Lease abstraction is a crucial procedure for commercial real estate managers. All leases, whether it’s a retail lease, ground, office or industrial lease, needs to be abstracted. However, lease abstraction can be quite time-consuming and boring. Lease abstraction means is an effective way to capture important data from a lengthy lease and presenting the same in a summarized format. Since leases range from two to hundreds of pages, reading the same to look for relevant information becomes a tiring task. To overcome this hurdle, the lease abstraction process was initiated so that one can have easy access to important information. Complete Legal Outsourcing also provides abstracts that are tailored to work with all clients.
The content of leases varies from tenant to tenant. The process of lease abstraction involves reviewing the lease, summarizing all the information needed for completing a discounted cash flow analysis. The information of a lease has an direct impact on the rental income owing to the modifications made for features like rental rates and escalations as the rent rates increase as per the terms mentioned in the lease agreement and the Consumer Price Index also known as CPI. The abstraction team at Complete Legal Outsourcing has been providing lease abstraction services to a leading commercial real estate firms since 2013 and has successfully completed numerous lease abstraction projects. Complete Legal Outsourcing offers lease abstracts in multiple formats including XML, PDF and Microsoft Excel and Word.
A lease abstract is an important tool for the commercial real estate field. But, with so many complex facts and very grave business assumptions based on the information contained in the report, partnering with a trustworthy lease abstraction firm is of crucial importance. Complete Legal Outsourcing provides complete lease administration services to help property owners, real estate investment trusts (REITs), investors and property managers manage their portfolios more efficiently. A lease abstract is a summary of all the crucial financial info that exists in a commercial real estate lease. It can focus one’s attention to any unusual lease provisions, financial obligations and much more. Lease abstracts become important prior to an acquisition, merger or sale as they prove to be a valuable source for good decision making. For property managers, on the other hand, a lease abstract can help by accumulating all lease information into one place, so that the portfolio of leases can be managed more efficiently.
Some of the important information that a landlord needs at his fingertips are the lease terms that affect the quality of rental income based upon factors such as the tenants rights to lease additional space at a price already mentioned in the lease or to surrender back some space which the tenant no longer needs. In the real estate industry, the potential for business opportunities and possibilities lies up in lease documents. Summarizing these lease documents into abstracts, through the lease abstraction process, is the key for getting business insights out the extensive lease documents which contain several attachments, additions and supplements. Complete Legal Outsourcing provides an ideal resolution for accumulating business insight and managing the commercial real estate portfolios by simplifying legal terms of the leases into simple and concise abstracts. The lease abstraction team at Complete Legal Outsourcing are experts in abstraction of leases.
Abstracting important information from a lengthy lease is a tiring and a time consuming process. A lease may also contain additional amendments drafted owing to the changed requirements of the tenant. Hence it becomes crucial for the person doing abstraction to ensure that none of the crucial information is missed. Also it has to be made sure that all the important data is summarized in a glance through format. A discounted cash flow analysis of a multi-tenant commercial property needs information relating to diverse data fields. The lease abstraction process provides access to this data thus providing significant perceptions into the possible cash flow of the investment.
However one should not forget that in-house abstraction can be expensive and can prove to be a financial burden on small organizations. to overcome this hurdle, many offshore vendors offer abstraction services at an affordable price to such organizations. These offshore vendors support a team proficient in abstracting data and provide quality output within a stipulated time frame. So, if you are a budding business and are looking for effective data management at an affordable price, then outsourcing the abstraction jobs is the best solution. So, if you need a one-time lease abstract or have a changing portfolio of properties that needs to be abstracted on a regular basis, get in touch with the abstraction team at Complete Legal Outsourcing. Our team comprises of the top investigative talent and looks forward in assisting you attain your lease abstract goals. So, get in touch with Complete Legal Outsourcing today.