LeaseLens

Free AI Lease Abstraction & Summary

Freemium

Description

LeaseLens is an AI-based software designed for lease abstraction. It addresses the often time-consuming, costly, and error-prone nature of manually abstracting lease agreements. By leveraging award-winning machine learning technology, LeaseLens enables users to extract relevant data points from real estate or commercial leases and generate a comprehensive abstract within minutes, significantly faster than traditional methods.

The platform's AI model, trained on thousands of lease agreements over 12 years, ensures accuracy and efficiency. Users can upload lease documents, and the system uses Optical Character Recognition (OCR) followed by its machine learning algorithm to identify and extract information. LeaseLens supports the abstraction of over 200 industry-standard fields, allowing customization based on user needs, thereby streamlining processes like due diligence, lease administration, and contract management.

Key Features

AI Lease Abstraction: Uses machine learning trained on thousands of leases to extract data.
GPT-4 Powered Summaries: Provides AI-generated summaries of lease content.
Rapid Processing: Delivers lease abstracts in minutes instead of hours.
Cost-Effective Model: View abstracts for free, pay $25 per export to Excel/Word.
Broad Lease Support: Handles both real estate and commercial lease documents.
Customizable Output: Select from over 200 data points for tailored abstracts.
OCR Integration: Automatically reads text from uploaded lease documents.
Bulk Processing Available: Option to abstract multiple leases simultaneously (contact required).

Use Cases

Automating lease abstraction for property management.
Streamlining commercial lease abstraction for equipment.
Accelerating due diligence processes.
Simplifying lease administration.
Improving contract management efficiency.
Reducing costs associated with manual abstraction services.

Frequently Asked Questions

What types of leases can LeaseLens abstract?

LeaseLens can be used for real estate lease abstraction in the case of property management and commercial lease abstraction for those who lease equipment.

Can I abstract multiple leases at once?

Yes! The underlying technology has been used to review millions of agreements. If you’d like to abstract leases in bulk, contact LeaseLens to get started.

What are the benefits of AI in CRE lease abstraction?

AI-based tools extract data in minutes versus hours for manual methods, offer significant cost savings, ensure accuracy using trained models, and save time, leading to accelerated due diligence, simplified lease administration, and efficient contract management.

How does LeaseLens make money?

LeaseLens allows free uploading and viewing of lease abstracts. It charges $25 if you choose to export your abstract to Microsoft Excel or Word.

What lease information does a LeaseLens abstract contain?

LeaseLens can automatically identify and extract over 200 industry-standard fields, including title, critical dates, renewal options, and square footage. Users can customize the abstract to include specific provisions relevant to their needs.