Getting your data summarized at low cost is one thing but ensuring that the data was accurate is another. We trust that you are making the right choice for yourself.
Our pricing is purely based on your need. Click on the Lease Abstract Checklist today for more info!
Functions outsourced frequently were cost controls, cited by 54% of the tenants, and accounting named by half (50%) the owners.
Data accuracy and integrity remains a challenge. Ensuring the quality of data was considered to be a very significant challenge by 30% of tenants, 40% of building owners, and 51% of service providers. Employing reliable and consistent data is essential for accurate reporting and sound management decisions.
You might be probably using some system: Property Management or Excel sheet in which you cannot input each and every line of Lease agreement. So, you would like to have abstracted/summarized data.
Based on this abstracted data, you are/might be pulling out fancy reports which the Company Management, Leasing Department, Finance & Accounting Team will be used to make important decisions.
So, if you are concerned about making the right decision then it is important to have correct and accurate lease abstraction.
You might have already heard of fancy terms like ‘Lease Abstraction Engine’, ‘Six Sigma process’, and other which our companies are using but in the background, they rely on their human resources to deliver accurate data – which they are not able to do so.
What is the whole point if even after hearing heavy jargon the data was not accurate?
To ensure the accuracy of data we take the following steps:
Utilize software for performing initial extraction.
Post extraction utilizes humans to review and confirm the data.
Summarize or abstract the data.
Get the data reviewed by 2nd human to make sure that there aren’t any mistakes or left out.
Perform final level review especially of Dates and Dollars to make sure that financials are 100% perfect. If there is any confusion or query we will update the same in the abstract.
Post abstraction you can always review the abstract text and provide your feedback/ratings.