Property Administrator - Real Estate Operations & Leasing

IREM Chicago; Chicago (IL); Hybrid; USD 45,000 - 65,000; Full time

Benefits offered by this job

20 PTO days annually

Profit sharing (EPU program)

Employee stock purchase (E-Shares)

Casual dress code

Company events & appreciation

Job summary

The Institute of Real Estate Management is seeking a Property Administrator to support the Property Managers for light industrial assets in the greater Chicago area.

This role handles administrative, accounting, lease administration, and tenant relations, ensuring timely invoicing, budget support, lease tracking, and responsive tenant service for a growing portfolio.

Qualifications

• Bachelor’s Degree or commensurate experience required.
• Experience with Yardi/MRI and AVID Xchange accounting software preferred.
• Minimum of 3 years in a workplace setting.

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 contacts.
• Maintain efficient filing system for property management files.
• Review and code property-related invoices in a timely manner.
• Draft tenant bill-backs for manager approval and ensure timely payments.
• Review and reconcile tenant account ledgers and communicate rent increases as needed.
• Participate in monthly financial reports, variance analysis and accrual needs.
• Assist with annual estimates and reconciliations of Operating Expenses and budget materials.

Skills

Workplace experience

Education

Bachelor’s Degree or commensurate experience

Tools

Yardi/MRI

AVID Xchange

Job description

Need a new job or looking to hire an IREM professional? Look here for local opportunities posted by our chapter.

For job searches that are national in scope, register today on IREMJobs.org , an online career resource for real estate management professionals and employers.

COMMERCIAL PROPERTY ADMINISTRATOR (CHICAGO, IL)

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 30-year track record across several market cycles they have steadily built up a portfolio of 11 millionsquare feet of industrial and office properties and 3,700 multifamily units located nationally.

OPPORTUNITY

The Property Administrator will be based in our Itasca, IL office and will be responsible for providing support to the Regional Team overseeing a portfolio of commercial 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 Managers, 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 and distribute invoices to tenants.

· Review rental increases and communicate or send any notices that need to be sent to tenants.

· Review Aged Receivable reports and report to Property Mangers in accordance with company policy to ensure timely collections from tenants.

· Draft security deposit refund forms as requested by Property Managers.

· Participate and assist with annual tenant estimates and reconciliations of Operating Expenses.

· Participate in the 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:tenants, vendors, owners, etc.

· 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.

· Maintain tracking expiration dates of leases and monthly reporting to managers.Tracking of all changes or adjustments to lease documents received.(Amendments, Addendums, etc.)

· Support Property Managers serving as liaisons between Landlord and Tenant regarding each party’s compliance with all provisions of the lease.

· 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, i.e.: acquisitions, dispositions, refinances.

· Solicit, review, and maintain Certificates of Insurance to ensure requirements are met for: Tenants, Contractors, Vendors, and Suppliers.

· Support Property Managers in lease compliance enforcement procedures, i.e.: 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.

· Maintain electronic Tenant Lease files upon receipt of executed lease documents and maintain through lease term.

· Review Lease documents 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 as may be assigned.

WHO WE’RE LOOKING FOR:

• A Future Leader: At least 3+ years of industrial/commercial property management experience and a desire to grow in your career.
• Lifelong Learner: Bachelor’s Degree or commensurate experience required. You learn quickly when facing new problems, open to change, quickly grasps the essence and underlying structure of anything, enjoy the challenge of unfamiliar tasks.
• People Whisperer: You have a knack for building relationships, whether it’s with your tenants or trusted vendors.
• Tech-Savvy: Comfortable with MRI and Avid Xchange software programs, and Microsoft Office Suite.
• Organizational Expert: You use your time effectively and efficiently, can attend to a broader range of activities, gets more done in less time than others.

BENEFITS:

• Health, vision, and dental. 🏥
• 401K and other investment opportunities 💰
• Opportunities for professional development and advancement. 📈
• A dynamic and collaborative work environment. ⚡