Lease Administrator

4 weeks ago

Bethesda, Maryland, United States FIRST WASHINGTON REALTY LLC Full time
Job Summary

The Lease Administrator is responsible for the full administrative function in connection with the execution, verification, compilation, and organization of the company's leases and lease-related documents and documents ancillary thereto. This role is central to ensure the timely and accurate execution and maintenance of the tenant lease documents. Requiring not only both excellent organizational skills and an eye for detail, this function also benefits from someone who is proactive and good at interacting with a variety of individuals from different departments within the organization to ensure proper handling of the execution and filing process.

Key Responsibilities
  • Ensure final deal terms in Lease documents are consistent with the deal as approved internally and re-route for approval, if necessary.
  • Identify key dates in executed Lease documents and input them into tracking system accurately and timely.
  • Determine amounts due in connection with the execution of a lease document (e.g., Security Deposits, Rent Deposits, etc.).
  • Track receipt of Security/Rent Deposits for new Leases and any amounts due in connection with other Lease documents (e.g., assignment fees).
  • Administer the execution process of lease documents, including identifying and collecting all relevant information and materials required for execution, ensuring entities and signature blocks are properly handled, identifying signatories and contact information, and circulating the lease documents for execution by the parties in the manner required (e.g., DocuSign, hard copy, arranging notaries as needed, etc.).
  • Coordinate document execution, including following-up with signatories to facilitate timely execution.
  • Quality control receipt of executed documents to ensure proper execution and completeness of document file.
  • Properly tag and file executed documents in the appropriate locations in SharePoint or hard file, as appropriate, including tracking and ensuring documents held in a pending digital file area are moved into the final filing area timely.
  • Assess tenant eligibility to exercise lease option upon receipt of Tenant notice of exercise, which involves researching the lease document for conditions, and communicating with leasing and property management teams to verify satisfaction of conditions. Draft follow up correspondence (renewal notice or rejection response, as applicable).
  • Circulate post-closing confirmation documentation (the "Notice of Lease" or "NOL") timely.
  • Track and anticipate upcoming lease option renewal dates. Update appropriate internal departments accordingly, including preparing and disseminating a monthly status report regarding same (in format to be coordinated with leasing team head).
  • Prepare lease summaries and abstracts for new leases and amendments.
  • Assist in preparation of leasing agreements/listing agreements. Prepare termination notices for leasing agreements using the form template for same.
  • Responsible for upkeep and accuracy of the tenant lease document files.
  • Assist Capital Markets Group as follows:
    1. Prepare and follow-up on lender consent requests.
    2. For certain lenders, send lender copies of all new executed lease documents within required time.
  • Other projects as assigned from time to time.
Requirements
  • Associate's degree required; Bachelor's degree preferred.
  • 2-5 years of work experience in lease administration, real estate accounting, or property management with exposure to commercial leases.
  • Prior experience with using a lease administration database preferred.
  • Ability to interpret commercial lease language.
  • Ability to maintain strong attention to detail with a continued high efficiency and accuracy rate for performing work/tasks.
  • Ability to proactively spot potential issues and coordinate with the appropriate parties to resolve.
  • Ability to understand and interpret data and use of relevant technology in connection with lease administration function.
  • Desire to learn, grow, and develop.
  • Excellent organizational skills and attention to detail.
  • Excellent written and verbal communication.
  • Must be comfortable working both independently and in a team environment.
  • Proficiency in Microsoft Office applications, SharePoint, DocuSign, and Adobe; experience with MRI a plus.
Physical and Environmental Requirements
  • Requires the use of a computer screen for extended periods.
  • Occasional lifting of 15 to 20 lbs.
  • Extended working hours may be necessary.

The above statements are intended to describe the general nature and level of work being performed by the individual(s) assigned to this position. They are not intended to be an exhaustive list of all duties, responsibilities, and skills required. Management reserves the right to modify, add, or remove duties and to assign other duties as necessary.

First Washington Realty is an equal opportunity employer and does not discriminate on the basis of race, color, religion, national origin, gender, gender identity, sexual orientation, age, marital status, veteran status, disability status, or any other status protected by law.

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