Assistant VP of Leasing Administration (L-7078)

POSITION SUMMARY: The Assistant Vice President of Leasing Administration is responsible for the overall leadership, governance, and continuous improvement of the retail lease administration platform. The role establishes the policies, procedures, controls, service standards, and key performance indicators that ensure lease administration activities are accurate, timely, and aligned with each property's investment strategy. The position serves as the primary liaison between Acquisitions, Leasing, Asset Management, Accounting, Property Management, Legal, and third-party lease administration provider to ensure lease administration activities are executed consistently throughout the investment lifecycle.

KEY RESPONSIBILITIES:

Acquisition Onboarding & System Implementation

• Own the onboarding of newly acquired properties into Yardi, including, tenant setup, billing configuration, recovery structures, and critical dates.
• Develop and oversee standardized onboarding procedures that ensure system setup accurately reflects acquisition underwriting, lease terms, and the property's investment business plan.
• Coordinate with Acquisitions, Asset Management, and Legal to identify and resolve discrepancies between underwriting assumptions, lease documents, and operational implementation before tenant billing begins.

Lease Administration & Tenant Billings

• Own the accuracy and timeliness of recurring tenant billings, including base rent, percentage rent, CAM, real estate tax recoveries, insurance recoveries, and other lease obligations.
• Establish policies, workflows, quality control procedures, and key performance indicators governing monthly billing, posting, and reporting.
• Ensure issues impacting billings are identified, escalated, and resolved proactively before tenant communications occur.

Recoveries & Reconciliations

• Oversee the preparation and review of annual CAM, insurance, and real estate tax reconciliations.
• Establish quality assurance procedures designed to identify billing inconsistencies, lease interpretation issues, and calculation errors before reconciliations are distributed.
• Develop standardized workflows, response timelines, and communication protocols for handling tenant inquiries and reconciliation disputes while ensuring consistent documentation and resolution.

Lease Changes & Ongoing Administration

• Oversee the timely implementation of new leases, amendments, renewals, assignments, terminations, property dispositions, ownership changes, anchor exclusions, and other events affecting tenant billings.
• Develop clear service standards and accountability measures governing communication between Leasing, Legal, Asset Management, and Lease Administration to ensure all lease changes are accurately reflected in Yardi within established timelines.

Collections Oversight

• Oversee lease administration's role in the collections process by establishing standardized workflows, reporting, escalation procedures, and decision points.
• Coordinate with Asset Management, Operations and Legal to ensure collection activities are timely, consistently applied, and aligned with business objectives.

Lease Compliance

• Develop and oversee processes for monitoring non-financial tenant obligations, including certificates of insurance, sales reporting, and other lease compliance requirements.
• Maintain portfolio-wide reporting that provides real-time visibility into tenant compliance, outstanding requirements, and escalation status.

Leadership & Operational Excellence

• Lead internal lease administration personnel and oversee third-party service providers.
• Develop departmental policies, operating procedures, training materials, service level standards, and performance metrics.
• Identify opportunities to improve operational efficiency, strengthen internal controls, enhance data integrity, and leverage technology to improve the lease administration function.

QUALIFICATIONS:

• 8+ years of commercial retail lease administration experience with extensive knowledge of retail lease structures, CAM, insurance, real estate tax recoveries, percentage rent, lease abstractions, and tenant billings.
• Demonstrated experience leading lease administration teams and/or outsourced service providers.
• Advanced proficiency with Yardi and a strong understanding of lease administration systems, controls, and data governance.
• Proven ability to develop operational processes, establish performance metrics, and drive continuous improvement across a complex portfolio.
• Strong analytical, organizational, and leadership skills with exceptional attention to detail and the ability to collaborate across multiple business functions.