Organization is as essential as being analytic
Lease administration is integral to the accounting, administrative, and legal requirements normally associated with a real estate portfolio. Lease review and abstracting, accounting and processing, lease audits, CAM charges, lease renewal options, repairs and maintenance, information management and reporting, occupancy cost analysis, operating expense review, and document storage and maintenance matter to this function.
When it comes to real estate income, passive income is achieved by buying and holding. Flipping and renovations are considered active income.
Blueshift manages your way. Depending on your preference of income type, Blueshift will manage your home, multi-unit building, commercial property or other real estate as the administrator by recording, detailing, and accounting for expenditures and income, producing Balance Sheets and Profit and Loss Statements, K1’s and other required tax reports. The administrator must know accounting systems and software.
A professional image, excellent communication and strong organizational skills are essential. The successful lease administrator has the ability to communicate well with commercial property managers and real estate brokers as well as the property owners.
Real estate concepts and terms, particularly retail and office leases, are necessary as well as previous experience negotiating commercial retail leases, an understanding of all real estate transactional agreements including AIR leases; commercial retail leases; license agreements; estoppel certificates; SNDA’s; letters of intent; settlement agreements; lease guarantees; lease commencement agreements; telecommunications agreements and other real estate related transaction documents.
Organization is as essential as being analytic.
At the end of the day a property’s worth is -0- when the accounting is not meticulous and the records out of order.