What are the responsibilities and job description for the Commercial Lease Administrator position at Edgewood Properties?
Overview
Since its founding in 1992, Edgewood Properties has established itself as a leading real estate development and property management company. With corporate headquarters in New Jersey, the company is on a course of growth leading to activities across the nation. Given ongoing construction and development plans, our current apartment portfolio of 5,000 plus units is expected to double in the next couple of years and rise to over 10,000 units in the next five years.
Given our rapid portfolio growth, coupled with ownership's desire to develop and hold rather than sell, the timing is ideal for qualified candidates to come on-board.
We're currently seeking a Commercial Lease Administrator for our multi-family portfolio of properties, with at least 3 years of industry experience.
Candidate will work full-time in our corporate office located in Piscataway, NJ.
Full-Time Commercial Lease Administrator Job Description:
Position Summary: The Commercial Lease Administrator will oversee the administration of commercial lease agreements and ensure compliance with lease terms.
The ideal candidate will be detail-oriented, organized, and capable of navigating complex lease and commercial real estate development requirements.
This is a position with growth opportunities with a dynamic and growing organization.
Responsibilities
- Lease Administration: Manage and maintain commercial lease agreements, including reviewing, abstracting, and ensuring adherence to lease terms and conditions. Prepare Estoppels and SNDA’s as required per leases and as needed for refinancing and acquisitions.
- MRI Software Management: Utilize MRI software to manage lease data, track critical dates, and generate reports. Ensure accurate data entry and maintenance within the MRI system.
- Documentation Management: Prepare detailed Lease Summaries, process, and manage lease documents, amendments, renewals, and terminations. Track Property and Tenant Insurance requirements and ensure Certificates of Insurance are current. Audit Property and Tenant files to ensure accuracy and receipt of all pertinent documents.
- Commercial Development: Coordinate with development teams to ensure Landlord Work requirements per leases are adhered to; in particular approvals, approval dates, critical dates and project timelines.
- Compliance and Approvals: Ensure compliance with lease obligations, including rent payments, insurance requirements, and property maintenance. Manage approvals and track critical dates to prevent lapses and ensure timely actions.
- Coordination: Serve as the primary point of contact for construction, project managers, property managers, tenants, and development teams to ensure Landlord Work is completed per Lease requirements and without incurring penalties. Address lease-related issues and facilitate communication between stakeholders.
- Reporting: Generate regular reports on lease portfolio status, upcoming renewals, approvals, and compliance metrics. Perform due diligence on potential acquisitions.
- Process Improvement: Identify and implement best practices for lease administration and development processes to enhance efficiency and accuracy.
Qualifications
- At least 3 – 5 years of experience in commercial lease administration
- Proficiency with MRI software and a strong understanding of its functionalities.
- Strong understanding of commercial lease agreements, real estate terminology and commercial real estate development experience a plus
- Proficiency in Microsoft Office Suite (Word, Excel, PowerPoint).
- Excellent organizational and time-management skills with the ability to handle multiple tasks simultaneously.
- Strong attention to detail and analytical skills.
In return, we offer competitive compensation, along with comprehensive benefits, including medical and dental and vision benefits, life insurance,
a 401(k) with company match and a corporate team environment with opportunity of advancement. Also includes on-site company fitness gym, discounts on housing and home appliances.
All qualified applicants will receive consideration for employment without regard to race, color, religion, sex, national origin, disability, or protected veteran status.