Accurate lease abstraction is an essential foundation for all lease administrators
Practiced correctly, it allows lease administrators to stay up-to-date with key lease terms AND critical dates of your office, retail, or commercial property portfolio. Lease Abstracting is a complex but critical tool if you want to ensure that you have access to important data when you need it.
One of the first things that comes to mind when we discuss key lease data, is the importance attached to the rent roll, and the need for getting the rent roll and its various elements summarized accurately. A reliable lease abstract needs to recognize that there are other financial fields that are equally important and require serious attention and reliable accuracy. Termination options, renewal options, expansion and the right of first refusal options are all important from the tenant’s perspective. They pave the way for a tenant to make a sound decision when it comes time to manage an existing lease — ensuring that your organization has the necessary information to make a prudent strategic decision.
NRTA’s Classroom LIVE Lease Administration Course provides a thorough review of Lease Abstracting best practices, while offering participants the opportunity to interact with two highly respected experts within the lease administration profession.