Lease Administrator

Job Summary:

The Commercial Lease Administrator Associate is responsible for managing the lease administration process for a portfolio of commercial properties. This position is responsible for maintaining lease agreements, tenant billings, lease administration, expense recovery and reconciliation. This role involves the accurate and timely processing of invoices, vendor payments, reconciliations, and maintaining relationships with tenants, external vendors and our internal commercial leasing team. The ideal candidate will have experience in real estate accounting, knowledge of commercial lease language, strong attention to detail, and excellent organizational skills.

Accounts Payable Responsibilities:

Invoice Processing
• Review and verify invoices for accuracy, proper authorization, and adherence to company policies.
• Code invoices to appropriate general ledger accounts and property cost centers.
• Enter invoices into the accounting system, ensuring timely and accurate data entry.

Vendor Management
• Maintain and update the vendor database, ensuring that all vendor information is accurate and up-to-date.
• Establish strong working relationships with vendors and respond to inquiries regarding payment status or discrepancies.
• Coordinate with internal departments to resolve any issues related to vendor billing or services

Reconciliation and Reporting
• Perform monthly and quarterly reconciliations of accounts payable transactions.
• Assist in the preparation of financial reports related to accounts payable, including aging reports and cash flow analysis.
• Support the month-end and year-end closing processes by providing accurate accounts payable data.

Payment Processing
• Prepare and process payment batches, including checks, ACH payments, and wire transfers.
• Monitor payment schedules and ensure that all payments are made in a timely manner to avoid late fees or penalties.
• Reconcile vendor statements and resolve discrepancies in a professional and timely manner.

Accounts Receivable Responsibilities:
• Administering leases of managed commercial properties to ensure proper billing according to the terms of the Tenant Leases. Prepare rent statements and tenant invoices & send statements out to tenants. Prepare CAM and Tax reconciliations. Calculate monthly accruals. Track sales, calculate percentage rent. Review new leases and enter lease data into MRI.
• Manage internal lease inquiries from Commercial team. Manage external lease inquiries from lenders, tenants. Resolve Tenant billing disputes/audits. Correspond with tenants as needed/requested. Send tenant default notices for minor lease infractions. Forward tenant account information to attorneys for default proceedings when necessary.
• Daily recording of bank deposits and/or checks; Perform reconciliation of payments and customer accounts. Strengthen and grow relationships with Tenants by communicating with Tenants regarding past due balances. Responding to customer inquiries about billing.

Lease Administration Responsibilities:

Compliance and Internal Controls
Monitor lease compliance, ensuring adherence to lease terms, conditions, and legal requirements.
• Ensure adherence to internal controls, accounting policies, and regulatory requirements.
• Assist in the implementation of process improvements to enhance efficiency and accuracy in the accounts payable function.
• Support audits by providing relevant documentation and responding to audit inquiries.

Lease Administration Review and administer lease agreements, amendments, and other related documents.
Ensure that all lease documents are accurate, complete, and compliant with company policies and legal standards.
Maintain an organized and up-to-date lease database, tracking critical dates, renewals, terminations, and other key lease provisions.
Coordination and Communication Work closely with the leasing, legal, property management, and finance teams to ensure smooth lease execution and management.
Support lease negotiations by providing critical property and lease information.
Assist in due diligence processes during acquisitions, dispositions, or refinancing of properties.
Serve as the primary point of contact for tenants regarding lease-related inquiries, rent adjustments, and payment schedules.
Address tenant concerns, questions, and requests in a timely and professional manner.
Coordinate with property managers and legal teams to resolve any lease discrepancies or disputes.
Qualifications: Associate or bachelor's degree in accounting, Finance, Business Administration, or a related field is preferred.
Minimum of 2 years of experience in accounts payable specifically in the commercial real estate industry.
Must have experience with CAM expenses and recoveries
Experience with Nexus payable system required
Proficiency in accounting software (such as Yardi, MRI, or similar systems) and Microsoft Office Suite (particularly Excel).
Strong understanding of real estate accounting principles and property management.
Key Competencies: Excellent organizational skills and attention to detail.
Adaptability and ability to acquire new skills efficiently
Strong analytical and problem-solving abilities.
Effective communication and interpersonal skills.
Ability to manage multiple tasks and meet deadlines in a fast-paced environment.
High degree of integrity and professionalism.