Lease Abstraction

Save hours of manual work using an AI-powered lease abstraction platform

When properties are leased, it is important to keep track of important details like commencement dates, landlord and tenant obligations, payments, contracts and termination dates.  This information is usually stored within pages of paper files whether kept physically on site or stored electronically in scanned files and retrieving it can take hours of manual work.  Lease abstraction comes into play when the crucial data is extracted from the lease document and added to a summary, so that important information can be viewed, monitored and updated easily without the reader needing to scan through tens or hundreds of pages.

Real estate lease abstractions can take anywhere from 4 to 8 hours per lease. ProLease, as part of MRI Software, offers a lease abstraction process using artificial intelligence through MRI Lease Intelligence, an AI powered data extraction and contract analytics platform.  Integration between Prolease and the MRI Lease Intelligence platform will save hours of admin time and provide users with quick access to the data they need.

lease abstraction

KEY FEATURES

Convert your documents into machine-readable text

Access structured data in an index, table, map, or calendar view

AI extracts key data from your documents

Create dashboards to drive insights from your data

Each extracted data point links to the source information

Export data into Excel

Data is validated via a two-step checking process

Integrate directly to Prolease or any 3rd party system

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