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Commercial Real Estate Lease Administrator

Company: MCB Real Estate LLC
Location: Baltimore
Posted on: June 25, 2022

Job Description:

MCB Real Estate is a privately held, institutionally capitalized commercial real estate investment firm that acquires, develops, manages, and capitalizes assets in retail, industrial, office, multifamily, and mixed-use sectors.
MCB Real Estate currently owns and operates approximately 10 million square feet of commercial real estate and has achieved a notable and sustained record of success in maximizing returns through successful employment of multiple strategies with a focus on value-add/opportunistic, core/core plus and net-leased investments.MCB Real Estate is seeking an experienced Lease Administrator to join our growing team. MCB Real Estate is a Baltimore based, privately held, institutionally capitalized commercial real estate investment firm that makes select investments in retail, industrial, and office assets.
MCB provides equal employment opportunities to all employees and applicants for employment and prohibits unlawful discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws.
Additionally, we are committed to fostering, cultivating and preserving a culture of diversity, equity and inclusion. -We embrace and encourage our employees' differences in age, color, disability, ethnicity, family or marital status, gender identity or expression, language, national origin, physical and mental ability, political affiliation, race, religion, sexual orientation, socio-economic status, veteran status, and other characteristics that make our employees unique.This employment practice applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
Responsibilities Our Lease Administrator reports to the Manager - Lease Administration and is responsible for the full scope of Lease Administration services including; abstracting and interpreting commercial lease documents (leases, amendments, subleases), billings, collections and tenant lease compliance matters. -Abstracting & Lease Data Management:

  • Set-up new tenants
  • Read and interpret leases, complete abstracts, and work with the finance team to ensure accuracy of lease accounting for financial reporting
  • Tracking and maintaining critical dates, including timely issuance all notices requirements, from pre-opening through opening and eventual termination.
  • Provide analysis of lease terms (co-tenancy clauses, termination rights, assignments and subleases, landlord and tenant responsibilities, etc.)
  • Create and distribute critical date ticklers on a monthly basis for tracking dates of lease expirations, option notices and rent increases (all such items should be accurately included in the MRI database), to ensure compliance with the terms of the leases
  • Ensure terms are accurately documented on official forms and records
  • Set up recovery pools
  • Data entry and management of lease
  • Ongoing maintenance of database of lease information and abstracts upon the occurrence of amendments, new locations, expirations, etc.
  • Update tenant information, status and dates
  • Update recurring charges (rents, CAM estimates, etc.) -Reporting and communications:
    • Rent variance analysis and rent payment processing to ensure accuracy and lease compliance
    • Financial analysis as needed
    • Respond to questions from internal staff and tenants regard to procedures, lease interpretation, and billing calculations, and lease compliance issues.
    • Work with partners/external clients would include maintaining lease summaries, recurring payments spreadsheets and pending items reports, and maintaining property lease files according to established standards
    • Client/landlord relationship management
    • Prepare written correspondence to tenants and clients
    • Client/vendor/landlord relationship management
    • Answer lease related questions
    • Provide regular and frequent status reports to all parties
    • Coordinate with the Property Managers for the timely submission of tenant surrender forms and other lease updates prior to running the monthly rent roll.
    • Prepare and review monthly rent roll reports for accuracy.
    • Review rental statements and invoices for accuracy, as well as for extra service charges which require verification against the lease.Lease Compliance:
      • Ensure client compliance with the terms of their leases, including issuing notices to tenants.
      • Track important transaction dates to ensure timely completion
      • Issue tenant notice related to the new tenant process
      • Maintain a master property schedule of critical lease clauses:
      • Co-Tenancy
      • ROFO
      • ROFR
      • Early Termination Options
      • Parking Restrictions - Special Parking Rights -Billing and Collections:
        • Billing/collections of tenant rents
        • Billing adjustments as needed requested by accountant, PM, or AM
        • Issue accurate and timely billings to Tenants
        • Resolution of rent and other landlord/tenant issues
        • Preparation and review of annual landlord reconciliation statements for operating expenses and real estate tax calculations to ensure accuracy and lease compliance (calculate actual recovery expenses for each tenant, and review caps, base years, and non-standard exclusions)
        • Issue collection letters, make collection calls, coordinate with AM and legal for collection escalation needs
        • Handle landlord communication where charges need to be challenged
        • Review, as well as prepare Consumer Price Index adjustments as provided for in commercial leases.
        • Ensure that the Percentage Rent or Gross Sales provisions of the leases are adhered to. Maintain the integrity of lease data file systems -Due Diligence:
          • Set up new property records after purchase
          • Prepare Estoppels
          • Draft SNDAs
          • Prepare due diligence (rent rolls, outstanding TIs, commissions)
          • Scanning, data entry, cross-referencing, copying and retrieval -Qualifications:
            • Minimum 3 years of lease administration experience in commercial property management preferred.
            • Proficiency with MRI real estate software preferred
            • Proficient in Microsoft Office365; Excel, Word, Outlook
            • Must be able to set and meet independent deadlines while working closely with senior management.
            • Effective oral and written communication skills, as well attention to detail and accuracy when completing the duties and responsibilities of this position.
            • Operate under the highest ethics and trustworthiness.
              Education: -Minimum Associates degree from accredited institution; Bachelor's degree preferred

Keywords: MCB Real Estate LLC, Baltimore , Commercial Real Estate Lease Administrator, Accounting, Auditing , Baltimore, Maryland

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