Lease Abstraction, Lease Audit and Administration Services

OHI provides comprehensive and high quality lease abstraction, lease administration and lease audit related services. Our team of experienced leasing professionals are well versed with the nuances and technicalities of commercial, industrial and retail leases. Our high expertise in real estate sector developed over 12+ years helps us abstract and administer even complex leases with multiple renewal options, rent abatements, amendments, tenant allowances and complex passthrough of CAM charges among others. We are also familiar with real estate terms such as Hold Over, Radius Restrictions, Go Dark, Eminent Domain/ Sub ordination and Subletting.


OHI’s team has experience working in leading leasing and property management software such as Prolease, Lease Harbor, Yardi, MRI, Visual Lease, RE Flex , CoStar among others. Our services are used by 50+ commercial, retail and residential real estate companies in California, New York, Texas, Florida, Colorado, Kansas and Washington among others.

1 (646) 367-8976

Contact Us for a customized NO OBLIGATION proposal for outsourcing your Lease Abstraction and Administration Services.

Our Clients

300+ Clients in USA (50+ commercial and residential real estate firms)

Cost Savings

30-50% cost savings compared to in-house hired staff or onshore service providers

Staff with at-least four years of relevant real estate experience across leasing and accounting

Skilled Employees

Lease Abstraction Services (For Landlord and Tenant)

OHI uses detailed lease abstraction templates to capture the key lease terms with proper section and page notations. Leases can also be tagged appropriately. Some of the salient features of our lease abstracts are as follows: 


  • Rent Schedules with clear specification of monthly, annual and psf rents across each relevant period, renewal options and rent abatements
  • CAM, Taxes and Insurance Schedules with listing of Pro-rata shares, CAM Caps, Inclusions, Exclusions, Payment Period, Frequency and CAM audit terms
  • Fee Schedules covering late fees, administrative charges, miscellaneous fees
  • Tenant and Landlord Insurance Requirements
  • Termination Options with listing of notice dates
  • Tenant Allowances
  • Standard real estate clauses such as Assignment/Subletting, GoDark, Holdover, Radius and Uses Restrictions, Subordination
  • Lease Options and Rights
  • Lease Obligations
  • Guarantees and Waivers

We provide abstraction of lease documents including leases, amendments, subleases, letters for commercial, retail, industrial, residential properties, equipment and cell tower leases.

Lease Abstraction as per new ASC 842 Standards*

  • Abstraction parameters can be as per our check-list or the checklist prepared by your CPA/ASC 842 implementation consultant
  • Our services only cover abstraction. It does not cover integration, accounting or any other activity related to new ASC 842 implementation

Lease Administration Services (For Landlords)

  • Lease Abstraction
  • Setting up and maintenance of lease data in Yardi, MRI or other property management/leasing software 
  • Monthly tenant billing, post rent charges and generate rent statements
  • Rent receipting and deposit processing 
  • Review of receivables on weekly basis and coordination with property managers to expedite rent collection
  • Setting up and invoicing of CAM charges
  • Preparation of annual CAM reconciliation statements
  • Reporting of lease Information as needed

  • Preparation of customer statements, late fee notices, pending renewal notices, Etoppels and SNDAs 

  • Review of broker agreements and prepare leasing commission calculations
  • Ad-hoc portfolio analysis including occupancy cost analysis, vacancy analysis, rent roll analysis, utility cost analysis among others

Lease Audit Services (For Tenants)

Our basic lease audit service performs an initial review of individual leases verifying and reconciling all landlord charges including:


  • Base Rent (including free rent and rent abatements)
  • Rent Renewals
  • Operating Expenses
  • Common Area Maintenance ( CAM)
  • Real Estate Taxes
  • Landlord Insurance
  • CPI Escalations
  • Porters Wage Escalations
  • Late Fees and Miscellaneous Charges Levied
  • Electricity and Submeter Charges
  • Overtime HVAC Rates
  • Tenant Improvement (T/I) allowances

Acquisition Support Services (for Landlord)

Significant time and efforts are incurred during due-diligence activities in real estate acquisitions. OHI’s team provides extensive acquisition support services to help your team’s due diligence efforts. These services can also be used to ensure correct lease and accounting data is integrated into your leasing and accounting systems.


  • Reconciliation of lease charges set-up with leases
  • Rental and Other Fee Income reconciliation: Reconciliation of bank deposits (rent collected) vs rent and other charges booked in property management software
  • Verify Outstanding liabilities such as AP bills, mortgage, payroll, real estate taxes, insurance among others at time of sale of the property/handover of the property
  • Check if all leases and invoices have been attached in the software
  • Transition lease and accounting data across software
  • Any custom service required during ownership transition of the property

Software Expertise

We have high expertise across numerous lease abstraction and administration software used across USA.

Pricing

Our indicative standard charges for Lease Abstract and Administration Services are listed below. Custom packages of 25, 50 and 80 hours per month are available. Please contact us for a custom quote.

per month

Full Time Lease Administrator

$2350

160 hours dedicated monthly staffing

Commercial & Retail Leases

$100

per lease

Depending on number of leases and complexity

Hourly Charges

$12-16

Lease audit and review services

Need a custom quote or for other type of leases (equipment, cell tower) please contact us with your requirements!

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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

Lease Abstraction Process

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

40+

employees

real estate clients

50+

About Us

  • 50+ real estate clients across North America in all major states and real estate sectors
  • High client satisfaction - Most of our clients have been with us since 8+ years
  • Fully integrated real estate service provider providing services in leasing, administration, accounting, analysis and allied services
  • Specialist real estate outsourcing services provider since 2006
  • Senior management team with rich outsourcing and management experience since 2003 in global companies
  • Staff with at-least six years of real estate  outsourcing experience
  • High expertise in numerous lease abstraction interfaces such as ProLease, Accruent, Tango, MRI, Lease Harbor and Lease Query
  • Spacious office set-up with modern facilities and uninterrupted power supply
  • 15 MBPS high speed dedicated internet leased line
  • Custom packages of 25, 50 and 80 hours per month available

Client Profiles

A vertically integrated, full service real estate company based out of Bellevue, WA. They specialize in commercial properties. The firm has developed and built in excess of 81 properties and have more than 10,000 units under management.

A well-known fully integrated real estate investment cum asset management firm based in Tampa (FL). They manage a wide variety of commercial real estate assets and provide property management services to 3rd party commercial real estate owners.

A full service real estate investment management company. The company provides in-house acquisition origination, underwriting, transaction management, asset management, accounting and investor reporting for all investments. The company is based in Denver, CO.

A midsized real estate property management firm based out of Beverly Hills, CA. The firm manages over 50 properties, across 9 states, encompassing over 1200 tenants and nearly 1.5 million square feet.

A privately owned real estate management firm that specializes in the management of commercial and multi-family properties in the Greater Los Angeles area.

A well-known construction and development company in Canada specializing in construction and development of high rise concretes. It is a mid-sized firm and one of British Columbia’s most experienced and respected developers.

Useful Articles

The real estate abstract is a concise version of the original lease document. Between one to five pages long, It tells you where to look for detailed information.

A well-integrated system of lease administration includes the tools and tech that streamline the process into a smooth pulse.

Common Lease Terms- Understanding lease words and terms help you fully comprehend your lease agreement. Commonly used words and terms in lease agreements.

NNN lease? CAM charges? Do you know your commercial real estate lease terminology? This article covers CAM expenses and the terms associated with it.

Lease abstracts need to be crafted very carefully. It needs to be done by dedicated professionals. Consider outsourcing commercial lease abstraction service.

To steer clear of any inconveniences or error potential, always adhered to certain rules for CAM reconciliation. These tips would prove to be of real help.

Learn More About Our Lease Abstraction and Administration Services 

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