Lease Analysis
Model tenant-by-tenant rollover. TI/LC costs. Effective rent after concessions and free rent. Lease-by-lease, not in aggregate.
Your analyst opens each lease, abstracts the key terms into a spreadsheet, and builds a rollover schedule manually. TI allowances, leasing commissions, free rent periods — all calculated by hand. For a 30-tenant office building, that's two days before the real analysis starts.
Upload the lease abstracts into the Data Room. Apers reads every lease — scanned or native — abstracts key terms, maps rollover by quarter, and calculates effective rent after TI/LC and free rent. Two days becomes twenty minutes. Open the rollover model in Google Sheets and start making decisions.
Four Steps to a Complete Lease Rollover Model
Upload lease documents
Drag lease abstracts and the rent roll into the Data Room. Apers reads every lease — scanned PDFs, Word documents, native spreadsheets — extracting base rent, escalations, options, expense stops, and termination rights.
Apers builds the rollover schedule
Every tenant mapped by expiration quarter with renewal probability, downtime assumptions, TI/LC costs, and effective rent calculated net of concessions and free rent periods.
Review tenant-level assumptions
Before writing each tenant’s rollover economics, Apers shows its assumptions — market rent, renewal probability, TI allowance, commission rate. Approve or override tenant by tenant.
Open in Google Sheets
The finished rollover model saves to Google Sheets with dynamic formulas. Change a market rent assumption and watch effective rents recalculate. Download as .xlsx or save to your Library.
Every Lease, Every Clause
Base rent, escalations, free rent periods, expense stops, renewal options, termination rights, co-tenancy clauses — extracted from any format and structured automatically.
TI/LC Modeling
Tenant improvement allowances, leasing commissions, downtime assumptions — modeled at renewal and for new leases. The real cost of rollover, not a blended estimate.
What You Actually Collect
Free rent periods, concession burn-off, expense reimbursements — effective rent calculated net of everything. The number that actually hits your cash flow.
Approve Tenant by Tenant
Apers shows its assumptions for each tenant before writing a single formula — which market rents, which renewal probability, which TI benchmark. Approve or override at the lease level.
Sub-Chats for Deep Dives
Spin up a sub-chat to investigate a specific tenant’s lease economics, compare against market comps, or model a lease restructuring scenario — all with full access to the Data Room.
Models
Frequently Asked Questions
How does Apers analyze leases?
Upload lease abstracts and the rent roll into the Data Room. The UDPE engine reads every lease — scanned or native — abstracts key terms, maps rollover by quarter, and calculates effective rent after TI/LC and free rent periods. The XL-2 engine builds the rollover model in Excel.
Can Apers handle a large number of tenants?
Yes. Apers processes tenant-by-tenant data regardless of property size. For a 30-tenant office building or a 200-unit multifamily, each lease is abstracted individually and mapped into the rollover schedule.
How does Apers calculate effective rent?
Apers calculates effective rent by netting out tenant improvement allowances, leasing commissions, free rent periods, and other concessions from the face rent. Every adjustment is shown at the lease level so you can see the true cost of each tenancy.
What documents do I need for lease analysis?
Upload lease abstracts, the rent roll, and any estoppel certificates to the Data Room. The UDPE engine reads scanned PDFs, native PDFs, and Excel files. You do not need to reformat documents before uploading.
Can I model lease renewal scenarios?
Yes. Describe your renewal assumptions — probability, market rent, TI/LC costs — in chat and Apers models the rollover risk for each tenant. You can test different renewal rates and see the impact on property-level cash flow.