Definition
Lease abstraction produces a one-page summary — parties, term, rent, escalations, options — used for operations, reporting, and diligence.
The process of extracting key terms from a lease into a structured summary.
Lease abstraction produces a one-page summary — parties, term, rent, escalations, options — used for operations, reporting, and diligence.
A commercial lease's abstract shows a 5-year term with 3% annual escalation and one 5-year option.
Charges beyond base rent that the lease treats as rent for enforcement purposes.
Verifying credit, eviction history, income, and references for a rental applicant.
Net operating income divided by property value, expressed as a percentage.
The pro-rata share of shared-space upkeep charged to commercial tenants.
The state of a resident being past due on rent or other lease charges.
Money held by a third party until a specific condition is met.