No matter the size of the portfolio, the one common misconception is that lease abstraction is an easy task. This is not true. Abstracting a lease portfolio can vary in complexity and duration depending on the size and requirements of the project. Summarizing paragraphs of information from the lease to accurately communicate the critical points to the reader is in fact very difficult. Aside from the critical information, what is important to one company may not necessarily be important to another. However, when used as a tool, the abstract adds value to a company’s informational arsenal by giving it the ability to analyze, compare, and report key information across its portfolio. The following are five common pitfalls that a company can expect to face when embarking on a lease abstract project.

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