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Financial Lease Abstracts

Lease abstraction is the key to financial and legal information for an immediate access to important data from the lease and also to ensure that no financial obligations or relevant deadlines are missed.

 

Financial lease is a method used by a business for acquisition of assets with payment structured over time. The lessor receives lease payments for covering the ownership cost of the equipment. The responsibility of paying the maintenance, taxes and insurance is on the lessor. As hourly rates of lease professionals have risen over the years, so have the myriad of conditions, paragraphs of legal jargon and number of unintelligible references to clauses have increased in financial leases. Financial lease abstraction involves analysing and capturing the critical financial data of a lease’s essential business and legal terms including rent, taxes etc.

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Key Financial Lease Abstraction clauses

Key Financial Lease Abstraction clauses

Additional rental fees

1. Taxes

2. Repair and maintenance

3. Operating expenses

4. Insurance

5. Repayment

6. HVAC Charges

7. Electricity and Water charges

8. Charges (customs, transport, clearance charges, re-delivery), if any

9. Common area charges payable by the Tenant to Landlord along with the Escalation Provisions

10. Charges for Repairs and Replacements that are T’s obligations.

11. Tenant’s improvement allowances

12. Other financial clauses which are lease specific

Why Outsource Financial Lease Abstraction Projects to SKJ Juris ?

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Financial lease abstraction carried out by SKJ Juris, contains a summary of all the critical financial information as well as other important legal data such as date of commencement, description of the asset, term of the lease, subletting options, the rental amount, provisions of holdover, cost schedules, key events, terms and conditions, landlord and tenant obligations, etc. Our team helps finance corporations to remain updated with information on payments, charges, taxes, etc.. We make the important financial information available at the client’s fingertips resulting in saving precious working hours on calculations and in determining/ ascertaining the amounts due to be paid/ received.

Our financial lease abstract professionals are well versed in financial lease abstraction interfaces. Our team has the expertise to perform financial lease abstraction into virtually any desired format, including direct input into accounting software or Microsoft Excel/Word. We can directly update the abstracted financial clauses of the leases onto the client’s custom interface depending on the clients’ requirement. We have successfully worked on various lease abstracts with different client’s financial specifications.

Competitive edge

We continually strive to stay updated about the new market trends in lease abstraction services including financial lease abstraction. Because of the changes that may occur in lease accounting standards, organizations are under the gun to collect and report on a great deal of lease data. Pulling out the financial data points and the need to do the calculations could be an arduous task for busy administrators trying to juggle multiple tasks.

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We promise-we deliver

It is our aim to process the financial lease abstraction in a manner that it serves as a road map to help navigate the lease document and provide contract specific details on financial lease data.. Our team oversees and ensures that the billing and all other financial transactions are being summarised accurately along with the crucial dates so that it would help informing necessary personnel of any missing or late payments.

To implement solutions in streamlining the financial lease abstraction and improving the overall productivity of your organisation, contact us today!

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