Lease abstraction
Commercial lease abstraction, versioned and auditable.
The abstract becomes the system of record. Amendments write a new version, supersede the old one, and update future billing to match.
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What belongs in a commercial lease abstract
An abstract should hold the terms that drive money and deadlines, as structured fields. A rent step generates charges. An option notice window becomes a critical date.
- Premises, suites, and rentable versus usable area
- Base rent steps and free-rent periods
- Recovery pool, share basis, base year, and cap
- Fixed, fixed-amount, or CPI escalations with floor and cap
- Percentage rent terms and breakpoints
- Renewal, termination, expansion, and ROFR options
Amendments without losing history
An amendment writes a new lease version and marks the prior one superseded. You can see the terms as of any date, and the forward billing schedule updates itself.
AI extraction that cites the lease
Upload a lease as a PDF or Word file. Vespy proposes the abstract with each field quoting the lease, and highlights the quote in the document. Nothing is saved until a person approves it.
Critical dates that outlast the person tracking them
Option windows, obligations, and certificate expirations carry an assignee and a status. Reminders go out ahead of each date, and options roll up into the rollover and option exposure report.
Lease abstraction questions
Does the AI abstraction work on commercial leases specifically?
Yes. The extraction expects commercial structure: rent steps, rates per square foot, operating expense recoveries, options, and insurance covenants. It is not a residential extractor pointed at a commercial lease.
What happens if the AI gets a field wrong?
You fix it before it is saved. Each proposed field sits beside its source quote, so review means checking a citation. Nothing reaches your lease data without a person approving it.
Can I abstract leases by hand instead?
Yes. Manual entry uses the same structured fields as the AI path, so a typed abstract and an approved one are identical to the recovery engine.
Do amendments change past billing?
No. An amendment rewrites the forward schedule and creates a new lease version. Posted charges stay as they were, which keeps the ledger and completed reconciliations intact.
Stop reconciling in a spreadsheet.
Set up a recovery pool, abstract a lease, and run a reconciliation on the free trial.
14-day free trial · No credit card