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Use cases/Financial services/Lease abstraction

AI lease abstraction for Australian property owners

Lease abstraction means a model reads each lease and writes the rent, review dates, options, outgoings and make good terms into one register. Each entry cites its clause. A person checks each abstract before it enters the register. What goes is the hunting through lease PDFs for a date or a percentage.

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Supports
Lease administrator
Reads
Leases, Lease variations, Rent roll, Outgoings budgets, Rent invoices
Runs on
Your servers, on premises
Connects to
Yardi, MRI Software, SharePoint, Excel
Decides
A person, every time

Architecture

Everything runs on your servers

We build it on an open-weight model such as Llama or Mistral, served with vLLM on NVIDIA GPUs in your server room, data centre or colocation. Retrieval runs on PostgreSQL with pgvector, and the register connects to Yardi or MRI. No lease goes to a public AI service.

  1. SourcesLeases / Lease variations / Rent roll / Outgoings budgets / Rent invoices
  2. Your serversRead each clause → Build the register → Track critical dates
  3. ReviewLease administrator
  4. OutputOne register from every lease / Critical date tracking / Rent invoice checks / Outgoings recovery checks

It takes four jobs off the lease administrator

  1. 01

    One register from every lease

    Rent, reviews, options, outgoings and make good are read out of each lease into one register. Each entry cites the clause it came from.

  2. 02

    Critical date tracking

    Review dates, option windows and expiry dates are tracked from the register. The lease administrator gets a list before each date, with the clause beside it.

  3. 03

    Rent invoice checks

    Rent invoices are checked against the lease and the last review before they go out of Yardi or MRI. A mismatch goes to a person with the clause attached.

  4. 04

    Outgoings recovery checks

    Outgoings recoveries are split by the share each lease sets out and checked before they are sent. The property manager reviews the exceptions.

It goes live in five steps

  1. Step 01

    Collect the leases and the register

    Leases, variations, deeds of renewal and the current register or spreadsheet, with scanned and amended leases flagged as their own problem.

  2. Step 02

    Test against abstracts you trust

    Run the abstraction over leases your team has already abstracted by hand and compare. You see which fields the system misses and on what type of lease, and that sets the review rules.

  3. Step 03

    Abstract each lease with its clause

    Rent, reviews, options, outgoings and make good are written to the register, with the clause cited beside each entry.

  4. Step 04

    A person checks each abstract

    The lease administrator confirms or corrects every abstract before it enters the register. Low confidence fields are listed first.

  5. Step 05

    Check invoices before they go out

    Rent invoices and outgoings recoveries are checked against the register before they leave Yardi or MRI. Mismatches go to a person with the clause attached.

Software or a custom build

If your portfolio sits in Yardi or MRI, start with the lease administration and abstraction tools those vendors offer. A custom build earns its cost when leases are scanned or carry handwritten amendments, when you hold leases across several systems, or when no lease can leave your environment. We will say in discovery if the product you already pay for covers the work.

Yardi / MRI Software / SharePoint / Excel

In practice

The register is the product. Everything else, from date tracking to invoice checks, reads from it.

Leases are governed by state law. In NSW the lessor must give the lessee a disclosure statement at least seven days before a retail lease is entered into. Each state and territory has its own retail leasing law, and the rules differ. The register records the state beside each lease and your lawyers set the rule. Where leases hold tenant details, the model sits on your own servers, as set out in private LLM deployment architecture.

Read RAG on private infrastructure for how the clause citation works and where to put the human for the check on each abstract. Our private AI and AI workflow automation services cover the build, and the wider picture is on the real estate page.

Questions

What is lease abstraction?

Lease abstraction is reading each lease and recording its key terms in one register. The terms are rent, review dates, options, outgoings and make good. Each entry cites the clause, and a person checks it before it enters the register.

Can it read scanned leases and handwritten amendments?

Sometimes, but not as reliably as a typed PDF. We scope scanned leases and amended leases as a separate piece of work, and we tell you which leases in the portfolio are difficult.

How does it check rent invoices?

It compares each invoice with the rent in the register and the last review. A mismatch goes to a person with the clause attached. Nothing is changed in Yardi or MRI until a person approves it.

Do we need to change our property system?

No. What we build reads from Yardi, MRI and the other systems you already run, and checks work before it leaves them. We will tell you in discovery if one of those systems is the constraint.

Industries where this comes up

Real estate

More financial services use cases

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