What are the responsibilities and job description for the Commercial Lease Administrator position at Rainbow Apparel Co?
Rainbow USA Inc. is one of the fastest growing junior, kids, plus, and petite specialty apparel chains. Headquartered in Brooklyn, NY and founded in 1935, Rainbow is a fashion leader to its 14-49 year old customers. We are currently looking to fill the position of Lease Administration Specialist at our corporate location.
The Commercial Lease Administration Specialist is required to have knowledge of lease terms and conditions. The Lease Admin is responsible for ensuring that all rent-related costs have been documented, verified and accounted for and that pertinent lease terms are correctly entered into Rainbow’s system, activated, updated and enforced.
Responsibilities Include:
- Maintain accurate lease data within the lease administration system, including rent schedules, escalation clauses, CAM charges, expirations, and critical dates
- Process and verify rent payments, percentage rent, CAM reconciliations, real estate taxes, and other lease‑related expenses
- Perform accounting functions relating to lease obligations including: timely processing monthly rental payments, annual reconciliations and other expenses, accrual of unpaid invoice and allocation of prepaid expense
- Interpret lease to ensure all such rental payments are in compliance with lease terms
- Maintain lease tracking database
- Monitor leases/amendments for rent commencement, operating expense changes, changes in ownership, and lease terminations
- Accurately process legal notices and payment relating to leases
- Oversee day-to-day landlord relationships regarding account receivables, sales reporting, maintenance issues and Landlord sales audits to ensure prompt resolution to anyissues
- Draft lease correspondence and notices, addressing and resolving landlord/tenant issues
- Monitor commencement and ongoing co-tenancy requirements
- Special Projects as assigned by manager
- Provide back up for fellow Lease Administrators, as necessary
Required Skills and Experience:
- Bachelor's degree or significant related experience
- Minimum of 3 years work experience in Lease Administration, Real Estate, Accounting, Real
- Estate Law, Property Management or related field
- The developed ability to interpret lease provisions, attention to detail, and strong interpersonal skills,
- Ability to build and maintain effective relationships, work independently, prioritize, and take initiative
- Investigate and resolve problems using sound judgment, excellent oral and written communication skills are required.
Salary : $85,000 - $100,000