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What is a lease abstract?
It is a summary of critical data and
information in commercial leases. It takes out all the important
information and condenses all the important key terms in fine print
that makes an easy report out of it. Rather than reviewing page after
page of a lease whenever you need to make a decision, you simply look
at the abstract. The lease abstract allows a lease administrator,
leasing agent, and property or maintenance manager to renew frequently
referenced lease information without having to take time read through
a lease to find the required information. The details of a commercial
lease are usually full of long, wordy paragraphs written in convoluted
legal language.
The details of an
abstraction vary depending on the type of lease. A person needs a
lease abstract for understanding lease purposes. When a person is
ready to buy a commercial property with tenants such as office complex
or a shopping center, it is difficult to read through the entire lease
with a language that is complicated. Lease abstractions are usually
produced by
abstracting agencies such as LeaseProbe. LeaseProbe
reviews, analyzes and abstracts thousands of leases each year. LeaseProbe teams focus on both financial and legal
lease term
abstractions that are customized for each assignment. Each project is
assessed in great detail and provides you with a variety of reports
addressing discrepancies, missing documents and other critical issues.
LeaseProbe provides
custom tailored abstraction summaries for every key financial,
business and legal provision of each commercial lease. On a building
or property wide level, summaries include, charts detailing lease
termination dates, renewal dates, security deposits, rent projections,
and expansion options, along with a series of other detailed reports
for reference or income projection purposes.
Lease abstracts and
reports are immediately delivered in the required format and can be
easily integrated with financial systems and other applications.
LeaseProbe will provide you with accurate lease abstracts completed by
commercial lease management professionals. LeaseProbe will abstract
your leases quickly, accurately and economically in a consistent and
easy to read format. The opportunity of growth in real estate value
relies profoundly upon complete realization of the leases.
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