Frequently Asked Questions

What is lease abstraction?

Lease abstraction condenses a lease into a clear summary of its key terms — rent, dates, options, and obligations — so you can access the information that matters most.

Why do property owners need it?

Because missed dates and overlooked clauses cost money. Abstraction ensures no escalation, renewal, or obligation is missed, helping owners protect income and make confident decisions.

How is PRECISION ABSTRACT different?

With more than 15 years in property management and brokerage, we know the real cost of a missed renewal or rent increase. That is why we highlight risks, track escalations, and provide proactive reminders faster and more reliably than larger firms.

Do I need special software?

No. We work within Excel, Word, PDFs, or your existing systems so there is no new subscription or training required. For clients who want a full software platform, we recommend RAAMP. It is a modern alternative to Yardi and MRI that combines lease management, accounting, and CRM in one system. We partner with RAAMP because it is cutting-edge, easy to use, and built for owners and managers who want more than legacy software.

How quickly can you deliver?

Turnaround times vary by project size, but we’re built for speed. You’ll get a clear delivery timeline upfront, and most single abstracts are completed within days, not weeks.