Commercial Lease Administrator

Olshan Properties•New York, NY

11h•$95,000 - $110,000

About The Position

This position is responsible for administering and processing leases, lease renewals, agreements, and licenses. The role also oversees all commercial tenant collection activities, supervises collection staff, and ensures the accurate, timely, and compliant recording of collections and related financial transactions.

Requirements

Ability to read and interpret lease documents.
Ability to communicate with others, identify problems and resolve potential conflicts.
Must be able to set priorities, plan, organize and accomplish tasks, often within strict time limitations, and work well independently.
Business technology savvy with a working knowledge of all Microsoft applications and proficiency in Excel.
3+ years Lease Administration experience.
3+ years experience in real estate required.

Nice To Haves

Yardi/MRI experience preferred
Bachelor’s degree in Finance or Accounting preferred.

Responsibilities

Maintain complete and accurate tenant lease files and related documentation.
Enter, update, and maintain lease information within the property management and accounting systems, including lease commencement and expiration dates, rent commencement dates, free rent periods, tenant improvement allowances, option terms, base rent schedules, rent escalations, percentage rent provisions, and tenant pro rata share obligations.
Maintain suite and building records to ensure accurate square footage and property data are reflected in the accounting system.
Administer lease setup and lease generation processes to ensure lease terms are accurately reflected throughout the lease lifecycle.
Enter, review, and verify recurring charges, critical lease dates, sales reporting requirements, renewal, termination, and kick-out options, insurance requirements, co-tenancy provisions, CPI adjustments, late fees, and other lease-related obligations.
Monitor, track, and ensure the accurate calculation, billing, collection, and recording of percentage rent.
Manage and implement Consumer Price Index (CPI) rent adjustments within Yardi and ensure compliance with lease provisions.
Prepare and distribute monthly reports, including rent roll reconciliations, lease expiration reports, lease summary reports, and other management reports as required.
Monitor and manage critical lease milestones, including execution, delivery, opening, renewal, and vacate dates.
Track, coordinate, and finalize Rent Commencement Dates (RCDs) and distribute applicable RCD letters and agreements to tenants.
Collaborate with Property Accountants to prepare and reconcile year-end tenant recovery billings and invoices.
Organize, facilitate, and lead weekly and monthly delinquency meetings with internal teams and external property management personnel.
Partner with Property Management to address operational issues, implement process improvements, and support property initiatives.
Review, verify, and process leasing commission calculations and related payments.
Ensure the timely and accurate closing of the Accounts Receivable (A/R) module within the property management software system.
Oversee and manage the collection of all commercial accounts receivable balances, ensuring timely follow-up and resolution of delinquent accounts.
Review adjustment requests with staff and tenants, prepare supporting documentation, and obtain appropriate approvals for write-offs and account adjustments.
Participate in special projects and perform additional duties and responsibilities as assigned.