Lease Abstraction

Your lease data could be better

As the core of tenant relations, collections and profitability, your lease data is one of your most valuable assets. But your lease data is probably not as consistent and accurate as it can be. At first glance most real estate companies would say their data is good, but consider the following questions:

  1. Are your lease documents in separate, geographically disbursed places? Are leases abstracted by geographically disbursed employees or property managers?
  2. Is a significant portion of your portfolio derived from property acquisitions, resulting in a large number of tenant leases executed on non-standardized and inconsistent lease forms?
  3. Do your tenants frequently dispute or request additional information regarding CAM and Tax recoveries?
  4. Do you sometimes miss billing tenants for rent increases by one or more months?
  5. Are you seeking to improve lease data quality while reducing labor costs?

If you answered yes to any of these questions, the negative impact to your operations and collections could be significant. RTrust can help you improve your lease data quality and operations while reducing costs.

RTrust can improve consistency and accuracy in abstracted lease data

RTrust provides a centralized lease abstraction process staffed by professionals who specialize in commercial leases. This centralization accelerates the lease abstraction process and delivers consistent, accurate lease data across your portfolios.

The RTrust difference

RTrust‘s Lease Data Abstraction services range in scope from one-time lease abstraction efforts in support of transaction due diligence, lease audits and system implementations to ongoing lease abstraction of new leases and renewals. Regardless of the scope, however, our Lease Abstraction services all feature the following key differentiators:

  • Custom abstraction templates based on your needs and business practices help you set high standards across portfolios
  • Rigorous processes and systems ensure leases are interpreted and abstracted consistently and accurately
  • Our proprietary Lease Abstraction Software (NCAT) acts as a centralized repository for abstracted lease data and adds online data quality review and comparison features
  • Comprehensive project management during the lifecycle of the lease abstraction services helps you maintain control over this valuable business process

How our Lease Data Abstraction process works

RTrust believes that we bring the greatest value to our clients when retained to provide ongoing lease abstraction services. We develop a personalized solution composed of the right activities for your business including:

  • Creation of a customized abstraction workflow in our proprietary work flow application
  • Implementation of a document repository, as requested
  • Scanning of lease documents
  • Indexing and compiling of scanned lease documents within the document repository
  • Creation of a customized lease abstraction template which ensures we accurately capture the lease information that is important to you in the format you request
  • Abstraction of lease data into our proprietary lease data repository
  • Ongoing lease data validation after the end of the abstraction project which includes updating lease data from recent amendments, renewals/termination/extension options, as well as new lease agreements

Experience with top property management systems

Our services include entry of your lease data into your property management system or financial modelling software including:

  • Yardi
  • MRI
  • J.D. Edwards
  • Tririga
  • SkyLine
  • Timberline
  • Argus
  • Dyna
  • Cougar
  • Yardi DCF

What now?