Lease abstraction software that keeps every date, option and clause tied to the page it came from
Lease abstraction is the work of reading an executed lease and its amendments and turning them into structured fields: commencement, expiry, rent steps, options, notice windows, operating expense treatment and every restriction that matters later. The dates are not decorative. Federal lease accounting under SFFAS 54 builds the lease term from the noncancelable period plus every option a party is probably going to exercise, which means the abstraction decides the number. Neurobird holds the clause, the field it produced and the page it came from on one record.
Neurobird Lease Abstraction in short
- Abstract to fields that keep a link back to the clause and the page underneath them
- Apply amendments in order, so a restated clause replaces the original rather than sitting beside it
- Run notice windows forward from options, not backward from a deadline someone remembered
- 24 months Ceiling for a short term lease in federal standards, which changes how the lease is recognised and makes the abstracted term a decision rather than a copy. FASAB SFFAS 54
- $1,500,000 Average annual rental above which a federal lease needs a congressional prospectus, which is a threshold read straight out of the abstracted rent schedule. 40 USC 3307
- Pricing runs 199 to 1600 US dollars per month across 3 tiers. Early access is free.
What real estate and lease accounting teams actually deal with
Why it stays broken
An abstract is a translation, and translations lose their source. The lease is a scanned PDF, the abstract is a spreadsheet row, and the accounting system holds a third version with none of the language behind it. Because the standards build the lease term out of judgement, not just from the stated dates, the reasoning behind a field matters as much as the field. That reasoning is exactly what a spreadsheet cell cannot hold, so the next person redoes the work.
Under SFFAS 54 the lease term is the noncancelable period plus any option period a party is probably going to exercise, so the abstraction decides the number the accounts report.
A short-term lease is a non-intragovernmental lease with a lease term (as defined in paragraphs 14-21) of 24 months or less.
Neurobird Lease Abstraction Document Automation Platform
One record per lease: every abstracted field with the clause and page it came from, every amendment applied in order, and every date that needs a notice before it arrives.
- 1Abstract to fields that keep a link back to the clause and the page underneath them
- 2Apply amendments in order, so a restated clause replaces the original rather than sitting beside it
- 3Run notice windows forward from options, not backward from a deadline someone remembered
- 4Show two abstractors the same lease and reconcile where they disagree, at the clause
What changes with Neurobird Lease Abstraction?
The same work, read left to right: how it runs today, and how it runs once the record is in one place.
| Today | With Neurobird Lease Abstraction |
|---|---|
| An option notice window closes because the date lived in a summary nobody reopened | Abstract to fields that keep a link back to the clause and the page underneath them |
| Two abstracts of the same lease disagree and neither one says which page it read | Apply amendments in order, so a restated clause replaces the original rather than sitting beside it |
| An amendment restates a clause and the abstract still carries the original wording | Run notice windows forward from options, not backward from a deadline someone remembered |
Who is this for?
The same executed lease, three different readers.
You hold leases across many sites
Dozens of documents, each with its own option language. You need the notice window to arrive before the option does, with the clause attached.
You feed the accounting system
Term, payments and classification start with your abstract. You need the judgement behind a lease term to be visible, not folded into a cell.
You abstract to underwrite
Rent roll, restrictions and recovery treatment across a portfolio. You need to know which abstract read the amendment and which one did not.
How does Neurobird Lease Abstraction work?
Read once, cite always
Each field carries the clause and the page that produced it, so a later question is answered from the lease rather than from the summary of it.
Amend in sequence
Amendments apply in order and restated language replaces what it supersedes, so the current position is one answer rather than a stack of documents.
Watch the dates
Options, notice windows and rent steps become dated obligations with an owner, so the expensive dates surface while there is still time to act on them.
The abstract, as your team would build it
Open a field to see the clause and the page it came from, then apply the amendment on top.
Watch the fields extract from the document.
What the rules say about lease terms and lease data
Federal lease accounting definitions, the statutory thresholds that decide who approves a lease, and the disclosure duties attached to a government tenancy.
Ceiling for a short term lease in federal standards, which changes how the lease is recognised and makes the abstracted term a decision rather than a copy.
FASAB SFFAS 54Average annual rental above which a federal lease needs a congressional prospectus, which is a threshold read straight out of the abstracted rent schedule.
40 USC 3307Cost of altering leased space above which the same prospectus requirement applies, separately from the rent itself.
40 USC 3307Types of space a federal agency may acquire under a categorical delegation, from hangars to laundries, with armed forces recruiting space capped at 5 years including all options.
41 CFR 102-73.155The Public Law behind the Secure Federal LEASEs Act, which put ownership disclosure duties onto lessors of federal space and gave abstraction another field to carry.
41 CFR 102-73.310Federal workers GSA says it provides workspace for, across owned and leased buildings, land and antenna sites, which is the scale one lease register has to hold.
GSA leasing overviewLease abstraction software questions, answered
Key terms
- What is lease abstraction?
- It is reading an executed lease and its amendments and converting them into structured fields: dates, rent steps, options, notice windows, recovery treatment and restrictions. The point of the abstract is to answer later questions without reopening the document, which only works if each field can still point at the clause behind it.
- What are the fields that cause the most trouble?
- Anything built from judgement rather than copied. Lease term is the clearest case: SFFAS 54 builds it from the noncancelable period plus option periods a party is probably going to exercise, so two careful abstractors can produce two different terms from the same lease unless the reasoning is recorded.
Does this replace our lease accounting system?
No. It sits beside it. The accounting system holds the schedules and the postings. This holds the abstraction itself: the clause, the field it produced, the amendment history and who reviewed it.
How does it handle amendments?
They apply in order. A restated clause replaces what it supersedes rather than sitting next to it, so the current position is a single answer and the history is still there to look at.
Can two people abstract the same lease?
Yes, and that is often the point. Where the two disagree, the difference is shown at the clause rather than at the summary, which is where a reconciliation can actually be settled.
Why we are building this
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Where the requirement comes from
Primary sources, straight from the regulators.
- FASAB SFFAS 54, leases How lease term is built from the noncancelable period and probable options, and where short term leases stop.
- 40 USC 3307, congressional approval of proposed projects The rent and alteration thresholds that turn a lease into a prospectus, and what the prospectus must say.
- 41 CFR 102-73.35, when a prospectus is required How the threshold is applied and why it is republished for each fiscal year.
- 41 CFR 102-73.155, categorical space delegations The 16 space types an agency may lease directly, including the five year cap on recruiting space.
- 41 CFR 102-73.310, Secure Federal LEASEs Act authorities Public Law 116-276, 134 Stat. 3362, behind lessor ownership disclosure, a field most abstracts did not carry.
- GSA leasing overview How the largest public tenant in the country describes its own lease inventory and publishes it monthly.
How much does Neurobird Lease Abstraction cost?
Priced per portfolio because the field library and the review standard belong to the team, not to the document. Leases, amendments, fields and citations are unlimited above the entry tier.
- Up to 50 leases
- Clause level citations
- Amendment sequencing
- Date and option alerts
- Unlimited leases
- Reviewer workflow
- Field level audit trail
- Accounting export
- Multiple entities
- Abstractor reconciliation
- Custom field libraries
- Priority support
Get free early access
Early access means we load your field library and your review standard before you type anything, and the account stays free while we do it.
Straight answer on where this is: The software is in development. Nothing is purchasable today. Early access means you shape it and pay nothing while we build.
Prefer email? Write to office@neurobird.com and a person will reply. No autoresponder.