Lease Administration

For real estate and site selection teams

Every negotiated term, carried from LOI to signature.

REAL tracks every deal from the moment a letter of intent goes out, through committee approval and lease negotiation, and catches the terms that get lost, changed, or forgotten along the way.

Why it matters

An AI deal expert that holds every LOI to the same standard as the lease it becomes, so nothing your team negotiated upfront gets lost by the time a lease is signed.

Business terms get diluted between LOI and execution. REAL holds every negotiated term — rent, free rent, TI, options, exclusives — and surfaces any deviation the moment a draft lease arrives.

1.2B sq ft

analyzed across enterprise portfolios

8M+

tasks processed across enterprise portfolios

14%

average cost reduction across portfolio

01

Every deal tracked from LOI to execution, in one pipeline.

REAL tracks every deal your team is working, from the moment a broker surfaces a site through committee approval, lease negotiation, and signature, so nothing sits unresolved in someone's inbox.

Deal pipeline

Active LOIs

34

In committee review

12

In lease negotiation

8

Nearing execution

3

All deals in one view

02

Every LOI term compared against the final lease, automatically.

The terms your team negotiated in the LOI don't always survive to the lease. REAL compares the two documents line by line and flags anything that changed, dropped, or shifted, before signature.

Term comparison · LOI vs. draft lease

TermStatus

Rent

Matches

TI allowance

LOI $220K, draft $190K

Flagged

Exclusivity

Dropped in draft

Flagged

Term length

Matches
03

Committee-ready packages, without building them by hand.

REAL assembles site financials, market context, and negotiated terms into a committee-ready package automatically, so approval doesn't wait on someone building slides.

Real estate committee package

Site financials

Ready

Market comps

Ready

LOI terms

Ready

Auto-assembled, no manual build

04

Redlines tracked, not lost in email threads.

Every round of redlines is tracked against the original LOI, so your team can see exactly what changed and when, instead of reconstructing it from an email chain.

Redline history

v1 landlord draft → v4 executed

Negotiation rounds

6 rounds

TI allowance escalation added

v3

Final executed

v4
05

The moment a lease executes, it's already abstracted.

When a deal closes, REAL carries the negotiated terms straight into lease abstraction. No re-entry, no gap between signature and the lease being live and queryable in the system.

Lease executed

Auto-handoff to Lease Administration

Complete

Abstraction complete

Day 0

Days to live in system

0

No manual re-entry required

Go deeper

Purpose-built for every part of the workflow.

The REAL Suite

One agent is powerful. A suite compounds across your portfolio.

Each REAL agent is an expert in its domain, built to share context and act on what the others know. The more agents work in your portfolio, the more complete each one’s view of it becomes, and the stronger every decision your team makes.

Lease Administration

Frequently asked questions

  • Most CAM leakage hides in a few repeatable places: capital expenditures billed into the operating CAM pool, management fees above contractual caps, an incorrect pro-rata share after a GLA change, base year items that should be excluded, and anchor costs allocated to inline tenants. The work is checking each reconciliation against the specific lease terms, exclusions, and caps. REAL runs that check against every lease, flags disallowed charges and cap breaches with the clause attached, and prepares the recovery letter the moment one shows up.

  • Missed dates come from tracking obligations in spreadsheets that nobody owns end to end. The fix is to extract every critical date from the lease itself and watch it against the calendar continuously. REAL abstracts the dates and terms, tracks them across the portfolio, and alerts your team before a renewal, option, or break clause window closes.

  • Most TIA dollars expire unclaimed because the proof is assembled too late. The answer is to track what each lease still owes you and package the evidence as you spend, not after the deadline. REAL tracks remaining allowance per lease, packages the supporting invoices as costs are incurred, and prepares the claim before the submission window runs out.

  • By tracking each obligation against the lease clause that creates it and acting the moment one slips. A missed build-out delivery can trigger rent abatement, a co-tenancy failure can trigger a remedy, a repair on the landlord’s account should never be paid by the tenant. REAL holds every obligation against the lease and triggers the right at the moment it applies, so what you are owed is recovered instead of absorbed.

  • Abstraction is the bottleneck because reading every lease by hand does not scale across hundreds of locations. REAL extracts the dates, financial terms, clauses, and rights from each lease and maps them into a structured record, with every field linked back to the page it came from so your team verifies rather than re-reads.

  • The fields that drive money and risk: critical dates, renewal and termination options, rent steps and escalations, CAM and pass-through terms, co-tenancy and kickout clauses, use and exclusive restrictions, insurance requirements, and landlord work-letter and tenant improvement allowance references. REAL pulls each of these into a structured record with every field linked back to the clause it came from, so the abstract is verifiable rather than just a summary.

  • Manual abstraction is slow and hard to scale, and a generic tool reads a lease with no sense of what matters in one. REAL is grounded in your own lease data and built on real estate domain context, so it tells a kickout clause from a co-tenancy trigger, maps the output into the formats your lease-admin and finance teams already use, links every field to its source, and routes conflicts and uncertainties to a person rather than guessing.

  • REAL gives you one place to ask. Your systems of record stay the source of record, and REAL reads across them, the leases, and the plans, so any question about any location gets one sourced answer. You get the single view teams ask for, without maintaining a second database.

  • REAL handles the documents a real portfolio actually contains: NNN, gross, and modified-gross leases, along with letters of intent, amendments, and work letters, across multi-location portfolios. Scanned, redlined, and inconsistent formats are the expected case, not the exception.

  • Yes. The point of abstraction is to remove manual re-keying, so the output comes out structured: Excel tables, PDF reports, JSON data, and system-import formats that line up with your lease-administration and project tools. The abstract goes back into the systems your team already works in.

  • Risk review reads for non-standard language in the sections that carry the most exposure: termination, default, force majeure, assignment, and liability. REAL flags where a lease deviates from standard, prioritizes the high-impact deviations, and attaches a citation to each, so legal and lease-admin time goes to the clauses that actually matter.

Don't let what you negotiated get lost between the LOI and the lease.

See REAL compare an LOI against a lease and surface every term that shifted along the way.

  • Every deal tracked
  • Every term compared
  • Every lease live the day it's signed

LOI to Lease

Frequently asked questions

  • Site Selection helps evaluate where to expand. LOI to Lease picks up once a site is chosen and tracks the deal itself, from LOI through committee approval to signature.

  • Yes. REAL compares the executed lease against the original LOI and flags any term that was dropped, changed, or negotiated differently along the way.

  • REAL hands the deal straight into lease abstraction, so the lease is live and queryable the same day it's signed, with no manual re-entry.

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