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Lease Administrator

CoreTechs

Sacramento, CA(remote)

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JOB DETAILS
SALARY
$1–$46 Per Hour
SKILLS
Accounting, Accounting Software, Accounts Payable, Accounts Receivable, Administrative Skills, Adobe Product Family, Analysis Skills, Balance Sheet, Billing, CAD/CAM (Computer-Aided Design/Computer-Aided Manufacturing), Commercial Real Estate, Communication Skills, Computer Skills, Conflict Resolution, Data Entry, Data Quality, Database Administration, Disbursements, Diversity, Documentation, Due Diligence, Easements, Finance, Financial Management, Financial Statements, Insurance, Insurance Documentation, Interpersonal Skills, Language Interpreter, Leadership, Leasing, Legal, Legal Documents, Maintain Compliance, Mentoring, Microsoft Excel, Microsoft Outlook, Microsoft PowerPoint, Microsoft Word, Negotiation Skills, Net Present Value (NPV), Operational Expenditure (OPEX), Organizational Skills, Policy Development, Policy Implementation, Presentation/Verbal Skills, Problem Solving Skills, Procedure Development, Procedure Implementation, Project Tracking, Project/Program Management, Property Maintenance, Property Management, Property Rentals, Real Estate, Reconciliation, Rental Listings, Rentals, Reporting Skills, Risk, Staff Training, Tableau, Time Management, Value Analysis, Vendor/Supplier Management, Writing Skills
LOCATION
Sacramento, CA(remote)
POSTED
5 days ago
Lease Administrator
Remote
  • Shift: Day 5x8-Hour (08:00 - 17:00)
  • THIS POSITION IS REMOTE
  • Must live within 100 Miles of Sacramento, CA
  • Possibility of going to on-site as needed
 
Note: MUST be legally authorized to work in the United States.
 
SUMMARY:
  • Interprets, abstracts, manages, and administers real estate leases and other contract documents for the company’s system-wide, including owned and non-owned properties and physician and nonphysician leases. Creates and produces reports in response to business needs, tracks status of lease transactions, notifies necessary parties of critical dates, prepares lease-related notices and communications, participates in due diligence reviews for real property acquisitions and dispositions, assists management in the resolution of issues/disputes with third party Tenants and Landlords, and attends to the execution and delivery of legal documents. Mentors and trains other staff in all key functions, processes and systems of the department. Oversees the update of database information, makes recommendations for process and procedures enhancements, and ensures accuracy of the data base records for the owned and leased real estate interests of the company and its affiliates, related companies, subsidiaries and joint ventures.
****Keys****
  • Commercial property experience – not residential or apartments
  • Lease administration skills vs property manager
  • Understands different commercial lease types, and the differences between Base Year, Gross and NNN Leases
  • Can conduct CAM and NNN reviews/audits – knows which costs are to be paid by the tenant vs the landlord
  • Understands how to calculate CPI increases and other escalations to base rent
  • Understands Options, Right of First Refusal, Right of First Offer, etc.
  • Understands insurance provisions in a lease
  • knowledge to understand and interpret general lease language
 
JOB ACCOUNTABILITIES:
Lease Administration and Abstraction
  • Reviews, interprets, analyzes, comprehends, and abstracts various types of real estate documents such as lease agreements, amendments, options, right of first offers, assignments, property purchase agreements and other legal agreements
  • Abstracts and audits all lease and real estate documents using a standardized lease abstracting protocol to capture all key lease data and payment schedules. Interprets and summarizes all salient lease data into the lease administration system
  • Interprets lease documentation to determine financial responsibility between Landlord and Tenant for building and premise operating costs; establishes recurrent payables and receivables schedules for the duration of the contract term
  • Determines, monitors, and reports to key stakeholders all critical lease dates, such as commencements, expirations, renewal, contraction critical dates, purchase agreements and options, and monitors and notifies all necessary parties, including updates to the lease administration system
  • Manages all Stark compliance reporting duties in accordance with SH Physician Lease Compliance Policy for all property and lease records; reports accurately and timely in both CoStar and TracT Manager; advises Real Estate and Office of General Counsel (OGC) of risk areas when noticed
  • Oversees all estoppel certificate and Subordination Non-Disturbance Attornment (SNDA) requests; completes critical lease information and data input for the forms for approval by OGC; ensures proper tracking of same
  • Manages all vendor set-up documentation; obtains correct W-9 and associated vendor ID’s from accounting; prepares all lease and contract files in standardized format; identifies and locates any missing file documents to assure Policy compliance
  • Maintains up to date knowledge of Lease Administration database fields, system, processes, and workflow
Financial Management
  • Coordinates monthly (or more frequent) payment of base rents, Common Area Maintenance (CAM), Triple Net Lease (NNN) and/or other operating expense costs for assigned real estate portfolio in accordance with the lease contract or other contract documents such as easement agreements, parking agreements, and reciprocal use agreements
  • Generates third party and physician charges, rent statements, insures accurate aged receivable reporting; calculates and implements accurate late fee and interest charges as applicable, and coordinates with legal counsel and the Real Estate management team on any unlawful detainer or other legal actions that may be taken
  • Reviews, audits, negotiates and resolves any erroneous billing, statement or non-contract compliant charges to maintain a continuous current reconciled account with each Landlord and Tenant
  • Ensures that all Consumer Price Index and other scheduled monetary increases are calculated accurately and implemented on time; resolves dispute with Landlord and Tenants
  • Ensures accurate balance sheet recording of security deposits; ensures proper refund calculations and disbursements upon lease expiration
  • Records, tracks and monitors compliance with the lease contract pertaining to Tenant Improvement allowances; ensures timely collection efforts with PM
  • Processes all Certificates of Insurance (COI) requests and compliance with contract documents through the SH Risk portal; coordinates any discrepancies and unusual requirements through the Risk department.
  • Acts as department liaison with all landlord and tenant vendors; prepares welcome packages, requests key information needed; establishes and maintains vendor data base within CoStar; coordinates with Finance to secure vendor numbers; and makes sure vendor information and #’s are accurate; no duplicates
Record Management and Reporting
  • Maintains the lease administration system files and hard copy files
  • Generates lease abstracts and reports in response to business needs, including monthly property reports and system level portfolio summaries as requested by Leadership
  • Analyzes building floor plans, stacking diagrams, and measurements in accordance with Building Owners Managers Association (BOMA) standards; links each property and lease record to the floor plan data and identify discrepancies and erroneous or misleading data relative to floor circulation, calculation of load factors, and rentable/usable determinations
  • Builds and maintains accurate building rent rolls showing occupied, non-occupied and available space and costs of same
Project Management
  • Works on special projects as they arise including assisting with market data; SCHEMS reporting, space availability research/reporting, Net Present Value analysis and such
  • Oversees, designs and integrates real estate data base with other data bases such as Lawson, Projecto, Tableau, Rosetta Stone
 
QUALIFICATIONS:
Education:
  • Equivalent experience will be accepted in lieu of the required degree or diploma
  • Required Education: Bachelor's
Typical Experience:
  • At least 5 years recent relevant experience
Skills and Knowledge:
  • Ability to interpret, understand, administer and explain real estate and lease documents
  • Computer proficient including working knowledge of Microsoft Word, Outlook, Excel, Power Point and Adobe products
  • Verbal and written communication skills. solid interpersonal and conflict resolution abilities
  • Communicates effectively with internal staff and external vendors including multiple levels of leadership & key stakeholders
  • Knowledge of accounting principles used in the preparation of financial statements and accounting system overview and internal control review
  • Self-motivated with ability to work independently with limited supervision and maintain clearly organized supporting documentation
  • Knowledgeable in writing and implementing policies and procedures
  • Ability to manage large workloads from various sources
 
We are an equal opportunity employer, and we are an organization that values diversity. We welcome applications from all qualified candidates, including minorities and persons with disabilities.
 
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About the Company

C

CoreTechs