Abstract lease terms and notice dates
Leases and amendments are read and the terms you track, such as rent, escalations, renewal options, CAM and recovery clauses and notice dates, are extracted with a link back to the clause. Uncertain fields go to a reviewer before anything is written to your records.
Function: Legal and compliance · Industry: Property management
Abstract lease terms and notice dates
6 steps
At a glance
- Trigger
- A lease or amendment is added to the document store.
- Typical inputs
- Leases, amendments and side letters
- List of abstract fields
- Property and tenant records
- Notice and option calendar settings
- Systems it usually connects to
- Yardi
- AppFolio
- Google Drive
- Google Sheets
- How the work splits
4 rules, 1 model, 1 person steps
How it runs, step by step
6 steps, each tagged by what does the work. Rules are fixed logic, a model reads or drafts, and a person decides.
- Rules Fixed logic in code
- Model AI reads or drafts, with a confidence score
- Person A named person decides
- 1
Assemble the lease set
RulesAmendments and side letters are linked to the base lease so the current terms can be derived.
- 2
Extract the fields
ModelA model reads each document and extracts rent schedule, escalations, term, options, recoveries and notice periods with the clause reference.
- 3
Validate the values
RulesDates are checked for order, rent amounts for consistency with the schedule, and fields against the allowed formats.
- 4
Review the flagged fields
PersonAn analyst checks low-confidence and conflicting fields against the clause and corrects them.
- 5
Write to the system
RulesVerified terms are saved to the property system, and notice and option dates are added to the calendar.
- 6
Remind the owners
RulesAsset managers receive reminders before options and notice deadlines, with the clause attached.
Where people approve
The decisions that stay with your team, whatever the confidence score says.
- An analyst verifies every flagged field.
- An asset manager decides on option exercises and notices.
- Disputed interpretations go to counsel.
KPIs to track
What to measure, before and after. Targets come from your own baseline.
- 01Leases abstracted per analyst-day
- 02Fields corrected on review, by field
- 03Notice deadlines caught in advance
- 04Time from signed lease to abstract
Questions about this workflow
How does it handle non-standard or hand-amended leases?
Those get lower confidence and are sent to review, with the clause highlighted. We keep a list of the layouts that cause trouble so the next batch improves.
Can it abstract a whole portfolio at once?
Yes, as a backlog project. We usually start with a sample, measure accuracy against your existing abstracts, then run the rest with spot checks.
Which steps use rules, a model and a person?
Rules: assemble the lease set; validate the values; write to the system; remind the owners. Model: extract the fields. Person: review the flagged fields. Rules are fixed logic in code. A model reads or drafts and reports its confidence. A named person decides.
What do we need to start?
Typically: leases, amendments and side letters; list of abstract fields; property and tenant records; notice and option calendar settings. You also need read access to Yardi, AppFolio, Google Drive and Google Sheets, or the equivalents you use. A workflow audit measures your volumes and past cases first, then gives a fixed price for the build, so you can decide with real numbers.