A real estate company delivered 7000 abstracted lease documents to its customers with Mobius’ lease abstraction

Casestudies > Real Estate > Lease abstraction

Business Need

A leading commercial real estate services firm based in US, specializing in tenant representation, requested our abstraction services to process a large number of lease documents with a quick turnaround time. They approached Mobius for technical consulting and needed a solution to handle the complexities involved in the abstraction process.

Challenges

  • The documents were highly complex and the condensing process was exigent
  • Immense effort was required to analyze the lengthy documents and extract details like payment dates, amounts and other specific details in more than 400 data fields
  • Latest revisions to the lease provisions had to be considered and monitored regularly before confirming the payment dates and amounts
  • Since most of the leases were close to expiration, the abstraction and data import process had to be quick, in order to allow the client to make timely decision as to whether the leases would lapse or be renewed

Process

  • To figure out the most efficient way to handle the project, Mobius began with a pilot batch of 100 leases that helped us gain a better perspective
  • The required data fields were abstracted by document tagging and cross-linking abstracted fields to the original lease document - This also ensured that the client could access the original clause easily

Results

  • Mobius achieved 100% accuracy and quality levels across critical date and dollar values
  • Our client was able to deliver about 7000 leases to their customers within three months

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