Job Description
The Lease Abstractor will read and interpret commercial real estate leases and effectively summarize the intent and meaning into the Property Works and/or assigned system. This will include critical data such as lease terms, options, rent and other expenses, repairs & maintenance responsibilities, and other legal clauses. A good candidate will have prior commercial real estate and/or property accounting experience, be familiar with reading real estate leases or other contracts and have a great attention to detail.
Duties/Responsibilities:
- Meet daily benchmark by accurately completing stated number of full abstracts per stipulated deadline.
- Abstract commercial real estate leases and supporting lease documents into lease management system by following instructions and training materials.
- Effectively summarize data without compromising legal intent or meaning.
- Recognize and accurately abstract critical data elements such as:
- Dates – Calculating all dates
- Lease Option Types
- Rent and other charges
- Repairs & Maintenance Obligations
- Lease Clauses - Comprehensive understanding of Lease Clauses such as Co-Tenancy, Exclusive Use, Radius Restriction, Surrender, etc.
- Review and reconcile Common Area Maintenance (CAM), property tax, and other operating expense invoices from landlord
- Process recurring rent, monthly utility charges, tenant services payments. escrows and other monthly billings
- Review and reconciliation of monthly and annual billing statements and invoices
- Identify and communicate discrepancies and raise any questions as needed.
- Perform audits of key financial terms and dates to legal documents and data.
- Recording of received documentation and information
- Perform other related duties as assigned.
Education and Experience:
- A Bachelor’s Degree in Business Admin, Finance, Law, Real Estate or Paralegal Certificate
- At least 2 years professional experience, accounting experience a plus
Required Skills/Abilities:
- Ability to work independently in a fast-paced environment
- Excellent verbal and written communication skills
- Excellent interpersonal and customer service skills
- Excellent attention to detail and ability to think critically
- Excellent time management skills with a proven ability to meet deadlines
- High Proficiency in grammar, spelling, and proof reading
- Strong analytical and problem-solving skills
- Ability to be self-motivated while working in a team environment
- Proficient with Microsoft Office Suite or related software
Please note, only short-listed candidates will be contacted for interviews.