Bridging the gap between standards and practice in global lease data abstraction

Abstract

Lease abstraction and extraction are becoming increasingly complex, while demands are rising for better data quality for portfolios of leases in multiple countries or asset types. Several organisations, including OSCRE, have been building data standards for lease abstraction over the past years in a bid to address the emerging needs of the industry. These organisations have been at the forefront of development and implementation of real estate information exchange standards, including those for commercial real estate. This paper looks at the future of data standards for lease abstraction and trends driving the industry towards a standard data model, its advantages and the challenges that hinder lease abstraction standardisation, and how standard data models can support new and emerging use cases.