Lease Administrator

Benefits:

• 401(k) matching
• Dental insurance
• Health insurance
• Paid time off
• Vision insurance

Waterstone Properties Group

Job Title: Lease Administrator - Onsite, Needham, MA

Position Summary

This role serves as the central point of accountability for lease data, critical dates, rent escalations, and compliance, working closely with Finance, Asset Management and Property Management to ensure lease terms are executed and enforced accurately within Yardi.

This is a detail-driven role with real operational impact, ideal for someone who enjoys ownership, organization, and being the “go-to” expert on lease information.

Key Responsibilities

Lease Administration & Abstracting

• Abstract new and amended commercial leases into Yardi with a high level of accuracy
• Maintain complete and organized electronic lease files, including amendments, guaranties, estoppels, and notices
• Review executed leases for accuracy and consistency with approved deal terms
• Assist with onboarding new tenants including lease abstracts, compiling tenant contact information, and providing welcome packages
• Manage collection of tenant sales and percent rent reporting, collect documentation as needed.

Critical Dates & Compliance

• Track and manage all key lease dates, including rent commencements, options, expirations, renewals, and termination rights
• Monitor and maintain tenant compliance with lease requirements (insurance (COI), use clauses, reporting obligations, etc.)
• Prepare and track tenant notices related to rent changes, options, defaults, and lease events
• Maintain utility account and meter information to ensure all tenants are being billed properly and track landlord-controlled accounts

Rent & Financial Coordination

• Coordinate with Accounting/Property Management to ensure rent, percentage rent, CAM, and escalation schedules are billed correctly in Yardi
• Review rent changes, percentage rent clauses, and lease adjustments for accuracy
• Assist Property Management with the collection of rent payments and track tenant accounts/delinquencies
• Communicate with Property Managers and tenants on outstanding rent obligations or changes moving forward, send out notices if needed.
• Assist with CAM reconciliation and billing as needed.

Leasing & Asset Management Support

• Support Leasing and Asset Management teams with lease language review, abstracts, and deal documentation
• Assist with due diligence requests for refinancing, acquisitions, dispositions, and audits
• Prepare lease summaries, rent rolls, and expiration reports for internal stakeholders and ownership
• Collaborate closely with the Accounting, Tenant Coordination, Legal, Collections, and Property Management teams, providing detailed analysis and strategic insights to support lease compliance and administration processes

Systems & Reporting

• Maintain the accuracy and integrity of lease data within Yardi
• Generate standard and ad-hoc lease reports, including rent rolls, expirations, options, receivable reports, default notices and amendments
• Identify opportunities to improve lease administration processes and data quality

Qualifications

Required

• 2-3 years of lease administration experience within commercial real estate
• Hands-on experience administering leases in Yardi
• Strong understanding of retail commercial lease structures, amendments, and key lease provisions
• Exceptional attention to detail, accuracy and organizational skills
• Ability to manage a high-volume lease portfolio while maintaining accuracy
• Proficiency in Microsoft Excel and document management systems