Lease Administration

Lease Administration is defined as the administration and management of any real estate and/or improvements subject to rental agreements that the company utilizes for the delivery of its products and services or portions of owned properties leased to others.

Lease administration is also used to define a department that usually falls under an organization’s real estate department. Lease administration involves, but is not limited to, receiving rents from facilities they own and paying rent for the facilities they lease. It has become an integral part of the accounting, administrative, and legal requirements normally associated with a real estate portfolio. Job responsibilities for lease administrators and real estate professionals include: lease review and abstracting, accounting and processing, lease audits, common area maintenance (CAM) charges, lease renewal options, repairs and maintenance, information management and reporting, occupancy cost analysis, operating expense review, and document storage and maintenance.

Once a lease is in place, lease administrators continue to manage and monitor rental payments, coordinate any tenant alterations, and handle lease amendments when necessary.

Depending on a corporation’s departmental structure, lease administration or lease management can make up just one department under the umbrella of a corporation’s real estate structure. Other departments may include facilities management, real estate accounting, construction, and property management.

Lease administration can be handled either internally or through outsourcing. The size of the organization’s portfolio and the corresponding complexity of creating automated management and accounting systems are factors that influence an organization’s decision to perform lease administration in-house or to outsource the function.

Case Studies

  1. Correction of Base Year Saves Company $2.5 Million Over Life of Lease

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