✨ Built for deal timelines
Lease Abstraction for Due Diligence
An acquisition goes under contract and 200 leases land on your desk — originals, amendments, estoppels, side letters — with a diligence deadline that was set before anyone counted the documents. At 4–8 hours of manual reading per lease, that stack is months of work compressed into weeks, and every shortcut taken now becomes a surprise after closing: a rent roll that does not match the actual escalation language, a termination option nobody priced, an amendment the seller’s data room labeled as a rider.
PropETL abstracts acquisition portfolios in days, not weeks. AI-powered extraction reads every document with page-level citations, a lease abstraction specialist verifies each abstract against the source before delivery, and the output is structured so it serves the deal team during underwriting and then flows straight into ERP onboarding after closing — the same abstracts, used twice.
Speed that still stands up to scrutiny
Diligence abstraction has two failure modes: too slow, and the deal team underwrites off the seller’s rent roll unverified; or fast but unauditable, and nobody can trace a number back to the lease when the lender or investment committee asks. The fix for both is the same architecture — AI extraction sets the pace, and every extracted value carries a citation to the page it came from, so an analyst can verify any rent step, option date, or recovery clause against the source in seconds.
Human QA closes the loop. A specialist reviews every abstract before delivery, with confidence scoring flagging exactly where judgment was applied. On a live deal that matters: you get the speed of machine reading with a named review step your diligence memo can rely on.
Rent-roll verification against the actual leases
The seller’s rent roll is a summary prepared by the seller. Diligence abstraction rebuilds it from the primary documents: base rent and every escalation step, recoveries and CAM structure, abatements, deposits, and the true commencement and expiry dates after all amendments are applied. Discrepancies between the offering materials and the controlling lease language are exactly what re-trades and post-closing disputes are made of.
Because our abstracts are page-cited, the comparison is not “our spreadsheet vs their spreadsheet” — every variance comes with the clause that proves it, ready to drop into a diligence memo or a purchase-price discussion.
The landmines diligence abstraction is for
- ✓Co-tenancy clauses: rent reductions or termination rights triggered when an anchor leaves — a single clause that can change the value of a retail asset
- ✓Termination and contraction options: early-out rights, one-time kick-outs, and notice windows that shorten the real WALT behind the headline lease term
- ✓Change-of-control and assignment provisions: consent requirements and transfer triggers that the acquisition itself may trip
- ✓Unrecorded or conflicting amendments: the fourth amendment that changes the option rent, sitting in the data room under a generic filename — we merge each lease file into one package and abstract the controlling terms, flagging conflicts rather than silently resolving them
- ✓Exclusive-use and restrictive covenants: obligations that constrain future leasing of the rest of the asset
From closing binder to ERP go-live
Most diligence abstracts die in the deal folder, and after closing a second team re-abstracts the same leases for lease administration. Ours are built to be used twice: the structured output that served underwriting is shaped for how ERPs store lease data — tenants, units, lease terms, charge schedules, options — so post-closing onboarding starts from verified data instead of from scratch.
That is the lens we bring from 20+ real ERP implementations, and for Yardi teams it goes further: PropETL’s ETL engine validates against hundreds of Yardi import modules and thousands of field-level rules, with Yardi-ready import files rolling out to waitlisted clients. One abstraction spend, two deliverables — the diligence answer and the go-live data.
Frequently asked questions
How fast can you abstract a 50-lease or 200-lease portfolio?
Batches are delivered in days, not weeks — AI extraction sets the pace and specialist QA keeps every abstract verified, so a 50-lease portfolio is a short engagement and a 200-lease portfolio can still meet a diligence window that manual abstraction shops cannot. Tell us the portfolio size and your deadline and we will confirm a schedule before you commit; the free sample round can run in parallel so you see real output immediately.
What do the deal team and the lease admin team each receive?
The same verified data, cut two ways. The deal team gets abstracts organized for underwriting — economics, critical dates, options, and the landmine clauses, every value cited to a source page for the diligence memo. The lease administration team gets the identical data structured for ERP onboarding: tenants, units, lease terms, and charge schedules shaped for how systems like Yardi store them, so post-closing setup does not start with re-reading the leases.
How do you handle conflicts between a lease and its amendments?
Each lease file — original, amendments, riders, side letters — is merged into a single package before extraction, so the abstract reflects the current controlling terms rather than the signature copy. Where documents genuinely conflict, or an amendment appears unrecorded or out of sequence, we flag the conflict with citations to both passages instead of silently picking one. On a live deal those flags are often the most valuable lines in the deliverable.
How is confidentiality handled during a live deal?
Under NDA, executed before any documents move. Your documents are used only to produce your deliverables and are deleted on request after delivery — nothing is retained for training or reused elsewhere. We are happy to work within the confidentiality terms of your purchase agreement or data-room rules; tell us the constraints when you scope the engagement.
What does due diligence lease abstraction cost?
Pricing is per lease and depends on volume, document length, and amendment count — industry outsourced abstraction typically runs $150–400 per lease, and we quote after seeing a representative document from the actual portfolio. Send one lease from the data room as a free sample round and you get back a finished, page-cited abstract plus a firm per-lease quote for the batch.
Get a quote — and a free sample round
Send one representative lease and we return the finished abstract, so you can judge the quality on your own documents before committing to anything.