The Lease Administration Associate assists the VP of Leasing and Investments along with the Legal Team in the preparation, execution, and abstracting of all leases. This individual is also responsible for estoppels and SNDAs as required on the purchase or sale of a property.
Essential Duties – Reasonable accommodations may be made to enable individuals with disabilities to perform these essential functions.
- Prepare and distribute executed LOIs as needed
- Redline new LOIs as needed
- Draft initial leases, amendments, and exhibits at the request of the General Counsel in an accurate and timely manner
- Abstract final leases, route for approval and execution
- Distribute executed leases to tenants as required
- Send lease documentation to brokers and request first half commission invoices on a regular basis
- Calculate commissions due to brokers and ensure accuracy of broker invoices and submit for payment
- Provide key dates such as due diligence, permit contingencies, delivery dates, plan approvals, and acquisition dates to Development Team
- Acquire SNDAs and MOLs from tenants as needed
- Issue rent commencement date notices to tenants
- Prepare and email delivery/turnover notices to tenants
- Prepare and email acquisition notices
- Email change of ownership documentation to tenants upon purchase of existing building
- Email tenants the required list of documentation needed to process the TI, review the backup for lease compliance, submit for payment on draw, and track the status of payments
- Coordinate signage with Dealmaker and Development Team
- Review marketing packages for accuracy of lease information
- Create and send ROFR notices
- Prepare and send estoppels on a regular basis as well as SNDAs when required
- Determine if any TIA payments or commission payments need to be made at closing
- Draft default notices to tenants
- Accurately manage the general liability and property insurance of all entities
- Collect COIs for lenders on each project prior to closing
- Submit payment requests for all monthly insurance invoices
- Obtain flood insurance for projects as required by lender
- Invoice tenants with property tax statements in an accurate and timely manner
- Provide property tax and insurance premiums to Financial Analyst for property management budget
- Prepare lease amendments for approvals and signatures as needed
- Update key dates based on amendments or extension notices in software program for Development Team
- Obtain various bonds such as lien release, permit, performance, and maintenance as necessary
- Send lease termination letters if a project is terminated
- Assist Transaction Manager with prorations for rent, CAM, and real estate taxes for settlement statements
- Process rent increases and renewals with General Counsel and CEO as required
To perform this job successfully, an individual must be able to perform each essential duty satisfactorily. The requirements listed below are representative of the knowledge, skill, and/or ability required. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Must possess excellent communication skills and exchange information with others accurately.
- Ability to add, subtract, multiply, and divide in all units of measure, using whole numbers, common fractions, and decimals.
- Exceptional organization in managing time with the ability to prioritize multiple projects simultaneously and meet strict deadlines.
The ideal candidate should have a positive, can-do attitude and…
- Be First. Be Fast. Persist. Plain and simple: we’re responsive, quick to action, and we tirelessly fight through everyday challenges.
- Do More. Be More. We believe that if we’re not exceeding expectations, we’re not doing enough. On every level, we do more because that’s how we’re wired.
- Be Direct. Show Respect. We’re straight shooters when it comes to our clients and team. Honesty and respect go a long way in the world of business. And life.
- Be Flexible. Embrace Change. Every day is a new day with new challenges. We know that’s just how the world works. So, we’re always prepared to adapt in order to succeed.
- Be Inspired. Be Proud. We’re motivated to do work that inspires us. We have pride and passion in everything we do.
- Say It. Own it. Accountability is key here at SimonCRE. So, we say what we mean and do what we say.
- Dream Up. Team Up. We dream big and work together to make things happen. Around here we KNOW teamwork makes the dream work.
- Be Helpful. Build Trust. When people think of us, we want them to think of a company that is nothing but helpful.
Supervisory responsibilities- None
The work environment characteristics described here are representative of those an employee encounters while performing the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- General office environment
The physical demands described here are representative of those that must be met by an employee to successfully perform the essential functions of this job. Reasonable accommodations may be made to enable individuals with disabilities to perform the essential functions.
- Must be able to remain in a stationary position for long periods of time
- Minimal lifting and carrying up to 25 pounds
Travel Required- None
Required Education, Experience, Licenses
- High school diploma or equivalent required
- Four-year college degree preferred
- Commercial real estate experience required
- Proficient with Microsoft Office including Word and Excel as well as calendar management and general technology is required
- Experience with Mac iOS is a plus
- Valid Driver’s License
- Competitive pay (Depends on Experience)
- Benefits package including PTO, sick time, 8 paid holidays per year, health insurance, and 401k
- Eligibility to participate in the Simon Shares program
- An exciting work environment that is fun and entrepreneurial… company lunches, team building activities, a relaxed dress code and half day Fridays
- New modern office building with gym in basement
SimonCRE provides equal employment opportunities to all employees and applicants for employment and prohibits discrimination and harassment of any type without regard to race, color, religion, age, sex, national origin, disability status, genetics, protected veteran status, sexual orientation, gender identity or expression, or any other characteristic protected by federal, state or local laws. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation and training.
Please note this job description is not designed to cover or contain a comprehensive listing of activities, duties or responsibilities that are required of the employee for this job. Duties, responsibilities and activities may change at any time with or without notice.