A lease abstract summarizes specific, key information from a lengthy lease document and makes it available for users to monitor, review and update easily. The abstract should summarize selected information from the lease, and show the reader where to look for further information. Additionally, all the financial terms of the lease deal are documented in the abstract, which makes it useful for property investors or lenders.
ArchStreet Partners works with you ("Client") to understand high level requirements of proposed abstracting project. Key information captured will be: Number of Leases, key data to abstract, format required of deliverables and due date timeline. ArchStreet Partners provides to you an estimated price, the payment schedule and a proposed Statement of Work based on ArchStreet's 4-Step Lease Abstracting Process defined below.
ArchStreet Partners works with you to define any custom requirements. Key information captured will be: Number of Leases (Real Estate / Equipment), key data to abstract, format required of deliverables and due date timeline. ArchStreet will assign you a Lease Abstraction Project Lead to work with you through the 4-Step process. You will also provide a point of contact ("POC") to maintain consistent alignment through the final deliverable. We agree to schedule of progress update meetings through the duration of the project, outlining deliverables and milestones that will be delivered to your POC.
You will provide all of the lease documents (original leases, amendments, addendums, etc) , rent roll, and any additional information by uploading to the ArchStreet Partners portal or providing document access through your secured shared drives Dropbox or Box.com, saved on a compact disc (CD) or hard copy version and mailed directly to ArchStreet Partners.
All of the lease documents will be reviewed in detail by our abstracting experts. Any missing documents will be identified and reported back to you. We will provide you with a sample abstract to ensure we are working towards your requirements. Key lease data will be summarized in clear and concise abstracting language into the final deliverable format that was agreed to. Progress update meetings to review progress of the work performed will be held as planned throughout the duration of the project.
Once all requested abstracting has been completed, the final abstracts will be delivered in the agreed upon format and method of delivery. ArchStreet Lease Abstraction Project Lead will followup with your POC to ensure project completeness.
We summarize key financial and non-financial information in ArchStreet Partners’ standard template or the client provided template. We can abstract directly in lease software such as Yardi, JDE, MRI, etc. Our standard template provides key financial and non-financial information such as tenant information, SF details, lease terms, renewal options, current & future base rent streams, percentage rent (retail only), other income (promotional charges, etc.,), utilities reimbursement, taxes reimbursement, insurance reimbursement, cam reimbursement, parking information, co-tenancy, go-dark, other termination options, tenant improvement allowance, right of first offer, right of first refusal, relocation, kiosk restriction and other notes includes discrepancy comments based on lease vs rent roll.
Providing Lease Administration KPO services to effectively manage resources and expenses throughout the lease life-cycle of commercial real estate assets
Providing real estate investors, brokers and lenders with Cash Flow Analysis support services at highly competitive pricing
Improve processes, streamline operations, manage risk, and lower costs with ArchStreet's experience in real estate technology, accounting and asset management