Why Lease Abstraction Services are Not a Replacement for Lease Management Software

 May 6, 2020

On a daily basis, we often face situations that require a little bit of flexibility.  If I’m in a pinch and don’t have eggs when I’m baking, I can turn to unsweetened applesauce. The restaurant I’m dining at doesn’t have Coke? Sure, I’ll take a Pepsi. These replacements aren’t going to be exactly what I need or want, but they’re close enough and will get the job done.

Some things, however, aren’t interchangeable. A great example of this is lease abstracting services and lease management software. In this case, one shouldn’t replace the other. Software alone isn’t an effective solution. Services alone aren’t an effective solution. The two have to work together in order to create effective lease management.

How the two work together

No matter what, abstracting is always one of the first and most essential steps of effective lease management. It’s the best way to maintain a current master lease list and ensure you stay on top of obligations,dates, and opportunities. Thus, lease abstraction services are necessary.

But what do you do with all the data? You organize it in a system that communicates with you and provides the big picture view you need to forecast and make reliable decisions. Spreadsheets are a good tool for organizing and storing data, but lease management software like Quarem is the ideal destination for your abstracted leases.

Lease management software allows you to take your static lease documents and transform them into digital profiles. So, all of your abstracted data turns into renewal option reminders, income/expense schedules that reflect all future rent increases, dashboards, tasks, reports, and so much more.

Software & Services Under One Roof

Lease abstraction services are not a replacement for anything. They’re an important part of the entire lease management process.Luckily, you don’t have to split your time between software and service providers. Quarem combines expert lease abstracting services and sophisticated lease management software under one roof.

We believe that best lease management strategy comes from technology and people working together. All components that make up Quarem –technology, client services, abstracting, leadership – all operate under the same roof at our headquarters in Houston, TX. That means you’ll work with people that are dedicated to knowing the ins and outs of your leases.

To learn more about our lease abstracting services, schedule a live demo of the software or give us a call today.

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About the author 

Meredith Beasley

Meredith Beasley serves as the VP of Marketing & Communications for Quarem. She is responsible for developing and implementing Quarem’s global branding strategy and works with both digital and traditional forms of media to better establish the Quarem brand.

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