Method and system for completing a lease for real property in an on-line computing environment

• US 20020062277A1
• Filed: 01/22/2001
• Published: 05/23/2002
• Est. Priority Date: 11/20/2000
• Status: Active Grant

• Current Assignee: Resman, LLC (Property Brands, Inc.)
• Original Assignee: General Electric Capital Corporation (General Electric Company)
• Inventors: Foster, Paul, Warshauer, Richard
• Granted Patent: US 7,636,687 B2
• Time in Patent Office: Days
• US Class Current: 705/38
• CPC Class Codes: G06Q 30/06 Buying, selling or leasing transactions
• CPC Class Codes: G06Q 40/00 Finance; Insurance; Tax strategies; Processing of corporate or income taxes
• CPC Class Codes: G06Q 40/03 Credit; Loans; Processing thereof

Abstract

The present invention relates to completing a lease for property in an on-line computing environment. A distributed computer network can enable a user to access multiple databases and to obtain comparables data related to a property of interest for use in calculations. This can enable users to access the latest, broadest set of relevant property data and to select relevant comparable values quickly and with minimal manual intervention. An on-line property management environment can comprise a distributed computer network, such as the global Internet, coupled to numerous client computers, a property services server platform connected to a local data base, and numerous property information databases. Building owners or their agents can list their available space for rent on a Web site hosted b (a property services server platform in a distributed computing environment. Commercial tenants or their agents requiring space can either directly enter the property services server platform or enter through allied sites.

Claims

1. A computer-implemented system for completing a lease for real property in an on-line computing environment, comprising:

a distributed computer network comprising a property management services server, databases and client computers, each coupled to a computer network;

the property management services server hosting a leasing program module for completing a lease for real property;

the databases storing real estate property-related data, including property comparables data for multiple real estate properties; and

the client computers operable by users to access the leasing program module operating on the property management services server and to input predetermined information about the selected real estate property in support of completing a lease for the selected real estate property;

wherein, responsive to the predetermined information about the selected real estate property, the leasing module program operating on the property management services server accesses the property data in at least one of the databases via the computer network to obtain comparables relevant to the selected real estate property, completes the lease for the selected real estate property, and presents the lease and the comparables for the selected real estate property.

2. The system of claim 1, wherein the client computers are operated by a plurality of users selected from the group, comprising:

a tenant evaluating the selected real estate property for a potential lease;

a lender for supporting property financing requirements for the selected real estate property;

a site visit agent for supporting on-site property review and analysis of the selected real estate property;

a property specialist for providing property-related expertise in connection with the selected real estate property; and

a deal agent for screening, negotiating, and closing property-related transactions.

3. The system of claim 2, wherein the property specialist comprises:

property appraisal specialists;

property engineering specialists; and

property environmental specialists.

4. The system of claim 1 or 2, wherein the property management services server further comprises program modules for budgeting, financing, and forecasting of property payments for real estate property.

5. The system of claim 1, wherein the databases are databases containing property information maintained at a local site or databases containing property information maintained at a remote site.

6. A method for completing a lease for real property in an on-line computing environment, comprising:

storing owner property characteristics on-line;

defining a tenant'"'"'s property requirements on-line;

conducting a search on-line to locate owner properties matching the tenant'"'"'s property requirements; and

publishing on-line the owner properties that match the tenant'"'"'s property requirements.

7. The method of claim 6, comprising:

modifying on-line the tenant'"'"'s property requirements.

8. The method of claim 6, comprising:

ordering on-line supplemental information for the owner properties that match the tenant'"'"'s property requirements.

9. The method of claim 6, comprising:

ordering on-line an inspection of the owner property matching the tenant'"'"'s property requirements;

coordinating on-line the inspection by a state representative; and

generating on-line a term sheet for the inspection.

10. The method of claim 6, comprising:

creating a lease agreement on-line by populating the owner'"'"'s property characteristics with lease terms and legal provisions;

publishing the lease agreement on-line for review by interested parties;

allowing the interested parties to revise the lease agreement on-line; and

allowing the interested parties to execute the lease agreement on-line.

11. The method of claim 6, comprising:

allowing interested parties to make offers on property on-line;

allowing the interested parties to accept the offers on-line; and

allowing the interested parties to modify the offers on-line.

13. The method of claim 12, comprising:

scheduling a property inspection on-line;

registering a user;

allowing a user to log in;

running a property cost analysis on-line;

searching property listings on-line;

selecting a property on-line;

entering property location and owner address information on-line;

entering property business terms on-line;

sending and receiving offers on-line;

sorting the offers on-line;

accepting or modifying the offers on-line;

completing an offer analysis on-line; and

generating an offer analysis report on-line.

14. The method of claim 13, comprising:

forming a lease on-line;

making changes to the lease on-line;

executing the lease with a digital signature on-line;

scheduling lease transaction costs on-line;

sending lease bills on-line;

making lease payments on-line; and

managing the lease on-line.

12. A computer-implemented method for computing a lease for real property in an on-line computing environment, comprising:

entering property information;

making help information available regarding entering property information;

conducting a search based on the property information; and

displaying search reports.