Lease Administration is the process of managing and overseeing lease agreements between landlords and tenants. It involves tracking important dates, such as lease start and end dates, renewal options, and rent payment schedules. This ensures that both parties comply with the terms of the lease and helps prevent disputes. Additionally, Lease Administration includes maintaining accurate records of all lease documents and related correspondence. This can involve monitoring expenses, managing property maintenance requests, and ensuring that any changes to the lease are documented properly. Effective lease administration helps optimize property management and enhances tenant satisfaction.