Career Information for a Lease Administrator
A lease administrator is responsible for overseeing and tracking the leases of rental properties in a company's portfolio. They also follow the leases of financial transactions, such as rents, sublease payments, renewals, taxes, and property expenses. Lease administrators process the leases to make sure all the information is accurate and logged onto a database and filed appropriately. Working as a lease administrator means overseeing and ensuring that billing and all other financial transactions are being taken care of in a timely manner, and informing necessary personnel of any missing or late payments.
|Education||Bachelor's degree, master's degree|
|Job Skills||Computer skills, organized, attention to detail|
|Median Salary (2018)*||$58,340|
|Job Outlook (2016-2026)*||10% growth|
Source: *U.S. Bureau of Labor Statistics
Most employers want prospective lease administrators to have at least a bachelor's degree in finance, business, or accounting from an accredited college or university. Some employers prefer that applicants complete a master's degree in a related subject or have a few years of experience in the real estate industry. While in school, students should focus on classes involving finance, real estate, accounting, business administration, and communications.
Lease administrators need to have excellent computer skills with an understanding of spreadsheets, word processing, database software, and the Internet. Administrators need to be well organized and have a strong ability to pay attention to detail. Lease administrators must be able to communicate with others, identify problems, and resolve potential conflicts.
Economic and Career Outlook
According to the U.S. Bureau of Labor Statistics (BLS) opportunities for property, real estate, and community association managers, including lease administrators, were projected to grow at a faster than average rate of 10% from 2016-2026. Using data from the BLS, the median wage for these managers was $58,340 as of May 2018.
Alternative Career Option
An additional career option within this field is:
Real Estate Agent
Most real estate agents handle rentals, as well as sales. Agents must be at least 18 years old with a high school diploma. State licensure is required after completing an accredited pre-licensing program. Real estate sales agents were projected to experience a 6% rise in jobs from 2016 to 2026, per the BLS. This organization also noted that agents earned a median salary of $48,690 in 2018.