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Lease Administrator 1
3 months ago
POSITION SUMMARY:
An integral role in the Property Management Department that is responsible for a variety of tasks and processes that ensure: (i) lease and property data is accurately and efficiently entered into MIMCO’s Yardi database; (ii) rent and additional rent for MIMCO’s 1,800+ tenants is charged correctly and collected timely; and (iii) Tenants and Landlords maintain compliance with their respective lease obligations.
ESSENTIAL FUNCTIONS:
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. (Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.)
Department Process Oversight
- Review tenant notices prepared by Property Managers and Property Manager Assistants including, but not limited to, default notices, reconciliation statements, and percentage rent notices.
- Oversee and ensure timely progression of PM Department processes including tenant rent collections, lease extension data entry, payment of MIMCO and third-party broker leasing commissions, and tenant moveout procedures.
- Advise and remind Property Managers and Department executives of any large outstanding balances that require immediate attention on a weekly basis.
- Assist Property Management supervisors with reviewing and adjusting, when necessary, departmental procedures, checklists, and practices to ensure compliance with legal and company requirements as they change from time to time.
Portfolio Triple Net Reconciliation Management
- Prepare annual CAM, insurance, and real estate tax expense reconciliation reports. Lease Administrator I’s are expected to complete a minimum of 50 reconciliation reports for low difficulty properties prior to the project deadline in their first year and take on more difficult properties each year thereafter.
- Calculate and prepare annual insurance and tax reconciliation invoices for tenants that pay annually and track that such balances are collected timely.
- Calculate and prepare mid-year reconciliation invoices for tenants that move out in the middle of a year.
- Manage tenant reconciliation disputes and assist Property Managers with reconciliation-related inquiries and requests from tenants.
Yardi Database Auditing and Management
- Assist with Yardi onboarding process for newly acquired properties, deboarding sold properties and internal property transfers in close collaboration with Department Executives and the Acquisitions and Dispositions department.
- Audit entry of new lease data in MIMCO’s Yardi database to ensure lease terms, rent schedules, percentage rent terms, and other critical dates and data are entered accurately.
- Audit entry of newly signed lease documents including, but not limited to, lease amendments, extensions, assignments, termination agreements, and reinstatement agreements to ensure all critical data are entered into Yardi accurately.
- Audit Yardi database to confirm accuracy and completion of lease move out process.
- Manage property insurance module in MIMCO’s Yardi database. Reach out to tenants on an annual basis to obtain updated certificates of property insurance and enter relevant data in Yardi.
Internal Operations and Financial Reporting
- Generate and compile rent collection and aging reports on a monthly basis for financial and operational reporting for MIMCO executives and other stakeholders.
- Assist with preparation of lease-related financial reports and documentation for budgeting and forecasting purposes.
- Review and abstract lease agreements, amendments, assignments, and other related documents.
- Prepare lease ledger audits with detailed breakdowns of balances as requested by MIMCO/Department executives.
- Review and post charge batches to tenant ledgers as submitted by the Maintenance Department.
- Track and assist with resolution of balances owed by former tenants.
- Provide shared water charge and triple net charge quotes as requested by the Leasing Department.
- Request payment remittances from tenants as needed in collaboration with the Accounting Department.
COMPENSATION AND BENEFITS
Pay: The position of Lease Administrator 1 is compensated on an hourly basis, at a rate determined by management of MIMCO, commensurate with candidate experience and qualifications.
In addition, MIMCO provides the following benefits to eligible employees:
- Health insurance coverage
- Dental insurance coverage
- Vision insurance coverage
- Life insurance coverage
- 401(k) plan
- 401(k) matching
- Short- and long-term disability plan
- Paid Time Off
- Flexible spending accounts
EQUAL EMPLOYMENT OPPORTUNITY
MIMCO. is an equal opportunity employer and makes employment decisions without regard to race, color, religion, sex, national origin, citizenship, age, disability or any other protected trait.
COMPANY OVERVIEW
MIMCO was founded in 1972 to provide real estate investment and property management services in El Paso, Texas. Over the last 50 years, our managed portfolio has grown to include approximately 325 properties across Texas, New Mexico, and Arizona, with a focus on shopping centers.
MIMCO is unique in a few significant ways. Most notably, MIMCO only manages properties in which we have a vested interest, so we take great pride and extra care to ensure our properties are well maintained and that we are responsive to tenants’ needs. This strategy has been the key to our success, drawing in regional and national tenants and leading to repeat business with companies like Starbucks, Big Lots, Peter Piper Pizza and countless local small businesses in El Paso, Las Cruces, San Antonio, Corpus Christi and beyond.
Additionally, our business has evolved over the years into a full-scale real estate investment, development and management company. In addition to property management, our teams provide services including:
- Business development and property acquisition/disposition;
- Planning, design and construction;
- Leasing and marketing;
- Property management and maintenance;
- Debt and equity origination and placement;
- Investor relations and financial reporting;
- Legal services from contract review and negotiation to litigation management.
MIMCO is invested in building and developing the communities where we live and work, and is always looking for talented, passionate, capable people to join our team. If you are interested in pursuing a career with MIMCO, begin your search for open positions here.
MINIMUM EDUCATION:
- High school diploma or equivalent education
- Bachelor’s degree in Accounting or Finance preferred
MINIMUM EXPERIENCE:
- Three (3) years of experience in commercial real estate
- Experience with Yardi Voyager software
- Two (2) years of Accounting-related experience
MINIMUM SKILL REQUIREMENTS:
- Ability to manage multiple tasks and prioritize tasks while maintaining flexibility
- Excellent oral and written communication skills
- Expert interpersonal skills, allowing for clear communication with colleagues, tenants, owners, etc., while exercising tact and diplomacy
- Exceptional organizational skills and attention to detail
- Problem solving and conflict resolution skills
- Team player with the ability to work self-directed and proactively
- Proficiency in Microsoft Office, including Word, Excel and Outlook
