AI reads a signed lease into a draft
Attach a signed lease as a PDF or photo and press Read with AI. You get a plain summary and up to 14 terms, each with the words of the lease it came from. Tick the ones you want and apply them.
PLANSFrom Growth
The problem it solves
- Old leases come in as scans, and someone types the dates, rent and notice periods by hand.
- A break clause or rent review is buried on page 14 and found too late.
- Typing mistakes in the rent or end date go on to every bill and reminder.
How it works
- On a Growth or Scale database the AI action is installed with the plan. To use it, switch the feature on in Lease > Configuration > Settings (it starts off). Your administrator switches AI on for each person in Administration > AI > AI Users.
- On the lease, add the signed document on the Signing and Registration tab.
- Press Read with AI. The AI reads the file and writes a summary. It covers parties, premises, term, rent, deposit, reviews, breaks, renewal, repairs, use, special clauses and points to watch.
- The Read by AI tab lists each term, what the lease holds now, and Where It Says So.
- Untick any term you do not want and press Apply Terms.
- On a draft lease every ticked term is applied. On a confirmed lease only the signed date, registration number, notice periods and permitted use are.
Everything it does
Terms it can read
- Lease start, lease end, rent, rent per month or year, how often paid, due day
- Deposit in months of rent, tenant notice and landlord notice in days
- Permitted use, review every (months), review by
- Signed date and registration number
Rules the AI follows
- Leaves out what the lease does not say and never guesses
- Dates as year-month-day, amounts as plain numbers, a month of notice counted as 30 days
- Each term carries a quote from the lease
Applying
- Nothing changes until you press Apply Terms
- A value that cannot be read as a date or number is skipped and listed in the lease's history
- Applied terms are marked and greyed out
- Reading again replaces the earlier terms
Files
- PDF, JPEG or PNG, up to 15 MB
- The lease's history notes how many terms were found
Who uses it
Lease userReads old and new signed leases with AI and applies the terms.
Lease ManagerSwitches Lease reading by AI on for the Entity and checks the summary.
AdministratorSwitches AI on for the people who use it.
Where you use it
- Web: the lease form, Read with AI under the signed document and the Read by AI tab
- Web: Lease > Configuration > Settings, Lease reading by AI
- Web: Administration > AI (AI Users, Allowance, AI Usage) for your administrator
- Not in the apps
What you control
Settings
- Lease Reading by AI: off to start with, per Entity
- AI per person: off until an administrator switches it on
Questions
Is the AI in my plan?
It comes with Growth and Scale, not Starter. On those plans the AI action is installed. It runs once your administrator switches AI on for the people who use it, and the feature's switch is on. Each use takes AI credits from the plan's monthly allowance.Can the AI change a running lease's rent?
No. Once a lease is confirmed only the signed date, registration number, notice periods and permitted use can be applied. Rent and dates change through a review or renewal.What if the AI reads a term wrongly?
Untick it before you press Apply Terms. Each term shows the words of the lease it came from, so you can check it against the document.Does it read handwritten or scanned leases?
It reads PDFs and photos up to 15 MB. Clear scans read best; terms the AI cannot find are left out rather than guessed.Where does the AI run, and is my data kept by it?
Requests go from your database to the SmartMy AI service of your subscription, which holds the AI provider key. Every call is logged in Administration > AI > AI Usage, with the feature, the person and the result.Related features
LEASES AND RENTLeases with joint tenants, guarantors and several unitsA lease holds the tenant, joint tenants, occupants, guarantors, one or more units, the term, the rent and how it is paid. Confirm it and the rent schedule, the deposit and the unit statuses follow.LEASES AND RENTLeases signed through SmartMy SignSend a lease for signing online from the lease itself. The tenant and your signer each get their own link, confirm a one-time code and sign. The signed PDF with its audit trail comes back to the lease.LEASES AND RENTRent reviews, stepped rents and price indexesEach lease carries its own rent increases. Use a share or an amount every so many months, or stepped rents from set dates. Or use a price index such as CPI with a floor and a cap. Bills pick up the new rent on the day it starts.LEASES AND RENTRenewals, breaks, holdover and notices to vacateRenew a lease with a new term and rent, and offer it to the tenant on their page. Let the new lease take over on its first day. Break options, holdover rent and notices to vacate each have their dates.ASSETSSmartMy Sign extras: AI reading, bulk send, digital seal and APIOn Scale, SmartMy Sign adds bulk send of one document to many tenants and a digital seal on every signed PDF. It also adds an API with webhooks for your own systems. It also has the AI read signed documents, once switched on.
See your buildings on it.
Tell us how many properties and units you have, whether you let your own or manage for owners, and how rent is paid today. We will set up your portfolio with you on SmartMy Lease.