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Lease Administrator

4 months ago

Markham, Canada BGIS Full time

Who We Are

SUMMARY

The **Lease Administrator **is responsible for abstracting key information from lease agreements, entering and maintaining the integrity of lease data within the lease management database as well as collecting and paying monthly rental payments on behalf of landlords and tenants.

KEY DUTIES & RESPONSIBILITIES

Lease Abstraction
- Reviews lease agreements and abstracts key information including but not limited to lease provisions, clauses, options and critical dates, property information (i.e. square footage), business, legal and financial agreements and obligations, terms and conditions
- Enters and maintains lease agreement information within lease management database. Responsible for data integrity of lease information

Rent Payment Processing
- Review and validate landlord invoices to ensure compliance with the lease
- Processes monthly rent payments to the landlord and ad hoc payments on behalf of the client
- Prepares monthly rent roll/rent change report, makes adjustments to rent information and issue retroactive payments to reflect changes in rent including but not limited to operating costs, base rent, realty taxes etc
- Prepares and provides reports to managers and/or clients

Rent Collection & Billing
- Processes monthly rent billings to the tenants and ad hoc charges on behalf of the client in compliance with the lease
- Prepares monthly rent roll/rent change report, makes adjustments to rent information and issue retroactive invoices to reflect changes in rent including but not limited to operating costs, base rent, realty taxes etc
- Prepares and provides reports to managers and/or clients
- Collects monthly rental payments and outstanding payments from tenants on behalf of the client
- Prepare A/R aging report, follow up and make recommendations to client on actions for delinquent accounts

Additional Rent Review
- Conducts review of landlord annual escalations (operating costs budget increases (i.e. grounds maintenance cost, realty taxes ie “additional rent”) proposed by the landlord. Ensure the charges are in accordance with the lease agreement. Compares forecast against historical information to review reasonableness of budget increase. Verifies reasons for proposed budget increases and requests for supporting documentations from the landlord where required
- Conducts review of landlord year end statements for actual operating costs and realty taxes (perform desk top audit). Requests supporting documentation from the landlord on variances and charges not in compliance with the lease.
- Provides complete package for managers review.

Lease Management
- Provide non legal lease interpretation on lease clauses
- Review and recommend estoppels certificates for approval
- Track and review tenant insurance certificates
- Interact with FM team on operational matters
- Landlord/Tenant relationship management
- Track and invoice landlords for tenant improvement allowances,
- Security deposit management
- Critical Date management (ensure all tenant critical dates are tracked and managed)
- Generate reports as required such as KPI, Critical dates, options to terminate
- Provide due diligence on landlord/tenant change of ownership
- Percentage rent and CPI management
- Other duties as assigned, including support for property tax
- Property assessment notices and taxation notices information;
- Assessments and taxation payments;
- Overpayments, refunds and accruals records;
- Assessment and tax adjustments related to vacancies, acquisitions and depositions; and
- Payments made to taxing jurisdictions.

Additional lease management
- Provide support to the CIBC Team Custom Banking Managers/Third Party Transactions Operation.
- Create the Quarterly Top 25 Owners Report for CIBC Directors.

KNOWLEDGE & SKILLS
- Community college diploma preferably in accounting, business administration or law clerk studies
- 3 to 5 years of commercial lease abstraction or property administration work experience
- Knowledge and experience with commercial real estate lease agreements
- Ability to interpret and abstract lease information
- Ability to process volumes of data requiring strong attention to detail and accuracy
- Proficient with MS Excel and ability to learn new management information systems quickly

Licenses and/or Professional Accreditation
- Real Property Administrator Designation, an asset
- Facility Management Administrator Designation, an asset
- Bilingual is an asset

At BGIS we believe that diversity and inclusion is a key business driver, such that we never lose sight of its importance as it is woven into the fabric of our organization. We are committed to maintaining a barrier-free recruitment process by providing equal employment opportunities through recruiting and retention of individuals of all backgrounds. We recognize that promoting diversity is an essential component of our continuing pursuit for organizational success

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