FAQ
LeaseLens can be used for real estate lease abstraction in the case of property management and commercial lease abstraction for those who lease equipment.
Yes! Our underlying technology has been used to review millions of agreements. If you’d like to abstract leases in bulk, contact us today to get started.
Most lease abstraction services that use manual data extraction can take anywhere from four to eight hours to abstract one lease and cost hundreds of dollars. This process is time consuming, costly and error-prone.
AI-based CRE lease abstraction tools can extract the same data in minutes using machine learning. The underlying AI technology has been trained for over 12 years and is used by the top law firms worldwide. So you get accurate data you can trust, hundreds of dollars in cost savings per lease, and save a lot of time.
These time and cost savings result in accelerated due diligence, simplified lease administration and more efficient contract management.
LeaseLens is free to use! Upload original documents and view your lease abstract for free. If you’d like to export your abstract to Microsoft Excel or Word, it will cost $25. This is way cheaper compared to other lease abstraction services.
We do not share your data with third parties and leases are deleted after they have been abstracted.
When you upload your lease, we pass it through our optical character recognition (OCR). This allows LeaseLens to read and understand your document. Then, our AI scans your document for relevant lease information to extract. This is done using our machine learning algorithm that has been trained over 12 years to deliver accurate results.
There are over 200 industry standard fields that LeaseLens can automatically identify to extract into your lease abstract, depending on the type of abstract you choose and the provisions that you want to look for in your leases. This includes: title, critical dates, renewal options and square footage of premises among others. LeaseLens lets you customize what goes into your lease abstract, so you can quickly find the details you need.
You can view your abstract for free. If you’d like to export your abstract into a Microsoft Excel or Word lease abstract template, this will cost $25 per abstract.
Yes! To receive your lease abstraction results in an ETL spreadsheet format (that should enable you to upload them into most lease administration or property management systems, like Yardi), contact hello@leaselens.ai.
Yes! If you are doing a bulk lease review project, we can connect an experienced lease abstraction firm to provide an extra level of human review on top of your LeaseLens AI lease abstraction results. We are evaluating whether there is customer interest in a more automated process for having LeaseLens results reviewed by human lease abstraction specialists. Please let us know if you would be interested in this. Contact hello@leaselens.ai for help or more information.
