The business case for AI-powered lease abstraction in commercial real estate
Today’s property managers and real estate departments face the challenges of balancing occupancy, managing revenues and costs and mitigating their risks to maximise portfolio performance. To accomplish these goals, businesses must successfully manage the document that sits at the core of the tenant/landlord relationship: the lease.
The data contained in real estate leases plays a critical role in helping tenants and landlords at both the operational and strategic levels of their organisations. Lease abstraction is commonly used to extract essential information, such as key terms and clauses, and make it more accessible for decision-making, but the traditional process requires manual work and takes time away from business-critical tasks.
The value of Lease Intelligence
The introduction of Artificial Intelligence (AI) to the lease abstraction process solves these pain points, unlocks valuable lease data and presents opportunities for landlords to maximise growth and revenue, or for tenants to more efficiently control their costs.
In this guide, we’ll discuss the benefits of AI-powered lease abstraction and how to select the right provider for your requirements.