Lease Administrator
Meadows & Ohly continues to differentiate ourselves in the market by our commitment to our core values – impeccable integrity, enthusiastic hard work and long-term relationships, all of which drive us to do what is best, not what is easiest. Our most important asset continues to be our exceptional people; they each play an integral role in our company and the sustainability of our mission and values. Thank you for your interest in working with Meadows & Ohly!
Position Location:
Alpharetta, GA
Position Summary:
Responsible for ensuring all lease information is captured and input into the property management database, perform accounting and financial related functions pertaining to leases and provide support to the Lease Advisory Department.
Essential Duties and Responsibilities:
Comprehend and abstract real estate lease documents, summarizing all key financial and non-financial related covenants.
Ensure all abstracted lease data is captured and entered accurately into property management database including tenant billing information, lease dates, square footage, recurring charges, lease options, special stipulations, etc.
Proactively track and manage critical dates within a lease.
Interact and communicate professionally with other real estate team members regarding lease administration issues and/or database issues.
Review recovery clauses; calculate actual recovery expenses for each tenant and review caps, base years, gross-up language, pro-rata share definitions and non-standard exclusions.
Prepare monthly rent rolls and reconcile rent variances for Lease Advisory clients.
Calculate monthly funding requests for owned and leased properties.
Verify percentage rent calculations.
Perform tenant lease audits and calculate retroactive billing adjustments when necessary.
Coordinate with Property Managers for the timely submission of tenant acceptance or surrender forms and other lease updates.
Notify Property Managers of expiring leases prior to running monthly lease expiration reports.
Calculate and enter current and future monthly rental payment schedules for tenants.
Review 3rd party owner/landlord rental statements and invoices for accuracy, including recurring rent and additional rent charges, tenant bill backs, and other miscellaneous charges.
Reconcile annual tax, insurance and OPEX pass-through tenant charges.
Analyze tenant accounts with outstanding balances and work with Property Managers, tenants and landlords to resolve billing disputes and prevent future discrepancies from occurring.
Prepare twelve month and five-year rental income/expense projections; Assist with annual budget including estimated tenant passthrough charges.
Review and maintain Consumer Price Index tables and process annual CPI rent escalations.
Calculate leasing commissions and/or brokerage fees.
Prepare rental expense allocations involving multiple cost centers and calculate prorated rent.
Ad-Hoc Financial Analysis involving leases (amortization schedules, early terminations, cost/benefit, etc.)
Compose a variety of correspondence; review finished materials for completeness, accuracy, format, grammar, and appropriate English usage.
Maintain lease files, abstracts, and support.
Schedule electronic delivery of tenant invoices each month using PM database.
Request W-9’s from 3rd party landlords and update vendor remit to addresses.
Summarize 1099 rent payments for Lease Advisory clients.
Update monthly changes to tenant improvement allowances.
Request information from clients including new department codes, work order approvals, etc.
Code and enter A/P invoices for Lease Advisory assignments.
Assist in preparation of monthly financial reports.
Participate in monthly client meetings.
Help prepare annual business plans for the Lease Advisory department.
Knowledge, Skills, and Abilities:
Proficient in Microsoft Office including Word, Excel, PowerPoint and Outlook.
Excellent interpersonal and communication skills
Ability to multi-task and consistently meet deadlines
High level of accuracy
Analytical Skills
Attention to detail
Minimum Qualifications:
Bachelor’s Degree from an accredited college or university, preferably in Accounting, Finance or Real Estate.
3-5 years of Commercial Lease Administration experience preferred.
Physical Demands:
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
While performing the duties of this job, the employee is regularly required to use hands and fingers to handle or feel; reach with hands and arms; talk and hear. The employee frequently is required to sit. The employee is occasionally required to stand and walk. The employee must occasionally lift and/or move up to 25 pounds. Specific vision abilities required by this job include close vision, distance vision, color vision, and ability to adjust focus.
Working Environment:
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
The noise level in the work environment is usually moderate.
About Meadows & Ohly, LLC
Meadows & Ohly is a comprehensive real estate services firm that has served the healthcare industry since 1972. The Meadows & Ohly team brings a powerful combination of strategic expertise and operational knowledge to every engagement, with an overarching focus on creating environments that support better healthcare.