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Lease Administrator

Chicago, IL

NEWCASTLE INVESTORS

Newcastle Investors is a leading Chicago-based real estate advisor and investor serving institutional and corporate clients. The firm owns and manages a growing portfolio of multi-family and retail assets located in the City of Chicago.

 

JOB BRIEF

 

Pay- $25-$35 per hour

Type- Part-time Fully Remote, Must be local to Chicago

Reporting to the Vice President of Retail, the retail Lease Administrator will be responsible for the overall management of the lease administration responsibilities for Newcastle’s tenants.

These responsibilities include, but are not limited to, abstracting leases, monitoring tenant lease compliance, processing rents, accounts receivable, accounts payable, reviewing monthly property/portfolio financials, assisting in the preparation of annual property budgets, preparing annual CAM and Tax reconciliations, managing all retail management documents and file systems, preparing and managing various monthly/quarterly/annual reports, and providing general support to the property management team on a part-time basis.

This is a part-time (20 hours per week), fully remote position with flexible hours. The role is designed to provide ongoing administrative support to the VP of Retail while allowing the successful candidate the flexibility to manage their own schedule, provided all deliverables are completed accurately and on time. 

This individual will have ownership of the day-to-day lease administration responsibilities and will be expected to work proactively without constant direction from the Vice President of Retail or other departments.

DUTIES AND RESPONSIBILITIES

Lease Administration

  • Abstract leases, amendments, and renewals into Yardi, set up recovery profiles, enter and track key dates.
  • Track and collect necessary tenant documents. (Certificates of insurance, HVAC maintenance records, tenant sales reports, letters of credit)
  • Assist on asset financing and dispositions – prepare and track estoppels, SNDAs, and property questionnaires, Coordinate property tours.
  • Track tenant lease obligations/compliance.
  • Prepare/send tenant default notices.
  • Track tenant key dates – plan submission, outside rent commencement, option notification, etc.
  • Track tenant move-ins/outs.
  • Manage & maintain Newcastle’s FileSharing platform.

Accounting

  • Financial/Budgeting/Reconciliations
  • Prepare annual budget drafts.
  • Confirm tenant recovery pools and budgeted CAM/tax recoveries.
  • Perform annual tenant CAM/tax reconciliations.
  • Upon request provide backup for tenant audits.
  • Review monthly property financial statements for accuracy.
  • Accounts Receivable
  • Generate, review, and send monthly tenant statements.
  • Monitor, calculate, and apply late fees.
  • Prepare monthly A/R report.
  • Prepare, send, and track tenant default notices.
  • Apply prepaid rents.

Reporting/Miscellaneous

  • Track retail capital expenses. (leasing commissions, tenant improvement allowances)
  • Manage water submeter program.
  • Manage tenant/landlord utilities
  • Enter work orders into Yardi.

General Administrative Work 

  • Manage tenant R&M inquiries
  • Manage general tenant inquires
  • Manager general internal inquires
  • Various miscellaneous support or reports, correspondence, etc.

QUALIFICATIONS

  • The ideal candidate will have at least 3-8 years of experience in retail lease administration and accounting.
  • In-depth knowledge and understanding of retail leases and both landlord and tenant obligations.
  • Proficiency with lease administration and accounting for retail tenants and commercial properties.
  • Proficiency in CAM and tax recoveries and reconciliations.
  • Proficiency in preparing and understanding property budgets.
  • Proficiency in Yardi is a must.
  • Strong familiarity with other real estate legal documents.
  • Proficiency in the Microsoft Office Suite (Excel, PowerPoint, Word, Outlook).
  • Type A personality with excellent organization skills, critical thinking skills, self-motivation, positive attitude, strong work ethic, ability to handle multiple assignments, good judgment, excellent follow-through and attention to detail.

 

Newcastle Investors is committed to conducting all employment practices for employees at all levels without regard to race, creed, genetic characteristics, gender, color, religion, sex, national origin or ancestry, age, mental or physical disability, marital status, sexual orientation, veteran/military status, gender identity/status, pregnancy, childbirth or related medical conditions, or any other characteristic protected by applicable state, federal or local laws, except where a bona fide occupational requirement exists.

Newcastle Investors is an E-Verify employer. E-Verify is an Internet-based system operated by the Department of Homeland Security (DHS) in partnership with the Social Security Administration (SSA) that allows participating employers to electronically verify the employment eligibility of their newly hired employees in the United States.

 

 

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