iLease Management Leads in Lease Abstraction Services for Accurate, Cost-Effective, and Timely Lease Compliance

Expert lease abstraction by iLease Management ensures accuracy, timeliness, and affordability for ASC 842 compliance and portfolio oversight.

BEVERLY, MA, UNITED STATES, September 16, 2025 /EINPresswire.com/ -- Lease Management LLC (“iLease”), a leader in lease management and accounting solutions, today reaffirmed its expertise as a trusted provider of Lease Abstraction Services. By combining professional expertise with proven processes and technology, iLease enables organizations to manage complex lease portfolios with accuracy, timeliness, and cost-effectiveness—while supporting compliance with ASC 842 lease accounting standards.

With decades of combined experience in lease management, accounting, and technology, iLease Management understands the growing need for companies to extract, summarize, and organize key lease data. Across various industries, including real estate, construction, healthcare, transportation, and nonprofits, businesses face pressure to ensure compliance, enhance financial visibility, and mitigate risk.

Why Lease Abstraction Matters
Lease agreements are often dense, filled with legal and financial obligations that can impact business operations. Lease abstraction condenses critical information into clear summaries that stakeholders can quickly reference. A lease abstract highlights essential financial terms (rent amounts, escalations, deposits), operational responsibilities (maintenance, insurance), legal clauses (renewal rights, termination options), and compliance requirements. Abstracts also capture critical dates such as commencements, expirations, and renewals.

“Lease abstraction saves time, reduces administrative costs, and ensures no critical obligations are overlooked,” said John Meedzan, Managing Partner of iLease Management LLC. “Our services give clients a clear view of their lease data, helping them make timely, informed decisions while maintaining ASC 842 compliance.”

By summarizing lease data into actionable insights, iLease helps organizations streamline operations, prevent costly mistakes, and improve compliance.

Serving Multiple Roles Across the Industry
Lease abstraction supports diverse stakeholders, including:
• Property Managers – Track obligations and maintain compliance.
• Investors and Portfolio Managers – Evaluate acquisitions and performance.
• Financial Analysts and Accountants – Ensure reliable data for reporting under ASC 842.
• Legal Professionals – Access critical terms quickly.
• Corporate Real Estate Executives – Use abstracts for planning and oversight.
• Leasing Agents – Facilitate negotiations and renewals.
• Auditors – Verify financial accuracy and compliance.

“Our lease abstraction services are designed to meet the needs of everyone who touches a lease, from property managers to CFOs,” Meedzan said. “We deliver clarity and accuracy that enable confident, data-driven decisions.”

iLease Management’s Proven Four-Step Process
iLease Management ensures consistency, timeliness, and precision through its 4-Step Lease Abstraction Process:
1. Requirements Definition – Define scope, data points, formats, and timelines.
2. Document Review & Data Gathering – Collect and review leases, rent rolls, and supporting documents.
3. Data Abstraction & Quality Assurance – Extract and verify key terms with plain-language clarity.
4. Integration & Delivery – Deliver abstracts in client-preferred formats or integrate directly into iLeasePro.

“Timeliness and precision are core to our approach,” said Meedzan. “We deliver projects on schedule, within budget, and in the format that best supports each client’s workflow.”

Cost-Effective, Timely, and Scalable
iLease’s Lease Abstraction Services are affordable and scalable for organizations of all sizes. From small portfolios of equipment leases to hundreds of commercial contracts, iLease tailors each project to the client's needs.

“Our Lease Abstraction Services provide a cost-effective way to simplify complex lease portfolios,” Meedzan said. “We help clients gain control, reduce risk, and save both time and money.”

A client testimonial reflects this balance of affordability and timeliness:
“We had a short due diligence period, and iLease Management was able to provide timely, precise abstracts well ahead of schedule. The templates were easy to read and exactly what we needed.” – Jeffrey J. Wolfe, Partner, Sachs Sax Caplan, P.L.

Supporting Compliance and ASC 842 Lease Accounting
The adoption of ASC 842 standards has made lease abstraction more critical than ever. Organizations must now account for most leases on balance sheets, requiring accurate data to generate journal entries, calculate right-of-use assets, and track liabilities.

“Abstracting key lease data is not just about convenience—it’s about compliance,” Meedzan emphasized. “Our expertise ensures clients meet ASC 842 requirements while avoiding costly errors or missed deadlines.”

By combining abstraction with iLeasePro, iLease delivers a seamless solution for both lease management and accounting.

Leveraging Technology Through iLeasePro
Abstracted data integrates directly into iLeasePro, iLease’s cloud-based lease management and accounting platform, providing:
• Centralized Access – Secure storage of all lease terms and financial details.
• Automated Alerts – Notifications for renewals, expirations, and compliance deadlines.
• Financial Accuracy – Amortization schedules, ROU calculations, and compliant journal entries.
• Audit Readiness – SOC 1 Type 2-certified controls ensuring trusted data integrity.

“With iLeasePro, clients gain more than just summaries—they gain a complete lease management solution that enhances transparency, improves oversight, and supports growth,” Meedzan said.

Empowering Companies with Insightful Lease Management
The combination of lease abstraction expertise and iLeasePro technology empowers organizations to reduce administrative work, optimize cash flow, and make informed decisions. By ensuring visibility into lease portfolios, iLease helps companies maintain compliance, avoid costly errors, and stay audit-ready.
“Lease abstraction is the foundation of lease portfolio excellence,” Meedzan concluded. “When combined with iLeasePro, it creates a powerful solution that gives our clients control, compliance, and confidence.”

About iLease Management LLC
iLease Management LLC is a leader in lease management and lease accounting solutions, helping organizations simplify complex lease portfolios with clarity and compliance. Through its flagship software iLeasePro and expert Lease Abstraction Services, iLease delivers accurate, timely, and cost-effective solutions that support ASC 842 compliance, financial transparency, and operational efficiency.

John Meedzan
iLease Management LLC
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