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Become A Lease Administrator

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Working As A Lease Administrator

  • Making Decisions and Solving Problems
  • Interacting With Computers
  • Communicating with Supervisors, Peers, or Subordinates
  • Resolving Conflicts and Negotiating with Others
  • Organizing, Planning, and Prioritizing Work
  • Unpleasant/Angry People

  • Mostly Sitting

  • $55,380

    Average Salary

What Does A Lease Administrator Do At Office Depot

* The Senior Lease Administratoris responsible for ensuring Company rights, obligations, and opportunities for non-real estate leases are accurately reflected and properly accounted for in the Company's books and records.
* The senior administrator will be responsible for review and management of the more complex asset leases and the detailed inventory management of the leased asset portfolio.
* The administrator will coordinate the fleet management of the leased assets with the business units and ensure accuracy and completeness of the inventory movement.
* Further, this position will ensure that a productive Vendor relationship is maintained in accordance of the lease agreements.
* Additionally, the senior administrator will perform the abstraction of lease data and payment schedule setup and will reconcile the vendor statements to the lease sub-ledger.
* Maintaining the integrity of the lease database designed to facilitate programs dependent on asset lease data and the associated lease documentation will also be a requirement of this position.
* The senior administrator is expected to partner with various departments to validate both financial and non-financial lease data, including reconciliation of the asset fleet lease inventory sub-ledger to the financial systems.
* In addition, this position will coordinate accounting adjustments and assist the Accounting team with sub-ledger validations to ensure all leased assets are properly accounted for in accordance with generally accepted accounting principles

What Does A Lease Administrator Do At LKQ Corporation

* Inputs Property Leases into Property Manager
* Work with implementation team on new real estate-accounting software.
* Oversees and maintains Straight-line leases.
* Works with Analyst in problem solving accounting issues relating to property leases.
* Compile and verify quarterly reports for Corporate.
* Maintains Budget summary for each property location for P&L guidance.
* Create tracking system for property metrics (Sft, acre, etc.) and maintain a current database of Company real estate locations.
* Work with Director to establish standards and metrics on Company facilities.
* Assume other duties as assigned.
* Job Requirements

What Does A Lease Administrator Do At Burlington

* Analyze Landlord reconciliations of operating expenses including CAM, Real Estate Taxes, Utilities and Insurance in a timely manner.
* Confirm billings are in accordance with the lease terms and conduct a thorough desktop audit including verifying the pro-rata share, credit for monthly escrows, and evaluate for reasonableness with prior period reconciliations.
* Review and reconcile monthly statements from Landlords.
* Research and resolve any discrepancies to reconcile the account.
* Evaluate escrow changes and adjust monthly payment amounts accordingly.
* Process audit findings and reimbursements as necessary.
* Responsible to enter payment data into the Lease Administration system in preparation for the generation of checks for all remittances including Rent, Percentage, and Additional Rent payments.
* Ensure all processed invoices and new leases comply with company policies and Sarbanes Oxley requirements.
* Responsible to enter monthly accrual data.
* Administration Compliance:
* Negotiate audit findings with Landlords through resolution.
* Work with and assist Landlords and Tax Attorneys on appeals as necessary.
* Responds to internal and external inquiries in a timely manner, maintaining professional and courteous relationship with coworkers and landlords.
* Identify, execute and/or support PIC initiatives.
* Maintain correspondence with Burlington’s Landlords including all necessary follow up.
* Assist the Lease Administration team to validate Estopple Certificates and SNDA’s as necessary.
* Maintain paid files for all occupancy costs.
* Assist with lease abstracts as needed.
* Scan and index all lease related documents in electronic file as necessary.
* Special projects as needed.
* Scope and Impact:
* Administer the Occupancy Cost audits to meet the financial objectives including the ability to identify areas of expense reduction and dispute landlord charges when applicable to maximize savings to Burlington

What Does A Lease Administrator Do At Berney Office Solutions

Assist sales team with pulling quotes, buyouts/upgrade options, maintenance volumes and end-of-term options for prospective customersProcess credit applications and open ordersTroubleshoot customer issues over the phone while working with various leasing companiesBilling of all equipment deals for the Birmingham locationVerify paperwork and obtain credit approval for all dealsComplete a wide array of reports that have assigned deadlinesComplete all tasks in an accurate and time-sensitive mannerAssisting other locations when their lease administrator is off workAssisting branch manager with

What Does A Lease Administrator Do At Fresenius Medical Care North America

* Acting on behalf of the company, reviews, edits and revises Subordination and Non Disturbance Agreements (SNDA’s), Estoppels and Commencement Date Certificates drafted by landlords or their counsel ensuring conformity to FMCNA requirements, standards,policies and procedures.
* Negotiates, drafts and executesEstoppels, SNDA’s and Commencement Date Certificates when appropriate.
* Closely scrutinizes the documents to ensure that all items in the documentation represent the company’s best interests.
* Works with the pertinent outside party – landlordsand/ or their counsel – to make the appropriate language modifications toensure required FMCNA language is incorporated in the documents according to the established standards.
* Refers complex issues and provisions to the Legal Department working with them to ensure that any concerns are addressed and resolved accordingly.
* Conducts due diligence, collaborating with appropriate management and executives, to ensure their issues and concerns are addressedin the documentation making the adjustments and changes to the documentation and language as applicable utilizing FMCNA standard terms and language.
* Manage relationships with Legal, Transaction Managers, Project Managers, Landlords, Lawyers, Real Estate Brokers, Tenets etc.
* Identifies high risk issues in the legal documents (such as SNDA’s and Estoppels) and bring them to the attention of the Corporate Law Departmentfor further assessment and direction.
* Identifies and interprets complex Lease Clauses as needed by internal departments and field staff.
* Manages workload to ensure urgent matters are identified and expedited to meet the necessary deadlines.
* Other duties related to Lease Administration as assigned.
* Additional responsibilities may include focus on one or more departments or locations.
* See applicable addendum for department or location specific functions

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How To Become A Lease Administrator

Although many employers prefer to hire college graduates, a high school diploma or equivalent is enough for some jobs. Some managers receive vocational training. Other managers must have a real estate license.

Education

Many employers prefer to hire college graduates for property management positions, particularly for offsite positions dealing with a property’s finances or contract management. Employers also prefer to hire college graduates to manage residential and commercial properties. A bachelor’s or master’s degree in business administration, accounting, finance, real estate, or public administration is preferred for commercial management positions. Managers of commercial properties and those dealing with a property’s finances and contract management increasingly are finding that they need a bachelor’s or master’s degree in business administration, accounting, finance, or real estate management, especially if they do not have much practical experience.

Work Experience in a Related Occupation

Experience in real estate sales is a good background for onsite managers because real estate salespeople also show commercial properties to prospective tenants or buyers.

Licenses, Certifications, and Registrations

Real estate managers who buy or sell property must have a real estate license in the state in which they practice. In a few states, property and community association managers must also have a real estate license. Managers of public housing subsidized by the federal government must hold certifications.

Property, real estate, and community association managers working in Alaska, Colorado, California, Connecticut, Florida, Georgia, Illinois, Nevada, Virginia, and the District of Columbia are required to obtain professional credentials or licensure. Requirements vary by state, but many managers working in states without requirements still obtain designations to show competence and professionalism. BOMI International, the Community Associations Institute, the Institute of Real Estate Management, the National Association of Residential Property Managers, and the Community Association Managers International Certification Board all offer various designations, certifications, and professional development courses. Most states require recertification every 2 years.

In addition, employers may require managers to attend formal training programs from various professional and trade real estate associations. Employers send managers to these programs to develop their management skills and expand their knowledge of specialized fields, such as how to operate and maintain mechanical systems in buildings, how to improve property values, insurance and risk management, personnel management, business and real estate law, community association risks and liabilities, tenant relations, communications, accounting and financial concepts, and reserve funding. Managers also participate in these programs to prepare themselves for positions of greater responsibility in property management. With related job experience, completing these programs and receiving a satisfactory score on a written exam can lead to certification or the formal award of a professional designation by the sponsoring association. 

Advancement

Many people begin property management careers as assistant managers, working closely with a property manager. In time, many assistants advance to property manager positions.

Some people start as onsite managers of apartment buildings, office complexes, or community associations. As they gain experience, they may advance to positions of greater responsibility. Those who excel as onsite managers often transfer to assistant offsite property manager positions, in which they gain experience handling a broad range of property management responsibilities.

The responsibilities and pay of property, real estate, and community association managers increase as these workers manage more and larger properties. Property managers are often responsible for several properties at a time. Some experienced managers open their own property management firms.

Important Qualities

Customer-service skills. Property, real estate, and community association managers must provide excellent customer service to keep existing clients and expand their business with new ones.

Interpersonal skills. Because property, real estate, and community association managers interact with people every day, they must have excellent interpersonal skills.

Listening skills. Property, real estate, and community association managers must listen to and understand residents and property owners in order to meet their needs.

Organizational skills. Property, real estate, and community association managers must be able to plan, coordinate, and direct multiple contractors at the same time, often for multiple properties.

Problem-solving skills. Property, real estate, and community association managers must be able to mediate disputes or legal issues between residents, homeowners, or board members.

Speaking skills. Property, real estate, and community association managers must understand leasing or rental contracts and must be able to clearly explain the materials and answer questions raised by a resident or group of board members.

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Lease Administrator jobs

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Lease Administrator Career Paths

Lease Administrator
Administrative Manager General Manager Property Manager
Asset Manager
7 Yearsyrs
Leasing Manager Leasing Director Assistant Property Manager
Assistant Community Manager
5 Yearsyrs
Specialist Security Officer Night Auditor
Assistant General Manager
5 Yearsyrs
Staff Accountant Payroll Administrator Human Resources Coordinator
Business Office Manager
8 Yearsyrs
Accountant Business Manager
Business Operations Manager
8 Yearsyrs
Specialist Phlebotomist Collections Specialist
Collections Manager
5 Yearsyrs
Project Coordinator Operations Manager Property Manager
Communications Manager
6 Yearsyrs
Administrative Manager Operations Manager Purchasing Manager
Contracts Manager
9 Yearsyrs
Accountant Account Manager Property Manager
Director Of Property Management
9 Yearsyrs
Real Estate Manager Asset Manager Assistant Vice President
Executive Vice President
11 Yearsyrs
Project Coordinator Business Analyst Senior Finance Analyst
Finance Manager
7 Yearsyrs
Real Estate Agent Licensed Practical Nurse Residence Director
Housing Director
6 Yearsyrs
Project Manager Marketing Manager Property Manager
Properties Supervisor
6 Yearsyrs
Leasing Manager Sales Manager Realtor
Property Management Specialist
6 Yearsyrs
Real Estate Manager General Manager
Property Manager
6 Yearsyrs
Staff Accountant Business Manager Property Manager
Real Estate Manager
8 Yearsyrs
Project Manager Engineering Manager Facilities Manager
Regional Facilities Manager
11 Yearsyrs
Property Manager Regional Manager Operations Manager
Regional Operation Manager
9 Yearsyrs
Real Estate Agent Sales Consultant Leasing Consultant
Resident Manager
5 Yearsyrs
Property Manager Communications Manager Marketing Manager
Senior Manager
10 Yearsyrs
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Lease Administrator Demographics

Gender

  • Female

    76.9%
  • Male

    21.1%
  • Unknown

    2.0%

Ethnicity

  • White

    79.5%
  • Hispanic or Latino

    11.5%
  • Asian

    6.7%
  • Unknown

    1.8%
  • Black or African American

    0.5%
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Languages Spoken

  • Spanish

    54.1%
  • French

    4.9%
  • Mandarin

    4.9%
  • Chinese

    3.3%
  • German

    3.3%
  • Hindi

    3.3%
  • Arabic

    3.3%
  • Italian

    3.3%
  • Russian

    1.6%
  • Hungarian

    1.6%
  • Telugu

    1.6%
  • Gujarati

    1.6%
  • Marathi

    1.6%
  • Albanian

    1.6%
  • Japanese

    1.6%
  • Urdu

    1.6%
  • Dari

    1.6%
  • Carrier

    1.6%
  • Armenian

    1.6%
  • Polish

    1.6%
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Lease Administrator

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Lease Administrator Education

Lease Administrator

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Top Skills for A Lease Administrator

RealEstateTaxLeaseDataCommonAreaMaintenanceEnsureComplianceLeaseAdministrationRealEstatePortfolioLandlordsFinancialReportsLeaseDocumentsPropertyManagementAuditLeaseAgreementsLegalDocumentsMonthlyRentEstoppelCertificatesCustomerServiceAbstractLeasesOccupancyRentPaymentsAsset

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Top Lease Administrator Skills

  1. Real Estate Tax
  2. Lease Data
  3. Common Area Maintenance
You can check out examples of real life uses of top skills on resumes here:
  • Processed operating expense and real estate tax reconciliations for office and retail properties.
  • Converted lease data from MS Excel to MS Access resulting in $20,000 savings to the company.
  • Responded to tenant inquiries, reviewed the Common Area Maintenance (CAM) reports to ensure accuracy of annual automated billings.
  • Performed data validation and metric activities on various reports to ensure compliance among leasing, financial, and inventory data.
  • Received the Outstanding Service Award 2011 in Lease Administration from Landlord/owner.

Top Lease Administrator Employers

Lease Administrator Videos

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