KBS, or Kellermeyer Bergensons Services, is a facility services company that offers janitorial services. KBS provides cleaning, disinfecting, and sanitizing services for a variety of industries.
KBS faced challenges in lease administration, struggling to maintain compliance with new financial, reporting, and regulatory requirements due to a mix of diverse technology services, fragmented manual processes, and custom spreadsheets. Additionally, issues arose in retrieving security deposits from landlords.
Mohr addressed these challenges by:
Mohr, leveraging Lease Harbor software, helped KBS migrate from a system involving diverse technologies, manual processes, and custom spreadsheets to a more streamlined and efficient approach.
Mohr also facilitated the retrieval of security deposits by providing comprehensive information about leases and locations to landlords, ensuring a timely return.
The implementation of Lease Harbor resulted in a robust lease administration system. This system empowers KBS to effectively track and manage leases, real property, and other assets. It provides detailed reports for lease data, accounting, and management, ensuring compliance with ASC 842.
Notably, before Mohr’s intervention, KBS had no centralized software or process to handle 150+ real estate locations and 1000+ equipment leases. The migration into Lease Harbor consolidated fragmented information into one cohesive platform.
The results are substantial. The streamlined process enabled various departments at KBS to utilize the software efficiently. Significant savings were realized through proactive management of CAM (Common Area Maintenance) reconciliations and the successful collection of security deposits.
Mohr’s strategic approach has transformed KBS’s lease administration, providing a centralized and compliant system that enhances efficiency and ensures substantial savings.
For more information about lease administration services, please contact Sohail Hamirani.
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