Financial data is crucial to any real estate venture. The intellectual property required for a real estate venture is significant to its validity. When buying, selling, leasing, or renting any property, crucial financial data is analysed to make the best decisions. Documents such as T12, Operating Statement (OS), and Rent Rolls are thoroughly analysed to determine the potential of a real estate opportunity. For every real estate venture, the financial data shows it’s performance and value.
The T12 statement comprises all monthly expenses and revenues of a rental property in the past year.
The Operating Statement or OS is one of the prime indicators of real estate legitimacy and value.
When an investor invests in a rental property, they are buying two parts of the real estate, the property and its rental income. To make an informed decision on rental properties, buyers analyze the Rent Roll.
Most real estate agencies or brokers spend hours to extract data from T12, analyse Rent Rolls and furnish a complete Operating Statement. Various documents required for a single real estate property can be hectic to manage, let alone extract, compile, and analyse.
Some of the key challenges faced with manually extracting real estate data are:
The complexity of extracting real estate data can be simplified. Automation technology has taken leaps into the documentation process for commercial real estate. Real estate documentation, extraction, analysis, and data projections have become easier through automated software like Docsumo.
Automated data extraction makes real estate operations easier, and the final outcome a result of thought-out and incisive decisions.
Docsumo is an advanced software designed to extract information into a structured format from unstructured PDFs, scanned documents, and images. Considering the large sets of documentation required, the process is simplified into a few steps to extract data and compile it, saving hours on data entry tasks.
In a few simple steps, the Docsumo intelligent software extracts data from documents within minutes. The data is presented in a structured format. This method is used for extracting financial data, report analytics, Rent Roll data, creating a T12, OS, and much more.
Almost every complication in data collection and analysis can be resolved if there is an efficient system to extract data and produce finished reports. That’s why real estate building managers, accountants, record keepers, investors, investment partners, and associates lean on technology like Docsumo for improved efficiency. To maintain the financial data securely and extract crucial sets of data in any volume, automated data extraction is useful.
With the best software designed to extract real estate data, Docsumo is revolutionizing the way we look at intellectual property. No more long hours of running through sets of documentation. In a few clicks, the data is fetched, organized, and compiled with an interface that’s easy to understand.
With a high-performance software, users get the best of both worlds, accurate data extraction and exceptional efficiency. It’s so much easier to analyze thousands of bank records and confidential statements and extract data from T12 in a few minutes. Users can even analyze multiple rental properties to decide how to generate more revenue. You can handle all your assets and intellectual property the right way with the ideal software. Automated data extraction results in seamless efficiency and timely real estate proceedings.
To discover how to make real estate proceedings easier, more convenient, and extremely accurate, book a free demo with us.
In today’s dynamic business world, filing and archiving official documents in the digital form makes it handy, and works wonders in the future or in unforeseen circumstances.
With an automated data extraction solution, loan documents can automatically be processed end-to-end without any human errors and delays. Automation in loan document processing prevents downtimes, eliminates data redundancy, and allows companies to respond faster to client queries. By combining machine learning with deep learning and OCR, companies can eliminate huge costs, derive actionable insights, and streamline loan processing and approvals through efficient data extraction and analysis.
Mortgage lenders receive multiple identity and income verification documents along with different forms from loan applicants in a variety of formats and styles. Traditional OCR solutions fail to extract data from these semi-structured documents and that’s why more and more lenders are adopting intelligent document processing solutions. IDP solutions not only extract data correctly, they are able to validate extracted data against predefined rules in order to improve accuracy.
Intelligent Document Processing is an automation technology that captures information from a myriad of documents and data sources, extract data, and organizes it for further processing. IDP solutions enable businesses to seamlessly integrate with core processes, eliminate manual labour, address challenges faced in reading different document layouts, and meeting legal & compliance requirements. Accurate data is the foundation of every organization, and IDP assists businesses in dealing with the complexity of processing huge volumes of documents, helping them automate manual data entry processes, and move away from traditional semi-automated OCR workflows.