Standardized, Commercial Real Estate "Lease Analysis Conversion and Comp Data" Platform

• US 20140365339A1
• Filed: 02/12/2014
• Published: 12/11/2014
• Est. Priority Date: 06/10/2013
• Status: Abandoned Application

• Current Assignee: TenantRex LLC
• Original Assignee: TenantRex LLC
• Inventors: Hessen, Adrian T.
• Application Number:
  US14/178,761
• Publication Number:
  US 20140365339A1
• Time in Patent Office: Days
• US Class Current: 705/26.64
• CPC Class Codes: G06Q 30/0629 for generating comparisons
• CPC Class Codes: G06Q 50/16 Real estate

Abstract

A method for providing service users with occupancy cost comparisons between a plurality of commercial leased properties includes the steps of: (a) defining an occupancy cost parameter for a leased property, (b) providing an interface for service users to input into a searchable database the identifying property information and the specific lease terms required to compute this occupancy cost parameter for each of the leased properties, (c) providing an algorithm that utilizes the inputted specific lease terms information to compute the occupancy cost parameter for each of the leased properties, (d) utilizing the occupancy cost parameters to create a fiduciary-responsibility-abiding (FRA) lease comp for each of the leased properties, and (e) storing in the database the FRA lease comp for each of the leased properties.

Claims

1. A method, performed by a networked computing device, for providing service users with occupancy cost comparisons between a plurality of commercial leased properties, said method comprising the steps of:

defining an occupancy cost parameter for a leased property,

providing a database,

providing a spreadsheet adapted for each of said service users to use to input into said database the identifying property information and the specific lease terms required to compute said occupancy cost parameter for each of said leased properties to which a service user has been a principal in the leasing transaction of said leased property,

accepting into said database said identifying property information and the specific lease terms required to compute said occupancy cost parameter for each of said leased properties to which a service user has been a principal in the leasing transaction of said leased property,

utilizing said networked computing device, with said inputted specific lease terms information, to compute said occupancy cost parameter for each of said leased properties,

utilizing said computed occupancy cost parameters to create a fiduciary-responsibility-abiding (FRA) lease comp for each of said leased properties,

storing in said database said created FRA lease comp for each of said leased properties, and

wherein said database having has a configuration adapted to provide for the searching of said created FRA lease comps stored in said database by each of said service users.

2. The method as recited in claim 1, further comprising the step of:

analyzing said FRA lease comps stored in said database to make occupancy cost comparisons between said leased properties.

3. The method as recited in claim 1, further comprising the step of:

adapting further said spreadsheet for each of said service users to use to input into said database the identifying property information and the specific lease terms required to compute said occupancy cost parameter for a market property to which said inputting service user has not been a principal in the leasing transaction of said market property,

computing, utilizing said inputted specific lease terms information, said occupancy cost parameter for each of said market property,

utilizing said computed occupancy cost parameters to create a market comp for said market property,

storing in said database said created market comp for each of said market property, and

wherein said database has having a configuration adapted to provide for the searching of said created market comps stored in said database by each of said service users.

4. The method as recited in claim 2, further comprising the steps of:

adapting further said spreadsheet for each of said service users to use to input into said database the identifying property information and the specific lease terms required to compute said occupancy cost parameter for a market property to which said inputting service user has not been a principal in the leasing transaction of said market property,

computing, utilizing said inputted specific lease terms information, said occupancy cost parameter for each of said market property,

utilizing said computed occupancy cost parameters to create a market comp for said market property,

storing in said database said created market comp for each of said market property, and

wherein said database has having a configuration adapted to provide for the searching of said created market comps stored in said database by each of said service users.

5. The method as recited in claim 1 and expanded to include the function of storing and analyzing lease comp related information acquired throughout the life cycle of a property leasing transaction, said method further comprising the steps of:

providing a private database for each of said service users, and

adapting further said spreadsheet for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

6. The method as recited in claim 2 and expanded to include the function of storing and analyzing lease comp related information acquired throughout the life cycle of a property leasing transaction, said method further comprising the steps of:

providing a private database for each of said service users, and

adapting further said spreadsheet for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

7. The method as recited in claim 3 and expanded to include the function of storing and analyzing lease comp related information acquired throughout the life cycle of a property leasing transaction, said method further comprising the steps of:

providing a private database for each of said service users, and

adapting further said spreadsheet for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

8. The method as recited in claim 4 and expanded to include the function of storing and analyzing lease comp related information acquired throughout the life cycle of a property leasing transaction, said method further comprising the steps of:

providing a private database for each of said service users, and

adapting further said spreadsheet for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

9. The method as recited in claim 7, further comprising the step of:

analyzing said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

10. The method as recited in claim 8, further comprising the step of:

analyzing said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

11. A system for providing service users with occupancy cost comparisons between a plurality of commercial leased properties, said system comprising:

a defined occupancy cost parameter for a leased property,

a database,

a spreadsheet for each of said service users to use to input into said database the identifying property information and the specific lease terms required to compute said occupancy cost parameter for each of said leased properties to which a service user has been a principal in the leasing transaction of said leased property,

a networked computing device programmed to accept into said database said identifying property information and the specific lease terms,

wherein said computing device further programmed to utilize said inputted specific lease terms information to compute said occupancy cost parameter for each of said leased properties,

wherein said computing device further programmed to use said computed occupancy cost parameters to create a fiduciary-responsibility-abiding (FRA) lease comp for each of said leased properties,

wherein said created FRA lease comp for each of said leased properties being stored in said database, and

wherein said database has a configuration adapted to provide for the searching of said created FRA lease comps stored in said database by each of said service users.

12. The system as recited in claim 11, wherein:

said computing device further programmed to analyze said FRA lease comps stored in said database to make occupancy cost comparisons between said leased properties.

13. The system as recited in claim 11, wherein:

said spreadsheet further adapted for each of said service users to use to input into said database the identifying property information and the specific lease terms required to compute said occupancy cost parameter for a market property to which said inputting service user has not been a principal in the leasing transaction of said market property,

said computing device further programmed to utilize said inputted specific lease terms information to compute said occupancy cost parameter for each of said market property,

said computing device further programmed to use said computed occupancy cost parameters to create a market comp for said market property,

said created market comp for each of said market property being stored in said database, and

said database has a configuration adapted to provide for the searching of said created market comps stored in said database by each of said service users.

14. The system as recited in claim 12, wherein:

said spreadsheet further adapted for each of said service users to use to input into said database the identifying property information and the specific lease terms required to compute said occupancy cost parameter for a market property to which said inputting service user has not been a principal in the leasing transaction of said market property,

said computing device further programmed to utilize said inputted specific lease terms information to compute said occupancy cost parameter for said market property,

said computing device further programmed to use said computed occupancy cost parameters to create a market comp for said market property,

said created market comp for each of said market property being stored in said database, and

said database has a configuration adapted to provide for the searching of said created market comps stored in said database by each of said service users.

15. The system as recited in claim 11 whose function is expanded to include the storing and analyzing of said lease comp related information acquired throughout the life cycle of a property leasing transaction, said system further comprising:

a private database for each of said service users, and

wherein said spreadsheet further adapted for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

16. The system as recited in claim 12 whose function is expanded to include the storing and analyzing of said lease comp related information acquired throughout the life cycle of a property leasing transaction, said system further comprising:

a private database for each of said service users, and

wherein said spreadsheet further adapted for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

17. The system as recited in claim 13 whose function is expanded to include the storing and analyzing of said lease comp related information acquired throughout the life cycle of a property leasing transaction, said system further comprising:

a private database for each of said service users, and

wherein said spreadsheet further adapted for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

18. The system as recited in claim 14 whose function is expanded to include the storing and analyzing of said lease comp related information acquired throughout the life cycle of a property leasing transaction, said system further comprising:

a private database for each of said service users, and

wherein said spreadsheet further adapted for each of said service users to use to input into said private database of said service user said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

19. The system as recited in claim 18, wherein:

said computing device further programmed to analyze said lease comp related information acquired by said service user throughout the life cycle of a property leasing transaction of said service user.

20. A computer program product for use in conjunction with a computer system including a processor and a memory storage device, the computer program product comprising a computer readable, non-transitory storage medium and instructions thereon for providing service users with occupancy cost comparisons between a plurality of commercial leased properties, said instructions comprising the steps of:

defining an occupancy cost parameter for a leased property,

creating a database on said memory storage device,

creating a spreadsheet for each of said service users to use to input into said database the identifying property information and the specific lease terms required to compute said occupancy cost parameter for each of said leased properties to which a service user has been a principal in the leasing transaction of said leased property,

accepting into said database said identifying property information and the specific lease terms required to compute said occupancy cost parameter for each of said leased properties to which a service user has been a principal in the leasing transaction of said leased property,

directing said processor to use said inputted specific lease terms information to compute said occupancy cost parameter for each of said leased properties,

directing said processor to use said computed occupancy cost parameters to create a fiduciary-responsibility-abiding (FRA) lease comp for each of said leased properties,

storing in said database said created FRA lease comp for each of said leased properties, and

configuring said database to provide for the searching of said created FRA lease comps stored in said database by each of said service users.