Job Summary: The Lease Administration Supervisor, reports to the Senior Manager of Portfolio Accounting and oversees the lease administration function for the commercial real estate portfolio. Key responsibilities include overseeing third-party lease administrators in tenant billing and collections, lease input and abstraction, and maintaining lease data in a deadline-driven environment. This role serves as the liaison between landlords and tenants regarding lease compliance and facilitates communication within the company related to the commercial portfolio.

The Supervisor collaborates with asset management, property accounting, and third-party property managers to oversee lease documentation, ensure compliance with agreements, track rent payments, perform financial analyses of lease transactions, and drive initiatives to enhance the quality and efficiency of lease administration processes. 

The ideal candidate is detail-oriented, possesses a strong understanding of real estate operations, and can navigate complex lease agreements, ensuring accurate record-keeping and compliance while improving the overall leasing process. 

Job Duties and Responsibilities:

• Oversee the daily lease administration for the property portfolio, including the developing and implementing relevant policies and procedures.
• Coach and develop third-party lease administrators, establishing performance objectives and goals to enhance the operational excellence of the lease administration function.
• Maintain a strong internal control structure while improving processes to maintain quality and improve efficiency.
• Manage the Yardi system modules used for lease administration and revenues to ensure data integrity, operating efficiencies, and accuracy.
• Lead in or assist with special projects to improve, streamline, and enhance the function’s operations and serve the needs of asset managers and the accounting team.
• Coordinate with accounting staff, third-party property managers, and asset management to ensure timely and accurate reporting of lease data and operating metrics.
• Oversee the third-party property managers to ensure lease administration tasks meet internal deadlines.
• Abstract and maintain all lease documentation for the commercial portfolio in the Yardi system, tracking key dates and critical lease provisions, and evaluate and implement the AI lease abstraction tool.
• Review and interpret legal terminology and lease clauses for all stakeholders.
• Review and communicate lease and rent commencement letters and annual rent increase letters to tenants. Serve as the primary point of contact for tenants, addressing inquiries regarding lease terms, billing, maintenance requests, and resolving disputes. 
• Review and process account adjustments, calculations, and reconciliations for tenant charges, including common area maintenance (CAM), taxes, insurance, utilities, and capital expenditures.
• Maintain accurate monthly rent rolls and update as necessary.
• Oversee the billing and collection process for miscellaneous tenant charges, reimbursement income, late charges, and base rent for the commercial portfolio, ensuring timely rent collection. 
• Track tenant certificates of insurance.
• Prepare and/or review monthly reforecasts and annual budgets for lease revenues utilizing current lease data.
• Collect tenant gross sales information, input into Yardi, and calculate percentage rent when due.
• Assist the financial reporting team with external auditors during annual audits and quarterly reviews, including completing required workpapers, and SOX documentation.
• Lead the preparation and review of lease related information for SEC filings and investor presentations. Review deliverables to ensure that work is consistent, accurate, and adheres to regulatory/department policies and procedures.
• Analyze revenue accounts for any unusual or unexpected activity resolving any discrepancies and irregularities.
• Perform ad hoc reporting and special projects as directed by the supervisor or department head.

Qualifications:

• Bachelor’s degree in real estate, business administration, accounting, finance, or a related field.
• 3+ years experience in commercial lease administration experience, preferably within a REIT or property management company.
• Proficient with MS Excel software and other MS Office software.
• Experience with Yardi and Argus a plus.
• Strong written and verbal communication skills capable of engaging with colleagues at all levels, including the CFO.
• Ability to interpret and summarize complex commercial lease language.
• Familiarity with basic accounting principles, reimbursement income calculations, and billing.
• Independent worker with excellent organizational and team-working abilities, as well as attention to detail.
• Expertise in project management, encompassing strategic planning, precise execution, and successful delivery of intricate initiatives preferred. 
• A willingness to actively contribute to completing necessary tasks. 
• Ability to flex and adapt work schedule to changing business demands.  
• Demonstrate integrity and honesty and model the core values of the company- Quality, Service, Flexibility, and Integrity. 

Physical Demands and Work Environment:

While performing the duties of this job, the employee will regularly work inside an office. Performing this job will require the use of hands to fingers with the ability to handle, or feel objects, stand, sit, walk, talk, and hear. It requires the employee to occasionally climb stairs, balance, and occasionally stoop, and kneel. Specific vision abilities required by this job include close vision, peripheral vision, depth perception, and the ability to adjust focus. Employees may occasionally lift and/or move up to 10 pounds. The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. 

Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities, and activities may change at any time with or without notice.