LeaseLens is a free AI-based lease abstraction software that uses machine learning to extract relevant data points from real estate or commercial lease documents. Rather than manually extracting data, LeaseLens saves time and money by automating the process, producing an abstract in minutes compared to hours or days with traditional methods. The machine learning model has been trained on thousands of lease agreements to provide accurate data points such as title, critical dates, renewal options, and square footage. Users can upload their lease and view their abstracted provisions for free, and can export the results to Excel or Word for $25. LeaseLens can be used for real estate lease abstraction in property management and commercial lease abstraction for equipment leasing. The website explicitly states that they do not share user data with third parties and leases are deleted after they have been abstracted. According to LeaseLens, more than 50% of AmLaw 100 firms use their technology. The site offers an FAQ section where users can find more information on the types of leases that can be abstracted, the benefits of AI in CRE lease abstraction, and how LeaseLens works. However, the site currently only allows for one lease to be abstracted at a time, though they are looking to build multiple lease abstraction.
