For companies with large real estate portfolio, lease administration is perhaps the most overlooked department. Whether a commercial office tenant, retail and restaurant chain, the lease administration function historically has been considered as overhead, and not as an expense recovery center. In tough economic times, that is a serious missed opportunity.

By virtue of its “behind the scene” structure, it is often easy for a company to not see what they are losing within its own lease relations.  Each dollar saved in lease administration is a dollar added to the company’s bottom line.

In reality lease administration is a profit link for commercial tenants. There are so many opportunities to increase profit by focusing on the various categories of administering the terms of a lease, the dates and the renewal options. Also lease auditing, lease abstracts, software, landlord billings such as CAM insurance, real estate taxes, and utilities represent lease obligations that require serious staff involvement  and scrutiny.

While many of these lease administration functions consume valuable staffing time, a growing number of commercial tenants understand how much money lease management  people can deliver to the company’s bottom line.

The NRTA is offering a comprehensive course that provides the real estate student with an in-depth understanding of lease administration and the role of the Lease Administrator.  The session covers all aspects of lease administration, from the receipt of a new lease, through expirations and renewals, to property turnover. Participants will gain a thorough understanding of how lease administration plays a key role in the success of an organization in today’s world.