Leasing Management

Company Background

LHN Group is a real estate management services group with expertise in space optimisation. They also provide complete facilities management and logistics services. Taking old, unused and under-utilised industrial, commercial and residential properties, LHN enhances and transforms them into thoughtfully designed and highly usable space. LHN manages 33 industrial, commercial and residential properties in Singapore, Indonesia and Myanmar with a total net lettable area (NLA) of over 3.807 million square feet.

In 2012, LHN noted trending demand for readily furnished commercial spaces and a business environment in Singapore and Jakarta which requires co-working and co-living spaces. To match its expertise in space optimization, LHN started looking for smarter leasing management solutions to help manage their portfolio of commercial spaces under lease.

The Problem
The unique requirements of LHN were further complicated by the diverse types of properties it offered, from traditional offices to its innovative GreenHub Suited offices, and other commercial spaces such as recreational space, sports facilities and spaces enhanced for children.

The Ask

To meet its diverse needs, LHN needed an infinitely scalable technology solution that would scale up and down for managing single beds in dormitories to a full portfolio of commercial leases.

The Solution

Process

IBASE partnered with smart-lock company, Igloohomes, to provide its Lease solution enhanced with digital contract signing that allowed LHN to manage a large number of short to medium term leases at scale with very economical manpower resources.

Solution

The solution provided LHN with the means to compile all tenancy documents and information into a single source of truth for managing leasing contracts for properties no matter where their geographical location

Lease

LHN preferred to subscribe to the SaaS model, where it paid a monthly recurring subscription to use the Lease solution, as this allowed it to match its cashflows from leasing revenue. Furthermore, LHN found the SaaS version of Lease already suitable for its needs without any need for further customization, given its deep and wide-ranging workflows for tenant management, consolidation of lease portfolios, and calculating monthly rentals.

Integration

The solution implemented for LHN included the integration of DocuSign to better facilitate the process of contract signing and allow tenants to sign the contracts digitally. This integration enabled LHN to fully digitalize the process of onboarding tenants, allowing it to move to a fully paperless process and eliminating several manual steps.

Experience

For a truly seamless experience, the solution also incorporated the use of IglooHome Smart Locks for all units, which allows tenants to self-access the leased unit during the contractual period. During the tenant on-boarding process, a numerical pin code is sent to tenants for accessing their specific units. This is made possible by tagging the smart locks to each unit through integration with our Lease system.

Visible Results

This project is currently deployed to a total of 3 properties (2 in Singapore and 1 in Myanmar), comprising of more than 500 units.

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Units Deployed
“Our previously manual and labour-intensive processes are now digitalised and staff workload is greatly reduced as the process of preparing documents and keeping track of tenancy contracts are now streamlined. With all tenancy documents and information being recorded and managed through the Qornerstone Lease platform, we have better visibility on the occupancy rate of our properties, allowing us to further enhance our strengths in space optimization.”