New product enables all stakeholders in the leasing process to draft leases and negotiate terms within LeasePilot’s intuitive, cloud-based platform
BOSTON (June 11, 2019) — LeasePilot, the only cloud-based platform that accelerates and simplifies the drafting, negotiating and abstracting of commercial real estate (CRE) leases, today announced Version Control, a new solution that brings property owners and tenants together on the same platform to seamlessly collaborate on every draft of a lease. Version Control eliminates the traditional redlining process, making it easier and safer to import and merge changes from one iteration of a lease to the next.
The current commercial real estate lease negotiation process forces attorneys to spend an inordinate amount of time compiling lease edits from an abundance of siloed channels — conference calls, emails, word-of-mouth, memos and redline edits. Incorporating this disjointed feedback is tedious and introduces the possibility for human error. With Version Control, all suggested edits are communicated directly within the LeasePilot platform, accessible by all parties, ensuring accuracy and efficiency.
“With the introduction of Version Control, lawyers and brokers can focus on higher-level work that truly adds value to the business, instead of wasting time incorporating convoluted feedback into countless iterations of a lease,” says Gabriel Safar, CEO and co-founder of LeasePilot. “LeasePilot and Version Control make negotiations between owners and tenants — often an awkward and uncomfortable process — faster, more transparent and collaborative, leading to better tenant experience and better results for everyone’s bottom lines.”
LeasePilot’s mission is to eliminate the need for antiquated paper documents and to transform commercial real estate leasing by pairing innovative digital technology with tried-and-true legal industry standards, streamlining and optimizing business processes to fill vacant space faster. In 2018, the company saw a 900 percent increase in annual returning revenue, more than 200 percent growth in platform transaction activity, and a 75 percent increase to its client roster, which currently includes industry-leading companies
JBG Smith and Oxford Properties.
Existing LeasePilot customers can add Version Control as a feature beginning in November. For more information on LeasePilot, visit leasepilot.co.
LeasePilot was founded in 2015 by two seasoned commercial real estate attorneys who recognized that commercial leases should close faster. LeasePilot is the only company creating a scalable, digital future for commercial real estate leasing. The company is accelerating the timeframe to close a commercial lease by pairing innovative technology with tried-and-true legal industry standards. By empowering customers through data-driven technology, LeasePilot is moving the industry away from antiquated paper documents and evolving leasing to meet today’s market expectations.