expirations, renewal options and other critical dates to ensure that all lease related timetables are tracked and actively managed. Communicate to appropriate REDICO Leasing Representative. 
• Coordinate preparation of all lease documents (with inhouse or external legal counsel). Track work flow of documents to ensure completion within deadlines. Follow through until documents are fully executed by all parties.  Legal documents include, but are not limited to: new leases, amendments, terminations, subleases, assignments, SNDA’s estoppels, and memorandum of lease.
• Prepare proposals in conjunction with REDICO Leasing Representative. Prepare Lease Proposal tracking sheets for Leasing Representative and Asset Manager review of historical negotiations.
• Assist in obtaining prospective tenants’ financial and other required information to evaluate new tenants.
• Maintain information on Landlord entity signature block and authorized Landlord signers.
• Maintain database of required approvals for lease execution (lender/partners). Coordinate lender/owner approval of lease as required.
• Distribute and process all documents after execution.
• Update / maintain suite & square footage data in MRI when lease / amendments are executed.
• Process security deposits and first month’s rent checks that are received.
• Maintain and track letter of credits.
• Provide support as needed regarding lease language interpretation.
• Input lease information into lease tracking systems including MRI and VTS.
• Preparation and processing of SNDA’s and Estoppel requests as needed.
• Preparation of tenant notices, commencement letters, certificates, etc.
• Maintain physical and electronic lease files.
• Review, monitor and update REDICO properties on CoStar, Loopnet and CPIX as needed. Run searches and market information from CoStar, Loopnet as needed. Administer REDICO’s CoStar subscription and evaluate cost/benefits for upgrading or downgrading.
• Process Tenant Move-Outs within MRI.
• Maintain leasing update report for reconciliation of monthly forecasting of leasing activities against the budget within due dates and parameters set.
• Coordinate and prepare leasing assumptions in conjunction with the Leasing Representatives on an annual & quarterly basis.
• Coordinate and prepare Leasing & Marketing Plans in conjunction with the Leasing Representatives for Asset Management’s annual business plans.
• Maintain Commission Agreement files for outside brokers. Prepare and process commission calculations for invoicing & payment.
• Research lease information as directed.
• Coordinate large tenant showings with Listing Broker and Property Management team.
• Maintain files of Floor Plans or Site Plans and assist Leasing team with updating for marketing purposes (in conjunction with REDICO space plan department).
• Tour and understand assigned properties.
• Provide administrative support to Leasing Department.
• Keep records of competitive rents in the market by Property.
• Participate in leasing update meetings with REDICO Leasing Representatives & outside brokers – as directed
• Maintain leasing activity reports for internal Leasing update meetings.
• Maintain strong rapport and work with REDICO Leasing representatives to establish marketing guidelines and procedures with listing broker(s) for each property, including RFP process, ordering signs and broker reporting.
• Assist with broker events; maintain friendly broker relationships.
• Prepare miscellaneous reports and correspondence.
• Set up and coordinate various meetings as needed to include ordering lunch, set up / clean up, etc. 

QUALIFICATIONS

• Possess a strong understanding of real estate document processing and operations.
• Understanding of commercial leases. 
• Ability to work in a fast paced environment.
• Excellent Customer Service and Communication Skills. Effectively communicate with tenants, legal counsel, co-workers, supervisors, management.
• Strong computer skills, including Microsoft Office Excel and Word, Internet, MRI and VTS a plus.
• Strong organizational skills and ability to create and manage information databases.
• Strong attention to detail
• Minimum four years of experience in the real estate industry.
• Be able to work with minimal supervision.