Lease Administration
Lease administration is when a person or a company rents a place to live or work in from someone else. Just like when you borrow a toy from a friend, you need to take care of it and give it back to them when you're done, the person or company renting a space needs to take care of the place they're renting and give it back to the owner when they're finished with it.
Lease administration involves keeping track of important information about the rental agreement, such as how long the renter is supposed to stay there, how much money they need to pay each month to the owner, and what kinds of things are allowed in the rented space like pets or decorations.
The person or company handling the lease administration is called a lease administrator, and they are responsible for making sure everyone follows the rules laid out in the rental agreement. They might also have to deal with issues that come up during the rental period, like maintenance problems or disputes between the renter and the owner.
In summary, lease administration is like taking care of a borrowed toy, but instead of a toy, it's a place to live or work in that needs to be rented from someone else, and there are rules that need to be followed to make sure everyone is happy and safe.
Lease administration involves keeping track of important information about the rental agreement, such as how long the renter is supposed to stay there, how much money they need to pay each month to the owner, and what kinds of things are allowed in the rented space like pets or decorations.
The person or company handling the lease administration is called a lease administrator, and they are responsible for making sure everyone follows the rules laid out in the rental agreement. They might also have to deal with issues that come up during the rental period, like maintenance problems or disputes between the renter and the owner.
In summary, lease administration is like taking care of a borrowed toy, but instead of a toy, it's a place to live or work in that needs to be rented from someone else, and there are rules that need to be followed to make sure everyone is happy and safe.