Commercial Real Estate Lease Administrator
Company: MCB Real Estate LLC
Posted on: June 25, 2022
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
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
- 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
- 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
- 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,
- 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
- 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
- Ensure client compliance with the terms of their leases,
including issuing notices to tenants.
- Track important transaction dates to ensure timely
- Issue tenant notice related to the new tenant process
- Maintain a master property schedule of critical lease
- Early Termination Options
- Parking Restrictions - Special Parking Rights -Billing and
- Billing/collections of tenant rents
- Billing adjustments as needed requested by accountant, PM, or
- 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
- Issue collection letters, make collection calls, coordinate
with AM and legal for collection escalation needs
- Handle landlord communication where charges need to be
- 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,
- Scanning, data entry, cross-referencing, copying and retrieval
- 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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