A large property owner made use of our Lease Abstraction services to migrate the leases into the ProLease Database

About the client

The customer is a large property owner who has leased their commercial properties across 3 different states. All the property and Lease specific data are stored in the ProLease database.


Client requirement
  • They had around 2000 leases in English that had to be abstracted in a very short span of time.
  • Since the volume of data involved was high, considering the time constraints delivering quality and accurate data was a challenge for the real estate giant.
Solution
  • Utilizing our leasing services the leases were abstracted and thorough quality check was done before migrating the leases into the Pro Lease Database.
  • The data was abstracted using the Leverton MRI Contract Intelligence (AI) Tool of MRI Software since we were dealing with voluminous leasing data.
  • The ProLease data fields were completely different from the MCI data fields, which was a great challenge. Once the abstraction and quality check was completed in MCI, we simultaneously started migration of data into the ProLease database.
  • Owing to our expertise in Leverton and ProLease we completed the task within the short deadline given by the Client.
Benefits
  • Lease abstraction was completed in 1/3rd of the time taken by the existing process that was in place.
  • The customer was able to save on up to 52% of their investment costs by migrating the leasing data into ProLease.
  • Improved the overall process and the efficiency of the resources up to 62% with the migration of data being done  using the MCI AI Tool.