The Leasing department is charged with the day-to-day oversight of leasing activities on the portfolio, considering the objectives and needs of the clients, owners and lenders with a focus on increasing revenue and occupancy at all of REDICO’s properties
The Lease Administrator position is designed to coordinate Leasing and marketing activities related to REDICO’s portfolio of properties, lease processing and data information for Tenants. The primary goal of this position is to ensure that all documentation related to leases are tracked and processed accurately. The Administrator coordinates all lease documents, collects and inputs data, provides financial, statistical, and other reports and analysis for the Leasing Department, Property Management, Asset Management, Acquisitions and Development and other departments as required within REDICO. The position is characterized by a high degree of responsibility, organizational skills, technical aptitude and diplomacy.
Job responsibilities include:
- Track and maintain all lease expirations, renewal options and other critical dates to ensure that all lease related timetables are tracked and actively managed. Communicate to appropriate REDICO Leasing Representative.
- Coordinate preparation of all lease documents (with inhouse or external legal counsel). Track work flow of documents to ensure completion within deadlines. Follow through until documents are fully executed by all parties. Legal documents include, but are not limited to: new leases, amendments, terminations, subleases, assignments, SNDA’s estoppels, and memorandum of lease.
- Prepare proposals in conjunction with REDICO Leasing Representative. Prepare Lease Proposal tracking sheets for Leasing Representative and Asset Manager review of historical negotiations.
- Assist in obtaining prospective tenants’ financial and other required information to evaluate new tenants.
- Maintain information on Landlord entity signature block and authorized Landlord signers.
- Maintain database of required approvals for lease execution (lender/partners). Coordinate lender/owner approval of lease as required.
- Distribute and process all documents after execution.
- Update / maintain suite & square footage data in MRI when lease / amendments are executed.
- Process security deposits and first month’s rent checks that are received.
- Maintain and track letter of credits.
- Provide support as needed regarding lease language interpretation.
- Input lease information into lease tracking systems including MRI and VTS.
- Preparation and processing of SNDA’s and Estoppel requests as needed.
- Preparation of tenant notices, commencement letters, certificates, etc.
- Maintain physical and electronic lease files.
- Review, monitor and update REDICO properties on CoStar, Loopnet and CPIX as needed. Run searches and market information from CoStar, Loopnet as needed. Administer REDICO’s CoStar subscription and evaluate cost/benefits for upgrading or downgrading.
- Process Tenant Move-Outs within MRI.
- Maintain leasing update report for reconciliation of monthly forecasting of leasing activities against the budget within due dates and parameters set.
- Coordinate and prepare leasing assumptions in conjunction with the Leasing Representatives on an annual & quarterly basis.
- Coordinate and prepare Leasing & Marketing Plans in conjunction with the Leasing Representatives for Asset Management’s annual business plans.
- Maintain Commission Agreement files for outside brokers. Prepare and process commission calculations for invoicing & payment.
- Research lease information as directed.
- Coordinate large tenant showings with Listing Broker and Property Management team.
- Maintain files of Floor Plans or Site Plans and assist Leasing team with updating for marketing purposes (in conjunction with REDICO space plan department).
- Tour and understand assigned properties.
- Provide administrative support to Leasing Department.
- Keep records of competitive rents in the market by Property.
- Participate in leasing update meetings with REDICO Leasing Representatives & outside brokers – as directed
- Maintain leasing activity reports for internal Leasing update meetings.
- Maintain strong rapport and work with REDICO Leasing representatives to establish marketing guidelines and procedures with listing broker(s) for each property, including RFP process, ordering signs and broker reporting.
- Assist with broker events; maintain friendly broker relationships.
- Prepare miscellaneous reports and correspondence.
- Set up and coordinate various meetings as needed to include ordering lunch, set up / clean up, etc.
- Possess a strong understanding of real estate document processing and operations.
- Understanding of commercial leases.
- Ability to work in a fast paced environment.
- Excellent Customer Service and Communication Skills. Effectively communicate with tenants, legal counsel, co-workers, supervisors, management.
- Strong computer skills, including Microsoft Office Excel and Word, Internet, MRI and VTS a plus.
- Strong organizational skills and ability to create and manage information databases.
- Strong attention to detail
- Minimum four years of experience in the real estate industry.
With a client service focus provide accounting, analytical, operational, and investment analysis integral to the successful management of various assets/portfolios. This position is a key function that adds to the Organization’s ability to provide excellent client services to investors, management, and other functional areas of the Organization.
Compilation and analysis of timely and accurate financial statements in accordance with GAAP, cash or other comprehensive basis of accounting as pertains to real estate and the commercial management industry.
Generate annual work papers and support schedules for outside CPA firm for year-end tax returns, audits and financial statements.
Complete complex expense recovery, CPI and other rent escalations.
Partner with Operations to complete the preparation and maintenance of annual business plan, monthly reforecast, cash flow projections, analyses and financial reports.
Manage asset/portfolio capital reserves, assets, and expenditures by monitoring revenue, expenses, payables, receivables, and capital expenditures.
Understand and navigate complex lease documents, financing agreements and investment structures for preparation of financial analysis to monitor and report on the performance of the asset/portfolio using Key Performance Indicators (KPI) and financing covenants.
Develop various ad hoc financial models and analysis integral to the asset/portfolio cash flow management, financing, leasing, operations, and investor relations.
Prepare lease analysis including the calculation of lease termination payment along with calculating the financial impact of prospective new leases, renewals and expansions as it relates to the asset/portfolio.
Utilize MRI Enterprise software for financial modeling and forecasting quarterly, annually and/or on an as needed basis.
Recommend improvements to the Organization's accounting function to further enhance both internal and external client relations.
Candidate must possess a bachelor’s degree in accounting and a minimum 5 years of experience in the commercial real estate industry. CPA or MBA required or equivalent experience.
To be successful in this role the candidate is required to:
- Be Deadline/Goal Oriented
- Possess advance knowledge of accounting and financial concepts such as leveraged and unleveraged IRR, ROE, NPV, and debt service coverage ratio.
- Practice strong critical thinking skills
- Possess excellent communication skills
- Apply sound business judgment
- Exhibit leadership skills such as accountability and the ability to guide and orient others.
- Possess excellent written and verbal communication skills.
- Work independently while achieving team goals.
- Manage multiple projects
Experience with real estate accounting software (MRI preferred). Experience with Budgeting and Forecasting software required.
Provide financial and administrative support for the Accounting team in a fast-paced environment with a client service focus. This role includes processing a high volume of invoices, monitoring aged invoices, and performing other accounting and administrative tasks within the Accounts Payable Department.
Ensure invoices batch daily from electronic invoice approval system into accounting software.
Process vendor invoices using an electronic invoice approval system.
Ensure timely and accurate payment processing in accordance with weekly schedule.
Update Accounts Payable daily for wire and auto-debit payment information.
Generate reports from multiple software programs at various times throughout the month.
Process tenant credit card payments as requested by the communities.
Process entertainer reimbursements on a monthly basis.
Review vendors' monthly statements; check for accuracy; ensure all invoices/credits have been received.
Maintain vendor records, including W-9 and current insurance certificates.
Maintain a 24 hour response time to inquiries from internal team and external vendors.
Prepare bank reconciliations on a monthly basis.
Prepare 1099 and 1096 annual reporting.
Adjust monthly recurring invoice amounts.
Perform month end close by reviewing reports for accuracy prior to posting to the general ledger.
Perform other related duties as needed to assist the Accounting team in providing excellent customer support for investors, management, and other areas within the organization.
Candidate must possess associate’s degree in accounting or be currently pursuing.
Five years of previous Accounts Payable experience preferred.
In addition to the above the candidate is required to:
- Be Deadline/Goal Oriented.
- Exhibit excellent verbal and written communication skills.
- Take initiative.
- Work independently while achieving team goals.
- Manage multiple projects.
- Be detail oriented.
- Apply sound business judgment.
- Excel in a fast-paced environment.
Experience with MS Office software required. Yardi and Nexus software a plus.