- Facilitate set up of leases in database by third party property managers/accounting group
- Audit/Process tenant executed lease packages; coordinate edits/questions with PMs; obtain signatures
- Review lease input in database for accuracy and activate leases
- Email a copy of the lease package to the PM; file original leases, hard copy and electronically. Overnight original lease documents to PM
- Maintain offline Excel spreadsheet tracking all leases as a control to ensure receipt, execution, and activation. Also used as basis for other reports. Set up quarterly.
- Maintain tracking of all GSA tenants and related properties.
- Renew/create sam.gov registration for GSA tenants ensuring that they never expire.
- Maintain ongoing tracking of future new/expansion leases. Review/activate modifications to new/expansion amendments in database.
- Track leasing items not activated by hard close for accounting accrual and notify accounting accordingly.
- Oversee set up of pre-paid rent schedule.
Weekly, Monthly Audits/Reporting:
- Weekly - run fund and investment level occupancy/leased percentage report and tenants expiring in the next six months for Operations Director
- Weekly- run audit reports to check square footage discrepancies; coordinate with property managers to resolve any changes in square footage and provide necessary documentation, submit changes for processing, file accepted change forms.
- Weekly - send a list of all executed leases to the operations group; on a monthly basis also send to the accounting and asset management groups. For CLIP, send weekly and monthly list of all executed leases to the accounting group.
- Monthly - create leasing report for principals with summary of all completed leasing from offline Excel spreadsheet.
- Leasing Activity YTD
- Actual vs. Budget Leased
- Total Leasing Activity
- Leasing Activity by Asset Manager
- Expiring Revenue by Year
- Expiring Square Footage by Year, Month
- Vacant Square Footage by Month
- Leasing Terms Actual vs. Budget by Asset Manager
- Monthly - update roll forward reporting in database
- Complete Journal Entry to General Ledger
- Error Check
- Monthly - run leased percentage reports and create the following: (transferred from former Leasing & Accounts Manager position)
- Properties by Asset Manager and Market
- Fund Occupancy
- Occupancy by Fund-Type
- Historical Occupancy (Quarterly)
- Properties less than 90% Leased
- Building Available Square Feet
- Monthly - send list of all upcoming expirations to property managers, asset managers, analysts and senior portfolio accountants, with instructions on how to process.
- Monthly – run database checks gaps in rent charges, missing NAICS codes, holdovers longer than six months, holdovers superseded by termination, missing tenant options, expiring termination options; contact property manager for updates.
- Quarterly – run audit report to track all activated modifications in the database and manual database changes made within the quarter.
Quarterly Focus, Annual Meeting and Advisory Reporting:
- Oversee scheduling of each meetings’ items completion
- Coordinate/Distribute reminders/schedules
- Collect data, review and format data in presentation quality
- Individual responsible for providing leasing data for slides for all meetings
- Portfolio Composition
- Executive Summary
- Rollover Risks
- Occupancy Overview
- NOI Overview
- Same Store NOI Overview
- Capital Expenditures Review
- Budget Overview
Back Up Schedules:
- Leased vs. Budgeted Occupancy
- Detailed Leasing Transactions
- YTD Leasing Update
- Change in Occupied SF vs. Last Quarter
- Budget vs. Reforecast – NOI/CAPEX
- Budget vs. Reforecast – NOI/Occupancy
- Reforecast Leasing/Capital
- Budget cs. Reforecast – Leased %
Letters of Credit:
- Maintain offline spreadsheet tracking all current letters of credit on file and update accordingly in database for CRP, CLIP and CDCF III.
- Notify property managers and asset managers of any expiring letters of credit to ensure tenant provides a renewal or replacement.
- Facilitate the transfer of any letters of credit associated with new acquisitions or dispositions.
- Facilitate the release of letters of credits for tenants that have moved out.
- Monthly - run database letter of credit audit report.
- Monthly inquire with CLIP representative on LOC updates.
Post-Acquisition Due Diligence:
- Receive all acquisition documents for each new property and verify that all information is saved electronically.
- Maintain property closing excel tracking.
- Verify all leases against the reconciliation done at acquisition by the legal team.
- Facilitate setup of tenant records in database with the property management team or RRD.
- Update all schedules/reports accordingly.
- Audit online lease records to hardcopy leases
- Work with acquisition team to coordinate receipt of any additional items needed such as tenants’ billing contacts.
- Review and facilitate the reforecast and budget of leasing assumptions
- Assist Asset Managers in updating their Exhibit B
- Complete corresponding roll forward journal entries to general ledger
- Maintain leasing assumptions (Master Leasing Schedule, Exhibit B to Budgets below)
- Coordinate collection of materials to be distributed
- Coordinate/Distribute reminders/schedules
- Manually track all General Liability and Property Damage claims submitted by the Property Managers on an as-needed basis, and report any claims which are above the deductible threshold
- Coordinate insurance set-up for newly acquired assets; obtains items listed on the acquisition checklist and COPE sheet from the asset manager
- Track tenant insured buildings on a monthly basis to ensure no lapse of insurance occurs; contacts property management company when tenant insured buildings are close to their expiration date. Maintain list on network as well as proof of coverage. Notify insurance broker when the tenant vacates so the building can be placed on master policy.
- Receive liability and property renewal requests from lenders and initiate renewal process by sending requests to brokers; save updated insurance certificates
- Maintain a list of flood policies that are renewed on a yearly basis and updates corresponding spreadsheet when complete.
- Oversee the receipt of certificates of insurance for new/renewed tenants in Yardi; monitor that all tenants have insurance information attached and expiration dates are specified in the database.
- Run insurance report monthly to check for any tenants with missing or upcoming expiring information in database; send reminder to property managers to update any certificates.
- Maintain a list and copies of insurance certificates for all property management firms – updated on a monthly basis.
- Oversee the receipt of flood insurance invoices and facilitate with property manager payment; oversee the receipt of flood insurance declarations and maintain flood insurance Excel tracking.
- Oversee property management firms’ requests for Landlord proof of coverage.
- Receive monthly legal invoice package from Mintz Levin containing ~ 80-100 invoices
- Individually sort and record details of each invoice on the Legal Invoice Tracking sheet
- Organize invoices by property and distribute to Asset Managers for signature
- Signed invoices are scanned and saved in the Legal Invoice Folder
- Sign date and Property Manager contact information are updated in the spreadsheet
- An email, with the scanned invoices attached, is sent out to each Property Manager requesting payment
- Invoices related to Financing, Acquisitions/Dispositions or Confidentially Agreements are sent to LA for payment
- All prior year invoices must be paid by March 31st of the following year. Outstanding invoices are organized, resent to each applicable property manager and processed per above.