Lease Abstraction Services
One of your most valuable assets, lease data is at the core of your tenant relationships, revenue generation and profitability.
Though there is a strong chance that your lease data is not as accurate and dependable as it possibly can be.
JBL Data renders a wide range of lease abstraction services, right from lease audits and one-time lease abstraction to ongoing lease abstraction services, covering addition of new leases as well as renewals.
Some of the key lease abstraction services information that JBL Data extracts and updates are:
Operational Aspects of Lease Data
- Basic information covering address, floor, suite, rentable square feet, landlord, tenant, sublease, pro rata share, etc.
- Terms of lease including commencement and expiration dates of lease, rent and provision for renewal, etc.
- Options of lease renewal, expansion, contraction, termination, relocation, purchase, etc., with the tenant
- Options of termination, relocation etc., with the landlord
- Legal notices comprising landlord, tenant or default notices, etc.
- Miscellaneous lease information pertaining to signage, parking, guarantor, brokers, tenant enhancements and any kind of changes, etc.
Financial Aspects of Lease Data
- Rent data comprising base rent, information related with increase, abatement, outstanding, renewal, security deposit, late deposit, etc.
- Additional rental fee dealing with property taxes, utilities-premises, repairs and maintenance, common area maintenance (CAM) fees / operating expenses, insurance, etc.
JBL Data can help you accelerate the lease abstraction process, improve the quality of your lease data and make your operations more efficient while reducing the costs. Key features of our services include:
- Creating a custom workflow
- Scanning of the lease documents
- Emphasizing the critical points in the source document for future reference
- Devising a bespoke lease abstraction template, and capturing the lease information in the required format
- Distilling the lease data into our proprietary lease data repository
- Comprehensively managing the project all through the lifecycle of the lease abstraction process
- Updating the abstract at regular intervals, including latest amendments, lease renewals, extension options, fresh agreements, etc.
- Delivering reports in your preferred file formats
With our stringent processes and systems, we ensure that the interpretation and abstraction of your lease is accurate and consistent. To obtain more information about our lease abstraction services, please contact us.