Lease Abstraction Process

Requirements

  • Preliminary discussion with client to understand their abstraction requirements and preferences including the level of detail to be captured
  • OHI’s team reviews representative lease agreements used by client to understand the underlying complexity of the leases
  • The abstract template to be used is finalized with the client
  • Understanding lease abstraction timelines and preparation of delivery schedule

Transfer of Lease Information to Abstract

  • Client provides lease documents, rent roll, and additional information by uploading to the secured shared drives Dropbox or Google Drive

Lease Abstraction Work-Process

  • Lease Abstraction Status Tracker is set-up (if multiple leases are to be abstracted)
  • Lease documents are reviewed in detail by the leasing specialist
  • Missing document report is shared with the client
  • Sample abstract is prepared by the lease specialist in the agreed upon lease abstract template
  • Abstract contains detailed section and page references, index of documents, notes and open queries(if any)
  • Key data is summarized in clear and concise abstracting language into final deliverable format
  • Prepared lease abstract is then reviewed by a senior leasing specialist to ensure completeness, accuracy and quality of the lease abstract. All key figures are double-checked

Final Deliverables

  • Abstracts are delivered in the format as defined at the start of the project