Lease Abstraction Helps Avoid Landlord-Tenant Dispute

There are several instances when this tension between the landlord and tenant arises due to erroneous or not well drafted lease documents. Commonly, the tenants express shock or discomfort over the amount of rent and rent escalations that they are supposed to pay to the landlord. The landlord on the flip side is taken aback by tenant’s discomfort regarding these charges. From a landlord’s perspective he/she is doing nothing except demanding charge against the leased out real estate.

Oftentimes, oral negotiations are not clearly expressed and documented in the final lease document, making it completely unworkable for either or both the parties. Consequently, there are clauses inviting conflicting interpretations by both landlords and tenants. In order to avoid these disputes, it is absolutely worth reviewing all the key lease abstracts.

The key information outlined in a lease document indicates all sorts of rights and obligations levied upon and agreed by both the parties. Lease amount, possession details, renewal rights, escalation clauses, right to reduce rent if certain conditions are met, rights to lease termination, pricing of after-hours electric, parking rights & pricing etc. are some of the common lease terms / abstracts, vital for hassle-free association between both the parties.

Furthermore, these lease abstracts are specifically useful in analyzing property value before making purchase and are commonly used by finance companies to evaluate the value thence income produced by the property before making an offer of funding. Responsive lenders / owners of real estate property not only recognize and understand the value of these documents but also prepare them in advance for painless due diligence, property value estimation or management of any sort of dispute that may arrive.

Lease abstraction is furthermore extremely vital for due diligence for a multi-tenant commercial property. Since lease terms vary drastically in case of multi-tenant commercial leases, it impacts both the quantity and quality of rental income. This is why we recommend that each lease document is abstracted carefully to highlight key lease elements / clauses as these modifications substantially impact cash flow and the value of the property.

Lease abstraction is a tedious and time consuming process, since each lease is often 30 to 100 page document with several key fields/information hidden between complicated points & paragraphs. We also carry out rental calculations and Operating Expenses Share. With our extensive experience in litigation consulting and process outsourcing services, we have been providing clients with abstraction services for Real Estate Leases, Insurance Agreements, Procurement Agreements, License Agreements, Purchase & Sale Agreements, Consultancy Agreements, Judgment Abstracts, Case Law Abstracts, Class Action Summaries, Statement of Witnesses etc. In comprehensive litigation consulting and process outsourcing services, we have been helping legal community and international corporations concentrate on strategic legal challenges and streamline their operations.

Legal Process Outsourcing

SunLexis, the legal process outsourcing company based in India, New Delhi, has been providing comprehensive litigation support and legal outsourcing services to law firms and international corporations.

OUR PEOPLE

SunLexis team consists well-qualified lawyers, SMEs, Coders and Document Specialists. They possess highest degrees in law and are well-conversant with the technicalities of multiple jurisdictions – be it UK, US based Common Law System or Civil Law System prevalent in most Western European Countries.
Our seasoned team of senior attorneys, litigation support staff and IT professionals provide high-quality consulting and paralegal support to all sized law firms and corporations. They have extensive database of Forms / Precedents at their disposal which are tailored to meet client requirements precisely.
Our lawyers keep themselves updated with the latest developments in the legal world. This ensures that they are on track from the very first step and deliver work that meets clients’ requirements precisely.

INFRASTRUCTURE & TECHNOLOGY

We combine our subject matter expertise with the best breed of technology to ensure a prolific outsourcing experience. Complying with the international standards, we are equipped with advanced technologies, equipments and processes. With:

• Total carpeted area of 20,000 sq feet
• 350 work stations with latest Intel processors
• EPABX, VoIP and Conferencing bridges for speedy communication
• High speed – high resolution scanners
• Round the clock power back up and supply

Why outsource Litigation Support Services to SunLexis?

At SunLexis, we realize that we are an extension of your business; therefore we put meticulous efforts in providing productive solutions. We have designed our processes to achieve measurable performance at each stage.

• Extensive Knowledge in the Domain
Our Solicitors & SMEs bring along in-depth knowledge in the legal domain and deliver most efficient services that meet the clients’ objectives.

• State-of-the-Art Technology
SunLexis is supported by automated, state-of-the-art technologies for speedy work in progress. Our systems enable us to capture our clients’ information, requests with multiple levels of prioritization to streamline the quickest possible completion of service request.

• Wide Range of Services
Our services can be tailored to meet the specific requirement of each client. We offer a wide range of legal services such as paralegal services, litigation support, intellectual property services, case digest preparation and many more legal administrative services.

Advantage of Economy to Scale
SunLexis offers advantage of cost-effectiveness by delivering qualitative services at extremely low price.

• Time Zone Advantage
Due to the difference in time zone between most western countries and India, our clients have their work delivered the next day they come to office.

• Complete Data Security
International standards of data privacy followed including Encrypted information transfer.