June 11, 2020
The posts that are listed here are dedicated to those who work in CRE lease administration. Generally speaking, this involves managing or overseeing all details involving commercial real estate leases. The overall role of someone working as a lease administrator is to make sure that all aspects of a lease are handled efficiently and in compliance with the agreed upon terms.
Those involved have a number of key responsibilities. To start with, there is the matter of lease tracking. This involves monitoring critical dates such as move-in dates or renewal deadlines, expiration dates and even making sure that rental payments are received according to schedule.
Lease Administrators are also tasked with keeping records of lease agreements and any changes or amendments to those contracts. There is also the matter of keeping track of maintenance, operating expenses and other costs.
Lease compliance is also a big responsibility. Here, a lease administrator must make sure that all terms and conditions of a commercial lease are upheld. This would include all regulatory and legal requirements. Lease administration also means staying on top of tenant inquiries and concerns and resolving all issues related to that lease.
When a commercial property management team is able to effectively utilize lease administration by way of reliable lease administration software it helps to streamline a company’s operation while also reducing risk and making sure that expectations from a commercial property are properly aligned.