Manager, Retail Lease Administration

About the role

• Location
• Key Tower - 127 Public Square
• Business

We believe home is more than a place to live. It's where life happens; connections are made, and communities grow. That's why we're committed to creating welcoming places where our residents feel at home, and our people have the opportunity to make a meaningful impact.

If you're ready to be a part of our team, we encourage you to apply.

Position Summary

The Manager, Retail Lease Administration is responsible for overseeing all aspects of the company's retail lease portfolio, ensuring compliance with lease agreements, and maintaining accurate lease documentation. This role involves managing the entire lease lifecycle, from abstraction and execution to renewals, expirations, and terminations.

The Lease Administration Manager will lead a team and collaborate closely with various internal departments (e.g., Finance, Legal, Operations) and external stakeholders (e.g., landlords, tenants, brokers) to optimize leasing operations and support strategic real estate objectives.

The Cleveland corporate office follows a hybrid work model that requires employees to be in the corporate office at least four days per week to foster collaboration, innovation, and team celebration.

Essential Job Function

Job Function #1: Lease Portfolio Management (15%)

• Oversee the comprehensive management of all retail lease agreements across the company's commercial property portfolio.
• Ensure compliance with all lease terms and conditions, legal requirements, and company policies.
• Maintain accurate and up-to-date lease documentation, critical dates, and financial data within lease administration software (e.g., Yardi, MRI, CoStar, Visual Lease, Lease Harbor, Tririga).

Job Function #2: Lease Lifecycle Management (15%)

• Manage the end-to-end lease process, including abstraction, review, execution, and storage of lease agreements, amendments, and related documents.
• Monitor critical lease dates, such as expirations, renewal options, termination clauses, rent escalations, and notice periods.

Job Function #3: Financial Administration (35%)

• Coordinate with finance and accounting departments to ensure proper billing, collection, and reconciliation of lease-related payments (rent, CAM, taxes, insurance, etc.).
• Track and manage security deposits and letters of credit.
• Track broker fees and process payments
• Oversee the creation of purchase orders and invoices for tenant improvement allowances and retail property related expenses.
• Manage Accounts Receivable, including invoicing, collections, and maintaining accurate financial records.
• Manage month end procedures (straight line entries, vacancy loss, etc.)

Job Function #4: Tenant/Landlord Relations (5%)

• Serve as a primary point of contact for landlords and tenants regarding lease-related inquiries, issues, and disputes, resolving them in a timely and professional manner.
• Foster positive relationships to ensure high retention rates and tenant satisfaction.

Job Function #5: Reporting & Analysis (10%)

• Generate regular reports on lease status, occupancy rates, critical dates, financial obligations, and portfolio performance for senior management.
• Analyze and interpret lease documents to identify financial and operational impacts.
• Conduct periodic audits of lease files and reconcile financial transactions.

Job Function #6: Process Improvement & Compliance (10%)

• Implement and streamline lease administration processes, protocols, and best practices to enhance efficiency, accuracy, and compliance.
• Stay informed of relevant real estate laws, regulations, and accounting standards (e.g., ASC 842, IFRS 16) and ensure adherence.
• Collaborate with legal teams on lease interpretation and dispute resolution.

Job Function #7: Team Leadership (10%)

• Manage, mentor, and develop a team of lease administrators, providing guidance and support.
• Oversee daily tasks and ensure departmental goals and milestones are met.

Education

• Associate Degree in Accounting, Real Estate, Property Management, Business Administration, Finance, or a related field
• Work experience
• 5-7 Years of Experience in progressive lease administration or property management required
• 5-7 Years of Managing a large and diverse lease portfolio required
• 3-4 Years of Experience in leadership or supervisory role required
• 1-2 Years of Experience in lease administration software (e.g., Yardi, MRI, CoStar, Visual Lease, Lease Harbor, Tririga) required
• Please note: 8-10 Years of relative work experience offset the minimum educational requirements

Compensation

Commensurate with Experience $ 87,900 - 122,955 annually

The Benefits of Working at LyvWell

Benefits designed to help you grow, thrive, and live well.

• Full benefits package
• Vacation/PTO Policy
• 401(k) Retirement Plan Plus Employer Match
• Bonus or Commission Programs
• Education Assistance
• Associate Housing Discounts