PRSM 2012 Best Practices - (Page 79)

STrEAMLiNiNg ThE STOrE CLOSiNg PrOCESS AUTHOR karen halley, director, Property Administration COMPANY big lots, inc. chAllenge: Closing company stores and turning over occupancy needed an improved process. Keys were not being turned over to landlords in a timely manner and repairs that leases required be made were not completed. In the past, the company would simply remove its fixtures, lock the doors and sometimes mail the keys to the landlord. By not having an established process, unnecessary rent payments were being made and legal issues regarding repairs that were not made prior to vacating a space were developing. Thousands of dollars had been spent during the past few years settling disputes related to rent and repairs. best PrActice: An email is sent out to an internal distribution list of employees who have a part in closing a store and turning over occupancy. A checklist is attached to the email that is designed to take a proactive approach to the store closing process. The store managers or district managers are requested to complete a checklist 45 days prior to a lease termination date. The checklist below is a tool that is currently used and lists the condition of the restrooms, plumbing, walls, floors, ceiling, etc. and the potential repairs that may be needed prior to turning over occupancy to a landlord. Photos are also requested so that the property management team can assess the situation to determine what repairs may be needed. Each lease is reviewed as well so that occupancy is turned over to a landlord in accordance with the lease. A walk-through is coordinated now with a Big Lots representative and a landlord representative and the form below is used during the walk-through, which the landlord signs to document when the keys are transferred. results: By creating the checklist, a walk-through form and obtaining photos 30-45 days prior to the termination date, it has provided property management the information needed to proceed with any repairs that may be required to turn over the space in accordance with each lease. This process has reduced the legal issues as repairs are now getting completed prior to turning over occupancy. The walk-through form has eliminated the issue of the keys not being returned in a timely manner to the landlord, thus eliminating unnecessary rent payments. VeriFicAtion oF eFFiciency And sAVings cAPtured: In past years, more than $2 million was spent in unnecessary costs relating to unresolved repairs, rent and attorney fees related to closing stores. Although some issues may not be eliminated completely; by establishing this best practice, positive results are expected with regard to fewer costs related to a closing store. 2012 Best Practices | 79 http://www.prsm.com/bestpractices

Table of Contents for the Digital Edition of PRSM 2012 Best Practices

Conducting Multi-Site Paving Improvements to Ensure Continuity
Conducting Multi-Site Paving Improvements to Ensure Continuity
Exterior Rebranding
Exterior Rebranding
Getting the Most Value Out of Roof Management
Getting the Most Value Out of Roof Management
Pervious Concrete Pavement Solves Drainage Challenge
Pervious Concrete Pavement Solves Drainage Challenge
Pervious Pavement: Concrete Solutions to Driveway Stormwater Drainage and Sustainability Problems
Pervious Pavement: Concrete Solutions to Driveway Stormwater Drainage and Sustainability Problems
Applying Bipolar Ionization to Improve Indoor Air Quality and Save Energy
Determining Responsibility for Ceiling Leaks
HVAC Maintenance and Repairs Quote Review
Managing HVAC Energy Usage Without Installing an Energy Management System
Solving HVAC Issues on Landlord Operated Systems
Creating a Standardized Cleaning Chemical Program
Floor Replacement Planning and Execution
Improving Pest Control Monitoring to Maintain Store Cleanliness
Streamlining Store Cleaning Through Internal Benchmarking
LED Conversion Bolsters Ambiance, Bottom Line and Environment.
LED Gas Canopy Lighting Upgrade
Lighting Maintenance
Retrofitting Signage with LED Technology
Performing Basic Troubleshooting to Save Money
Implementing Repair Audits to Ensure Customer Safety
Improving Quality, Cost and Schedule Through Safety Education
Managing Extended Power Outages Through Emergency Response
Managing Risk Through Slip Resistance Testing
Creating Energy Teams to Pursue Opportunities
Formulating Green Solutions
Making Data Centers LEED Compliant
Outfitting Facilities with an Eye on ENERGY STAR Certification
Recycling Cooling Water From Air Conditioning Systems for Toilet and Landscaping Use
Sustainability-How the Facilities Team Can Contribute
Driving Down Waste Expense
Reducing Trash and Recycling Expense for Retail Locations
Transferring Compactor Maintenance to a Service Vendor
Waste Service Efficiency and Compliance
Waste Evaluation and Right Sizing to Reduce Cost
Asset and Service Warranty Tracking and Management: More Fully Realizing the Value of Budget Expenditures
Conducting an Organized Meeting
Proactive Maintenance Scheduling and Delivery
Repair Reductions by Participating in Design and Construction Table
Streamlining the Store Closing Process
Achieving Process Improvement Through Onsite Assessment of KPIs
Forecasting a Maintenance and Repair Budget
How to Calculate Return on Investment
Tracking Finances for Facilities
Centralizing Vendor Training and Management
Creating a Service Vendor Call Center to Save End Users’ Money
Answering a Call Status Challenge with an IVR Solution
Communicating Product Recalls Using a CMMS-Inspired Module
Doing More with Less and Saving Money in the Process
Ensuring the Accuracy of Web-Based Maintenance Requests
Establishing an End to End Procure-to-Pay Process
Leveraging Existing Technologies to Provide Updated Process Improvements
Quality Management of Bundled Periodic Services
Reduced Dashboard Time at Supply Houses
Parking Lot Management
Creating Best-In-Class Snow and Ice Management White Paper
Energy Savings/HVAC Air Filter Bypass
Managing a Retail Lighting Retrofit Project – Bright Ways to Improve Your Lighting and Your Bottom Line!
Managing Energy Usage with Interval Meter Calibration
Navigating the Department of Energy’s Higher Efficiency Regulations
Supplier Insights into Competitive Sourcing White Paper
Testing HVAC System Options to Reduce Costs and Labor
Understanding Retail Facilities Sourcing White Paper
Glossary of Acronyms and Terms
Index.

PRSM 2012 Best Practices

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