TBC - Palm Beach Gardens, FL
posted 4 days ago
About the position
The Lease Administration Department is responsible for managing the Lease Administration process and function for TBC Corporation which includes annual rent reconciliations, abstracting, Landlord/Subtenant notifications, monitoring lease information, processing all leases, subleases, legal agreements and associated documents and managing the lease database system and information integrity along with reporting of information to key business areas. This role involves knowledge of rent calculation, breakpoints, annual reconciliations and requires decision-making and Landlord and Subtenant negotiation skills. This role is a collaborative cross-functional position working relationships with Real Estate Development, Real Estate Accounting, Finance, Asset Management, Legal, Facilities Maintenance, Construction, and other external departmental stakeholders, as well as landlords, subtenants, franchisees, third party legal teams and third-party contractors.
Responsibilities
- Review and approve all lease abstractions for leases entered into and maintained in Tango
- Review and approve any and all rent and rent related payments for processing for all AP and AR Leases
- Review and approve any and all abstractions for indirect leases in Tango
- Responsible for critical date tracking and reporting
- Responsible for implementing and maintenance of standardized lease abstraction process for any and all TBC lease types
- Assist and oversee lease administrators to handle rent discrepancies with landlords/subtenants
- Control occupancy costs by maintaining a robust annual audit reviews process of operating expenses (CAM, real estate taxes, insurance, etc.) to ensure Landlord charges are in compliance with the lease agreements
- Assist Director of Real Estate Accounting with any ad hoc reporting or special requests
- Partner with Legal and Real Estate Development to process all legal documents for signature
- Accurately respond to or process legal notices
- Weekly reporting on all lease critical dates to Real Estate Development partners to ensure critical dates are not missed
- Identify document discrepancies; troubleshoot and recommend next steps for resolution; interact with landlords/subtenants on document discrepancies and resolve or escalate
- Work closely with Legal regarding preparation of all documentation necessary to complete lease renewals approved by the Real Estate Committee
- Work with Construction Team regarding collection/submission of all necessary paperwork, liens, and invoices for Tenant Allowance receipt. Create and update Tenant Allowance tracker weekly to ensure receipt of payments
- Oversee lease administrators' day-to-day responsibilities regarding utilities, certificates of insurance, tenant allowance collections, security deposits, cam, real estate taxes, percentage rents, insurance, etc.
- Create and distribute reports to various internal business partners; includes effectively communicating with people having varying understanding of leases and occupancy data and providing important insight about the area of responsibility
- Research and respond to lease-related questions from Real Estate Accounting, Legal, Real Estate Managers, Property Managers, Senior Management, etc.
- Train, cross-train and collaborate within Lease Administration, Real Estate Accounting and Real Estate Development teams
- Assist Director of Real Estate Accounting with annual budget process
- Ad hoc reporting as needed
- Other duties as assigned.
Requirements
- Associates Degree or higher is required
- B.S. Paralegal preferred (not required)
- Notary preferred (not required)
- 10+ years of experience in commercial real estate lease administration
- Expertise in understanding and interpreting retail lease language
- Ability to proactively identify issues and propose and/or initiate solutions
- Proficient in Microsoft Excel
- Tango experience preferred
- SAP experience preferred
- Possess the technical aptitude to use various lease administration systems and software
- Possess excellent analytical, quantitative, written, and verbal communication skills
- Be able to work independently with attention to detail, documentation, and follow-through
- Be highly organized, detail oriented with a professional demeanor and strong interpersonal skills
- Bilingual in Spanish /English is a plus
Benefits
- Market competitive compensation
- 401(k) and Roth with company match. Immediate 100% vesting
- Comprehensive benefits including medical, dental and vision
- Company paid short term disability and employer subsidized long term disability
- Company paid life insurance
- Discounted tire purchasing
- Tuition reimbursement
- Employee assistance program
- Generous paid vacation and paid time off
- Customizable voluntary benefits
- and More!!!
