Lease Administration?
What comes to mind when you think of Lease Administration? How far removed is this from the jobs one might find at a REPE firm?
Background: I have just begun my career in Lease Administration for a top global CRE firm, and I'm looking to learn how to navigate this industry. Complete newbie. I have an international comparative studies degree (LATAM focus) from a top 10 university and am interested in working in emerging market investments (LATAM Real Estate). I'm trying to gauge how useful the knowledge and skills I am gaining might be and how to leverage them in the coming years.
Probably working with the leasing managers assigned to one or more large properties. It's a good way to learn deals. But you're clearing not flying around in a G4 looking to place $500MM.
Learn how principle, owners, tenants and brokers think. Get comfy with many lease structures in the real world. Develop your financial modeling skills across multiple assets. Express your desire to your firm of what you want to do. Then go get it. But it's going to take time.
I'd say it is primarily lease abstracts and redlining leasing transactions. Then uploading them to a central leasing platform. Not too much fun stuff.
Thanks for the replies PacNumber and @cre123" .
@cre123" hit the nail on the head. Its abstracts, account reconciliations, and miscellaneous transactions processing/ "situation handling." Nothing to do with deals or financial modeling but I am getting exposure to lease structures and language. Not terribly fun, nor apparently very useful. Any thoughts on what I might pursue outside of work to show interest/demonstrate competency? I've so far looked into an Argus Enterprise Certification as a possibility.
thanks again for the replies. Appreciate it greatly.
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