When was the last time you built a puzzle? It may have been a rainy day or a long vacation, but no matter the occasion, we all start off the same – you open the box and dump the pieces out on the table. From there, we all employ our own building strategy. Some start with the corner pieces and build the frame, while others take the time to sort out all of the pieces by color or pattern.
Lease abstracting is a lot like a puzzle. You start out with all the pieces – terms, rent schedules, options amendments and assignments – and get to work piecing together the final pretty picture, an organized portfolio. Just like building a puzzle, everyone has their own approach or strategy to abstracting, because leases come in all shapes and sizes, and sometimes show up with a missing piece.
No matter if you’re just learning how to abstract or are a seasoned expert, we wanted to share some of our favorite tips and tricks to get that “picture perfect” lease abstract.