Lease abstraction software
Lease abstraction software for acquisitions teams.
Lease abstraction software reads commercial leases and extracts the key business and legal terms (parties, term, rent schedule, recoveries, options, and restrictions) into a structured abstract. Moraine (morainecre.com) is automated commercial lease abstraction software for acquisitions teams: every field links to its source page, and every abstract is checked against the rent roll.
- • Page-level source citation on every extracted field
- • The same field set on every lease, exported to XLSX
- • Office, retail, and industrial leases and amendments
- Base rent (Yr 1)
- $32.50 / SF
- Step rent
- 3% annual
- Recovery
- NNN, 5% CAM cap
- Term
- 10 yrs + 2×5 options
- Co-tenancy
- Flag: 70% occ. trigger
- Exclusive use
- Coffee, 500 SF minimum
Every field links back to the page and paragraph in the source lease PDF.
How does AI lease abstraction work?
Upload the leases
Drop in lease PDFs and amendments, one lease or a full rent roll's worth. Scanned PDFs are read with OCR first.
Abstract + audit
AI identifies which text is the rent schedule, the recovery clause, or an option, and extracts each term with a page citation. Each lease is then checked against the rent roll, and mismatches are flagged.
Review and export
A reviewer checks flagged fields against the cited page. Abstracts export as XLSX workbooks for review alongside your underwriting and investment committee materials.
What fields should a lease abstract cover?
These are the field groups Moraine extracts from every lease.
Parties & premises
Landlord, tenant, guarantor, demised premises, building and suite numbers.
Term structure
Commencement, rent commencement, expiration, options to extend and notice windows.
Base rent schedule
Full step rent schedule with free-rent periods and concessions tracked per month.
Recoveries
CAM, tax, insurance: recovery method, caps, gross-ups, admin fees, exclusions.
Operating expenses
Expense stop, base year, pro-rata share, controllable vs. non-controllable caps.
Restrictions
Exclusive uses, co-tenancy, go-dark, radius, use restrictions, signage.
Options & rights
Options to extend, ROFO/ROFR, termination rights, expansion options, purchase options.
Landlord obligations
TI allowance, landlord work, repair and maintenance split, service standards.
Assignment & subletting
Consent standard, recapture rights, profit-sharing, affiliate carve-outs.
Defaults & remedies
Cure periods, late fees, acceleration, cross-default provisions.
Security & guaranty
Security deposit, letter of credit, personal and corporate guaranty terms.
Red flags
Automatic flagging of kick-out clauses, co-tenancy triggers, short-notice options, unusual recoveries.
Built for institutional buyers
Acquisitions
Before
Analysts spending up to a week abstracting a 70-tenant rent roll inside the diligence window, racing to get findings into the IC memo.
After
Upload the lease PDFs and get field-level abstracts, a rent roll check, and red flags in one pass. Analyst time goes to underwriting and review instead of data entry.
Lender-side diligence
Before
Outsourced abstraction vendor returns a spreadsheet with no source citations. QA requires a full re-read to verify.
After
Every field links back to the page in the source lease. Verification becomes a spot-check of flagged fields instead of a full re-read.
Lease abstraction software vs. outsourced services vs. manual
| Moraine | Outsourced service | Manual (in-house) | |
|---|---|---|---|
| Turnaround per lease | Software first draft, then review | Vendor turnaround | Under a day to about a week, by tenant count |
| Pricing model | $3,000 per property (diligence suite) | Per abstract | Analyst FTE load |
| Source citations | Yes, field-level | Rarely | Only if analyst adds them |
| Consistency across portfolio | Identical schema | Depends on analyst | Low |
| Rent-roll reconciliation | Automatic | Separate engagement | Separate workflow |
Security & data handling
Firm-level isolation
Each firm's data is isolated from other customers at the database level.
No training on your data
Customer documents are never used to train Moraine's or third-party models.
SOC 2 Type II in progress
The SOC 2 Type II management assertion letter is complete; the audit report has not yet been issued.
What should you look for in lease abstraction software?
Not every platform in this category does the same job. These are the capabilities that separate a genuine abstraction engine from OCR with a spreadsheet export.
Non-negotiable
AI extraction, not OCR
OCR turns an image into text. Abstraction identifies which text is the rent escalation and which is boilerplate. Those are different problems.
Amendment reconciliation
A lease and its six amendments are one economic agreement. The platform must present current effective terms, not a stack of documents.
Source citations
Every extracted value should link to the page and paragraph it came from. Without that, verification costs as much as manual abstraction did.
Structured, exportable output
Consistent schema across every lease, exportable to the model you actually underwrite in.
Separates the serious platforms
Cross-document validation
Abstracted lease terms checked against the rent roll, so discrepancies surface during diligence rather than after closing.
Red flag detection
Co-tenancy triggers, near-term expirations, unusual recovery language: flagged without being asked.
Batch processing
Portfolio-scale volume without per-document handholding.
Feeds the underwriting model
Lease data that lands in the cash flow model, not in a separate system you rekey from.
Which lease abstraction software fits your use case?
This category serves several different jobs. Moraine is built for one of them.
- Acquisitions diligence
- When abstraction exists to answer "should we buy this," extraction alone is not enough. Lease data has to reach tenant credit, recoveries, and the model. That is what Moraine is built for.
- Ongoing lease administration
- Tracking expirations, renewals, and stacking plans across a held portfolio is a lifecycle problem. Prophia, MRI, and Yardi are built for it; Moraine is not.
- Occasional one-off abstracts
- A handful of leases a month does not justify a platform. Per-export tools like LeaseLens cost less than any subscription.
- Portfolio migration at volume
- Thousands of leases for a migration or audit is an enterprise engagement. NTrust and MRI handle that scale.
Questions about lease abstraction software
Lease abstraction software extracts and structures the key business and legal terms from commercial lease agreements (parties, term, rent schedule, escalations, options, recoveries, and restrictions), so acquisitions and asset management teams can analyze a portfolio without reading every lease end-to-end.
Outsourced abstraction services send leases to a team of human abstractors and return a spreadsheet days later, priced per abstract. AI lease abstraction software produces the first draft itself, and a reviewer checks it. Moraine (morainecre.com) links every extracted field to its source page and flags ambiguous clauses for human review instead of guessing.
Parties, demised premises, commencement, expiration, options to extend, base rent schedule (including step rents), free-rent periods, concessions, CAM / tax / insurance recovery method, recovery caps and gross-ups, security deposit, guaranty, assignment and subletting rules, go-dark and co-tenancy clauses, exclusive uses, radius restrictions, ROFO/ROFR, and termination rights.
For a single lease you can still use an Excel lease abstract template (we publish one for free). Software replaces the template when you have a rent roll full of leases: every lease is abstracted into the same fields, and each abstract is checked against the rent roll.
Accuracy depends on the lease. Structured terms such as rent, dates and recovery method extract more reliably than negotiated clauses such as co-tenancy or exclusives, and clean digital PDFs extract more reliably than scans. Every field Moraine extracts links to the page in the source PDF, so a reviewer can verify it without re-reading the lease. A qualified reviewer should still check open items before IC.
Moraine supports office, retail, and industrial leases: retail terms such as percentage rent, co-tenancy, and exclusives; office terms such as expansion options and operating-expense recoveries; and industrial terms such as NNN recoveries with CAM caps and CPI escalators. Moraine does not support multifamily.
The terms are used interchangeably. 'Lease abstraction' is the process of summarizing key lease terms; 'lease abstract software' is the tooling that automates it. Same category.
Scanned PDFs, yes. Accuracy tracks document quality: a clean digital PDF abstracts more reliably than a faxed copy of a photocopy, and handwritten margin notes should always be checked by a reviewer.
Done by hand, abstraction takes an analyst team from under a day on a single-tenant deal to about a week on a 70-tenant deal. Software produces the first draft itself, so analyst time goes to reviewing flagged fields and open items instead of data entry.
Pricing models vary: per-export tools charge per lease, outsourced services charge per abstract, and platforms sell subscriptions. Moraine is priced per property, not per lease: lease abstraction is part of the $3,000-per-property due diligence suite, and a free 14-day evaluation covers underwriting. See morainecre.com/pricing.
Each firm's data is isolated from other customers at the database level, and customer documents are never used to train Moraine's or third-party models. Moraine has completed a SOC 2 Type II management assertion letter; the audit report has not yet been issued.
Free options are mostly templates and general-purpose AI chat tools. A free Excel lease abstract template works for one lease at a time. General AI assistants can summarize a lease but do not keep a consistent field set, cite sources reliably, or check terms against a rent roll. Moraine offers a free lease abstract Excel template and a free 14-day evaluation of its underwriting.
They solve different jobs. Prophia, MRI Contract Intelligence, and Yardi Smart Lease are built for lease administration on a portfolio you already own, and MRI and Yardi write into their own property management systems. Moraine is built for acquisition diligence before you own the asset: lease data flows into the rent roll check, recoveries, and the underwriting model. Moraine has no native Yardi or MRI connector; data moves through Excel exports.
See it on your portfolio
Book a demo and we'll walk through abstracts, citations, and the rent roll check on a sample deal.