The tasks and responsibilities for the role are split into two (2) core areas being Lease Administration and Property Administration, specifically:
Lease Administration:
- Receive from Australian based Property Managers smart forms for new leases and existing lease amendments which provide high level commercial and financial terms and conditions to feed direct into MRI. A large part of the role will be to review the provided smart form and thoroughly examine the supporting lease documentation to further input of lease data and lease notes into MRI (i.e. lease options, notices, onerous clauses, bank guarantee information, tenant contacts etc).
- With advice from the client, create and apply outgoing profiles to the lease for the purpose of ongoing recovery chargers to the tenant (including annual reconciliations).
- Upon the acquisition of a new property, the client will provide all the property set up details and all the various leases details for the candidate to establish and populate into MRI. This process will involve an income and lease audit validation process, with outputs to be provided for confirmation.
- MRI maintenance, specifically conducting tenant establishment, tenant vacating the property, placing tenants into holdover arrangements through to deactivating leases upon final relocation.
- Perform monthly timetable rental chargers, specifically;
- Review portfolio reports on rent up to ensure all periodic increases (i.e. fixed, CIP or market reviews) to tenants rental charges are applied and actioned correctly, and where in doubt seek advice from the Property Manager;
- Complete rent roll and issue the draft month forward looking charges and provide to each Property Manager to ensure all charges are accurate and approved for issuing to tenants.
- Undertake direct expense recovery from tenants by way of a separate invoice to the monthly rental invoices, which in most cases requires supporting evidence (i.e. expense invoices) to be provided to tenants with the invoice to support the client’s claim.
- Ensure tenancy schedules are updated immediately following work on a matter allowing for accurate reporting within the business
Property Administration:
- Rolling data integrity audits of tenancy details (including tenant contact details) within MRI to include high standard of information.
- Ongoing tenant maintenance including contacts, security deposit details, bank guarantees updating, bank guarantee expiry, lease expiry dates and identify missed rent reviews (not including service contracts, facility management or property compliance documentation).
- Maintain critical dates and documents within MRI, such as insurance certificates expiries by seeking updated insurances from tenants, audit bank guarantees and security deposits to ensure current securities are held against all leases, as well as general compliance lease matters.
- Review monthly raised management fees invoice against the schedule of agreed fees to validate and ensure fees are raised correctly.
- Maintain the property replacement insurance register for the properties under management, including certificates of currency.
- Monitor all real estate licences for the various government registers, and work closely with the compliance team for the validation, renewal and credential updates.
- Receive soft copies of all new or replacement bank guarantees and update MRI information and upload a copy to MRI for future referencing.
- Chase lease legal invoices that remain in debtors payable by the client to their external legal counsel, and follow up with the Property Managers to ensure debts are paid.
- Administer and ensure compliance of the acquisition and sale checklists, which includes regular follow ups with key stakeholders within the client to finalise.
- At acquisition of a new property rename soft copy leases provided by the seller to align to the client’s criteria and ensure copies are placed onto the server and into MRI.
- Collate monthly reports Property Management Reports from Property Managers and ensure all are saved down to the client’s server.
