Lease Administrator

WHY JOIN ALO?

Mindful movement. It's at the core of why we do what we do at ALO-it's our calling. Because mindful movement in the studio leads to better living. It changes who yogis are off the mat, making their lives and their communities better. That's the real meaning of studio-to-street: taking the consciousness from practice on the mat and putting it into practice in life.

OVERVIEW

We are seeking a highly organized and proactive Lease Administrator to manage the day-to-day administration of our retail lease portfolio. This role will serve as the key liaison between the Accounting, Legal, Real Estate and outside Property Managers to ensure all lease documents are accurately maintained, payments are made, and lease terms are enforced.

RESPONSIBILITIES


Lease Management

• Manage internal communications on lease executions and timing.
• Administer and manage lease agreements for store locations, ensuring compliance with terms and conditions.
• Oversee the preparation, tracking, and execution of leases, renewals, amendments, and terminations. Review lease abstracts for accuracy for all executed lease documents. Maintain a comprehensive lease database and ensure all documents are up-to-date and accessible.
• Monitor critical lease dates (e.g., renewal, rent escalations) and proactively address upcoming deadlines to ensure timely actions.
• Liaise with abstract team and accounting teams to continuously update and maintain the lease database.

Expansion Support

• Collaborate with the Real Estate and Legal teams to ensure leases are negotiated and executed efficiently as the company expands its footprint. Support the coordination of site selection, lease negotiations, and store openings, ensuring alignment with the company's growth strategy.
• Assist in the review and analysis of lease terms and conditions in accordance with local laws and regulations.

Financial Oversight

• Review rent payment schedules and manage the accuracy of financial obligations under lease agreements in coordination with accounting teams.
• Assist with budgeting and forecasting for lease-related expenses in collaboration with the finance and operations teams.
• Coordinate with accounting to ensure timely and accurate lease payment processing.
• Review and approve new real estate charges, increases in reoccurring charges and annual reconciliations to ensure alignment with financial obligations under lease agreements.
• Work closely with the tax consultants and internal tax team on business rate adjustments as necessary

Documentation and Compliance

• Maintain accurate and complete lease files for all properties, including any amendments, extensions, and addendums.
• Ensure all leases comply with local, regional, and regulations, as well as company policies.
• Liaise with legal counsel and Landlords to address any lease disputes or legal issues that arise.

Cross-Functional Collaboration

• Partner with internal departments (Real Estate, Legal, Finance, Operations, and Construction) to ensure a seamless lease administration process and support store openings and relocations.
• Provide lease summaries and reports to senior management to support strategic decision-making and expansion planning.

Reporting & Analysis

• Generate and present regular reports on lease status, key dates, and financial obligations for stores.
• Assist with lease audits, identifying discrepancies or potential risks and working to resolve them.

Insurance

• Coordinate with insurance company to produce compliant COIs and share with Landlords
• Manage annual renewals of COIs
• Update annual COI database

People Management

• Manage any outsourced or in house lease administration teams, ensuring compliance and best practices
• Strong understanding of managing outsourced processes and systems

QUALIFICATIONS

• Bachelor's degree in Business Administration, Real Estate, Finance, or a related field.
• Minimum of 5 years of experience in lease administration, preferably in the retail, legal or real estate industry. International lease experience is a requirement.
• Strong organizational and multitasking abilities with keen attention to detail.
• Proficient in lease management software and MS Office Suite (Excel, Word, PowerPoint).
• Knowledge of international lease terms, laws, and best practices.
• Excellent communication and negotiation skills, with the ability to work effectively with cross-functional teams and external partners.
• Ability to work independently and manage competing priorities in a fast-paced environment.
• Strong problem-solving skills and a proactive approach to resolving issues.
• Proficient in accounting and legal principles.
• Additional ad-hoc responsibilities as needed.
• Prior management experience.

The base salary range for this position is $100,000-$130,000 per year which represents the current range for the base salary for this exempt position. Please note that actual salaries will vary based on factors including but not limited to location, experience, and performance. As such, on occasion and when applicable, there is the possibility that the final, agreed-upon base salary may be outside of the upper end of the range. Please also note the range listed is just one component of the company's total rewards package for exempt employees. Other rewards may include performance bonuses, long term incentives, a PTO policy, and many other progressive benefits.

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