Lease Administrator

Position: Lease Administrator
Reports to: Accounting
Location: 111 West 33rd Street New York, NY 10120

Job Summary:

Lease Administrator reports to the Manger – Lease Administration and Accounts Receivable. The Lease Administrator will assist in the organization, management and proper distribution and filing of lease agreements and all supplemental lease documentation for the REIT properties. The Lease Administrator enters key lease terms into Yardi and monitors and assists the Accounting, Leasing and Operations Departments with respect to crucial dates and the obligations of landlord and tenant, respectively.

Job Responsibilities:

  • Review lease packages to ensure: (i) all documents required to be executed have been fully executed and appropriately dated; and (ii) package contains all relevant ancillary lease documents, such as security (letter of credit or cash), guarantee and/or certificate of insurance, and make sure same complies with lease provisions
  • Correspond with relevant persons if missing documentation or documentation not properly signed and/or dated to ensure receipt of full and proper documentation
  • Appropriately record and file lease packages (i) electronically and (ii) in hard copy files
  • Review lease abstracts to ensure key quantitative terms such as minimum rent amounts as well as key dates have been properly included in the abstract; advise abstract draftsman if error determined
  • Appropriately record and file abstracts (i) electronically and (ii) in hard copy files, if applicable
  • Review of all lease documents, including retail, office and broadcasting, and determine key dates, rents, escalations, options, security, guarantees and other key clauses
  • Input tenant lease, contact and billing information into Yardi property management database from lease documents and/or abstracts obtained from Legal including notifications on key dates (minimum rent step-ups, lease commencement and expiration dates, options, etc.)
  • Enter new tenant data into Yardi and changes to existing tenant information, pursuant to lease amendments, modifications, renewal agreements, etc.
  • Review tenant master regularly to determine duplicate entries or errors
  • Monitor lease compliance
  • Ensure appropriate security deposit is received (both the initial deposit as well as increases in the security deposit in accordance with the current lease), and monitor if any burn-down obligation
  • Monitor lease term and rent commencement dates, expiration dates, tenant move out, move in, vacancies and stacking plan
  • Monitor changes to rents, security deposits and any other monetary obligation by landlord or tenants
  • Revise tenant contact information, as necessary
  • Review and appropriately file TABs and be familiar with pending leases, renewals, etc.
  • Track all lease documents as executed to monitor leases signed, but not yet entered into Yardi
  • Monitor tenant options and landlord obligations with respect to any options and track expiration of landlord and tenant options and any conditions upon which options exist
  • Advise relevant departments/personnel of any notification requirements pertaining to landlord and/or tenant options
  • Monitor penalty dates with respect to substantial completion and lease commencement dates; keep applicable departments/personnel apprised of notification requirements to ensure all aware of landlord’s responsibilities with respect to substantial completion
  • Track status of substantial completion and correspond with relevant parties
  • Review all clauses related to landlord’s provision of electricity, water, air-conditioning and HVAC services and provide relevant personnel & providers with appropriate language from leases, modifications, renewals and any other applicable documentation
  • Correspondence with tenants to ensure compliance with lease obligations
  • Correspondence with other departments to discuss lease related matters
  • Send notices to tenants to advise/remind of upcoming deadlines, etc.

Qualifications:

  • Bachelor’s degree a plus
  • 2 + years in commercial leasing, preferably office
  • Proficient using Microsoft Office, particularly Microsoft Office and Excel
  • Background in administration
  • Familiarity with Yardi or similar real estate management system, such as MRI or JD Edwards
  • Detail oriented, team player, highly organized

This job description is not intended to be all inclusive and is subject to change by Empire State Realty Trust, Inc.

Apply Online