Commercial Property Administrator

Westmount Realty Capital; Itasca (IL); On-site; USD 48,000 - 72,000; Full time

Benefits offered by this job

Health, Vision, Dental & Life Benefits

PTO 20 days annually + 10 holidays

Profit sharing (EPU)

Employee stock opportunities (E-Shares

401k benefits

Casual dress code

Company events

Job summary

Westmount Realty Capital in Chicago, IL seeks a Property Administrator to support Property Managers of light industrial assets in the greater Chicago area. You will handle admin tasks, tenant and vendor contacts, and ensure filing systems.

The role covers accounting duties, lease administration, tracking lease expirations, rent invoicing, CAM reconciliations, and coordinating with vendors. Strong organizational and CRE experience preferred; Bachelor’s degree or equivalent required.

Qualifications

• Bachelor’s degree or commensurate experience.
• Proficient in Microsoft Office.
• Experience with Yardi/MRI and AVID Xchange accounting software preferred.
• At least 3 years in a workplace setting.
• Commercial real estate experience preferred.

Responsibilities

• Provide administrative support to the Property Manager, including phone support and drafting, filing and distribution of correspondence and reports.
• Create and maintain tenant and vendor contact lists with emergency numbers and emails.
• Maintain efficient filing system for property management files.
• Review and code property invoices; draft tenant bill-backs and ensure payments.
• Review tenant ledgers, notices, and aging reports to ensure timely collections.
• Process security deposit refund forms and assist with monthly financial reports.
• Track lease expiration dates and amendments; manage lease notes and critical dates.
• Coordinate vendor bids and contracts for recurring services and projects.
• Coordinate with property management for compliance with lease terms and audit schedules.

Skills

Workplace experience

Commercial Real Estate Experience

Education

Bachelor’s degree or commensurate experience

Tools

Microsoft Office

Yardi/MRI

AVID Xchange

Job description

Description

COMPANY

Dallas-based, privately held commercial real estate development and investment management company with exceptional performance specializing in value-add and opportunistic real estate investments. With an entrepreneurial spirit and proven 40-year track record across several market cycles they have steadily built up a portfolio of 13 million square feet of industrial and office properties and 3,000 multifamily units located nationally.

OPPORTUNITY

The Property Administrator will be based in our Chicago, IL office. The Property Administrator will be responsible for providing support to the Property Managers of light industrial assets located in the greater Chicago, IL area.

RESPONSIBILITIES

The activities listed here are not all-inclusive; rather, they indicate the types of activities normally performed by this position. The successful candidate will be able to demonstrate core competencies in the following areas:

General Office/Administrative

• As requested, provide administrative assistance to the Property Manager, including phone support and drafting, filing and distribution of correspondence and reports.
• Create and maintain tenant and vendor contact lists to include emergency contact numbers and email addresses.
• Maintain efficient filing system for property management files.

Accounting

• Review and code property related invoices in a timely manner.
• Draft tenant bill-backs for manager approval, distribute invoices to tenants, and ensure payment received.
• Review and reconcile tenant account ledger reconciliations.
• Review rental increases and communicate or send any notices that need to be sent to tenants.
• Review Aged Receivable reports in accordance with company policy to ensure timely collections from tenants.
• Process security deposit refund forms as requested by Property Managers.
• Contribute to monthly financial reports including variance analysis and accrual needs.
• Participate and assist with annual estimates and reconciliations of Operating Expenses.
• Participate with budget process including the collection, organization and entry of budget materials. Request bids from vendors, analyze, and recommend budget draft.

Customer Service/Tenant Management/Lease Administration

• Establish relationships and interact with key clients: All tenants, vendors, owners, etc.
• Develop and maintain a point of contact with each tenant in order to understand and assist with their business objectives, as it relates to their account needs.
• Provide tenant services in a proactive manner for meeting tenant requests within their premises and the buildings’ common areas, in accordance with lease agreements.
• Promote goodwill, provide high-quality service, and implement tenant retention practices.
• Abstract all new leases, enter information into accounting system. Enter and manage all lease notes, maintaining critical dates and reminder files. Follow up as required to ensure asset and property management and leasing are aware of any approaching option dates and required action.
• Review and prepare for execution and distribution, leases and exhibits to proper parties.
• Create and maintain system of tracking expiration dates of leases. Tracking of all changes or adjustments necessary to lease documents received. (Amendments, Addendums, etc.)
• Serve as liaison between Landlord and Tenant with regard to each party’s compliance with all provisions of the lease.
• Prepare and follow a continual audit schedule for all existing lease documents in the portfolio. Follow up with property management on any related action items. Perform property lease file audits.
• Manage the commission calculation and payment process. Calculate all commissions in accordance with the listing agreement or commission agreement. Process all invoices for payment upon obtaining the approval from Asset Management.
• Oversee the review and track Tenant Improvement allowance and ensure that improvement is being administered properly and within lease guidelines.

Property Management Operations

• Directly involved with the office and property day to day operations.
• Receive tenant maintenance calls and determine services needed. Coordinate tenant maintenance/repair requests with maintenance team or appropriate vendors and notify tenant of proposed solution.
• Provide support to Property Managers for special projects, ie: acquisitions, dispositions, refinances.
• Review and maintain Certificates of Insurance to ensure insurance requirements are met for: Tenants, Contractors, Vendors, and Suppliers.
• Manage lease compliance enforcement procedures, ie: notices, tracking, and follow up.
• Solicit bids and create vendor contracts using standard forms for all recurring service vendors and construction related projects.
• Request proposals for utility contracts, annual service contracts, etc.
• Create and maintain Tenant Lease files (hard copy and electronic copy) upon receipt of executed lease documents and maintain through lease term.
• Review Lease document for maintenance obligations or special terms and proceed accordingly.
• Manage utility accounts and transfers for house meters, vacancies, new tenants, clean & show permitting, acquisitions and dispositions.
• Other duties may be assigned.

Requirements

DESIRED SKILLS AND EXPERIENCE/PROFESSIONAL QUALIFICATIONS:

• Bachelor’s Degree or commensurate experience required
• Microsoft Office proficiency
• Experience with Yardi/MRI and AVID Xchange accounting software preferred
• Workplace experience, minimum of 3 years in a workplace setting
• Commercial Real Estate Experience preferred

COMPANY INCENTIVES & PERKS

• Health, Vision, Dental & Life Benefits
• 20 PTO days annually plus 10 company paid holidays
• EPU Program: piece of the pie profit share
• E-Shares: Employee offered direct investment opportunities
• 401k benefits
• Casual dress code in a collaborative team environment
• Robust company holidays events calendar, employee appreciation events and more!