Assistant Leasing Manager

2 weeks ago

Muscat, Muscat, Oman Lulu Shopping Malls Muscat LLC Full time
Job Summary

To assist in the execution of policies and procedures regarding day-to-day functions of the commercial leasing department as determined by the Head of Leasing and General Manager of nominated assets. The role involves acquiring tenants to lease available spaces in Oman Avenues Mall or other corporate retail assets of Lulu Shopping Malls Muscat LLC.

The following are the broad-level job responsibilities of this role:

  • Marketing of Properties / Assets
  • Leasing of Assets
  • Lease Management
  • Liaison & Registration with Interested Parties
  • Documentation & Reporting
Primary ResponsibilitiesMarketing of Properties / Assets
  • Continually seek new tenants.
  • Create and maintain a tenant database, sharing it regularly with the OAM team and management members.
  • Develop a client base that generates sustainable referrals and leads, producing income for the team and company.
  • Provide existing and prospective clients with industry and market-specific information relevant to their business and investments.
  • Assist in marketing respective/assigned properties.
  • Ensure accurate and timely updates to all collateral, websites, etc., as necessary.
  • Communicate continually with the existing tenant database to discuss local expansion, relocation, and prospective market expansion.
  • Compile, update, and maintain a network of local, regional, and international brokers, sending lease updates, flyers, etc., as appropriate.
  • Attend conventions, trade shows, etc., to meet with regional and national tenants, prospect, and stay abreast of current market trends, specifically related to leasing.
  • Ensure continuity and retention of existing tenancy, maintain good client relationships, and promote other company services related to sales, development, and management.
Leasing of Assets with Given Parameters
  • Budgeting and forecasting of lease income.
  • Participate in regular reviews of budgeted income with the OAM Management Team.
  • Ensure occupancy levels in OAM properties.
  • Ensure lease income aligns with budgeted lease values.
  • Responsible for leasing function for specific retail assets while developing a broad and qualified clientele base.
  • Draft leasing forms, including but not limited to Letters of Intent (LoI), Leases, Tenancy Agreements, and other related leasing documents.
  • Draft and prepare responses to RFPs/SFOs in an efficient, professional, and timely manner.
  • Prospect for and negotiate exclusive tenant representation agreements with local, regional, and international tenants.
  • Landlord representation agreements with property owners and landlords.
  • Analyze prospective lease terms and financial information.
  • Interface with clients and prospects to successfully define parameters, lease terms, and limitations surrounding a possible lease, listing, and related agreements.
  • Attend weekly leasing department staff meetings to discuss prospects, properties, and share ideas with the Team.
  • Conduct local and sub-market analysis for existing inventory and competitive properties to ensure accurate marketing and competitive pricing with regards to market rent, tenant improvements, rental abatement, etc.
Lease Administration
  • Issue lease offer letters to prospective and current tenants on time.
  • Provision of lease letters to initiate the lease cycle.
  • Collect reservation deposits from tenants as per mutual agreement once lease letters have been provided.
  • Prepare lease agreements upon receipt of reservation deposits.
  • Collect payments due in advance as per mutual agreement with tenants upon signing off of lease agreements.
  • Manage the ERP software for the management of leases (YARDI).
Liaison & Registration with Interested Parties
  • Liaise with OAM Human Resource Department and register the lease agreement with government bodies in a timely manner to avoid penalties.
Documentation & Reporting
  • Communicate with Tenants, Landlords, and Clients through monthly emails, phone calls, and hard copy deliverables.
  • Collaborate with GM-Business Development & Leasing to forecast quarterly, semi-annual, and annual leasing goals for the department and agents.
  • Compile and present monthly leasing activity reports for managed and non-managed properties for owners and landlords or as directed by GM-Business Development & Leasing.
Job Authorities
  • Budgeting and forecasting of leasing and revenues.
  • Liaise with the Legal Team to resolve any legal issues with tenants.
Education Criteria and Skills
  • Hold a Bachelor's Degree from a reputable university in any discipline.
  • Skills:
    • Effective Communication (Oral and Written)
    • Negotiations
    • Decision Making
    • Strategic Planning
    • Project Management
    • Budgeting and Forecasting
    • Self-Starter/Self-Motivated
    • Team Player
    • Team Management
    • Ability to train team on leasing processes
    • MS Office (Word, Excel, PowerPoint, Outlook)

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