Start a Career in Business Finance as a Lease Administrator
For the business or finance graduate acquiring a degree is only the beginning. You need to look at the diverse career options open to you. You need to evaluate the job scenario and understand which industrial sectors have the most potential for new professionals.
The finance industry is known to be multi-faceted and offers a wide spectrum of positions. Financial services boast of a number of sub-industries covering niche opportunities. The best way of locating a dream career in business finance is by doing adequate research and finally, locating the job that is truly compatible with your interests and skills.
Business finance implies management of money and assets and is fundamental and critical to any organization. The primary objective of business finance is increasing profits and minimizing financial risks and concerns. Business finance encompasses a multitude of varied occupations. Lease financing and lease administration is something that is catching the fancies of many and is pretty much in demand.
Lease Administration Job Role
Lease Administration generally involves, but not restricted to receiving rents from properties owned and paying rent for leased properties. Lease administration is fundamental to accounting, legal and administrative requirements usually relating to real estate portfolios.
Job responsibilities of lease administrators would include accounting and processing, lease review and abstracting, lease audits, lease renewal options, CAM charges, repairs and maintenance, occupancy cost analysis, management and reporting, operating expense review and document maintenance and storage.
Once a lease agreement is signed, lease administrators are in charge of managing and monitoring rental payments, coordinating tenant alterations if any, and handling lease amendments whenever necessary.
Relevant Career Information
A lease administrator oversees and tracks the leases of various rented facilities in the company’s portfolio. He is responsible for following the leases of various financial transactions including rents, renewals, sublease payments, property expenses and taxes.
Lease administrators are responsible for processing the leases for ensuring that all information is logged onto a precise database, filled properly and most importantly accurate. Lease administrator needs to oversee and ensure that billings as well as all financial transactions are actually being managed properly and on time. They are required to inform the concerned people regarding late payments or missing payments.
Educational Qualifications Required for a Lease Administrator
Most employers are looking for lease administrators having at least a bachelor’s degree in business, or finance, or accounting from any reputed and accredited university or college. However, it would really be an added advantage if a candidate completed his master’s degree in any one of the relevant streams or had a substantial experience and exposure in the real-estate sector.
Those aspiring for a career in lease financing and administration should start preparing themselves from school itself. They should concentrate on finance, business administration, communications, real estate, and accounting right from school days.
Job Skills
Lease administrators should possess excellent computer skills. They should have a sound knowledge of word processing, spreadsheets, the Internet and the database software. The aspiring candidate should be well-organized. He should possess a keen eye for detail.
Lease administrators should have exceptional communication and interpersonal skills. They should be able to communicate clearly, identify any problems and effectively resolve issues and potential conflicts.
Career Outlook
As per the information revealed by the U.S. BLS (U.S. Bureau of Labor Statistics) job opportunities for real estate, properties, as well as, community association administrators, including lease administrators, have been projected to grow roughly at a slower-than-avg. rate of 6 percent from the year 2010 to the year 2020.
It is reported that actually these managers received a median wage of $67,541 and the salary would usually range from $57,170 to $88,675.
Author Bio
Mathew Hasselhoff is a certified career counselor, attached to a renowned consulting firm in the USA. He enjoys blogging immensely.
