When should a lease be abstracted? Generally, leases should be abstracted at certain times before and during ownership of the property, including:
Whenever a new lease is executed
Whenever a lease is modified in some respect
Prior to the acquisition of commercial real estate
Prior to the merger or acquisition of a company that has a portfolio of lease assets
Whenever a company acquires or contemplates acquiring a portfolio of leases
Whenever a property changes current management 
Whenever ownership converts to a new property management software system
Whenever lease files are not adequately organized 
Whenever a real estate company does not have complete confidence in the
accuracy and validity of its lease data
Immediately, if lease abstracts had not previously been created or recently updated.© 2009 LeaseProbe, LLC - Policy Disclaimer
