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How to check an AI-made rent roll reconciliation
AI can compare a rent roll with the leases in minutes. Often it’s close. When it’s wrong, it looks exactly the same. Here are seven checks you can do yourself, in the order that catches the most mistakes for the least work.
The short version. Don’t ask the AI if it got it right. Open the leases and the rent roll and check its answer yourself. For why these mistakes happen, see Eight mistakes AI makes checking a rent roll when nobody checks its work.
Plan for the time. These seven checks find the worst mistakes. Checking every number for every tenant by hand can take days on a big building.
1. Count the tenants
Count the lines on the rent roll, including empty suites. Count the leases you have. Every line should be matched to a lease, or marked as empty or missing its lease. Every lease should be matched to a line, or marked as not on the rent roll. Do this first. A tenant who was left out won’t show up in any other check.
2. Make sure each lease is next to the right tenant
For each lease, check that the suite, the tenant’s name and the size on its line belong to that lease. Watch for a suite written two ways, like “05-502-3” and “Suites 502 and 503”, and for a tenant with more than one lease.
3. Use the newest version of each lease
List every amendment to each lease, oldest to newest. Where the AI found a difference, check that it used the newest document that sets that number, not the original lease. If an amendment is dated after the rent roll, the rent roll couldn’t show it yet, so it isn’t the rent roll’s mistake.
4. Check the rent for the rent roll’s date
Find the date on the rent roll. In the lease’s rent table, find the rent for that date. That’s the rent that should have been compared. A rent increase a few months before the rent roll’s date is the one most often missed.
5. Make sure rent is compared with rent
See which column the AI took the rent from. It shouldn’t be the total monthly bill with taxes, electricity or heat in it. It shouldn’t be the asking rent, or the rent per foot. The lease sets only the rent, so compare it with the rent alone.
6. Check the free rent and the extra charges
For each free rent period in the lease, check that the rent roll gives the same months and takes off the whole rent, not just part of it. Then look at every other charge the rent roll bills, like taxes, electricity or heat, and find where the lease allows it. Last, check the other way: anything the lease says the tenant pays should be billed.
7. Open the page it points to
Pick a few answers marked as matching and a few marked as different. Open the lease at the page the AI names and find the words yourself. Check that the numbers really match or really differ. Then check that the summary counts add up from the detail.
Lista rápida
- Every tenant and every lease is counted.
- Each lease is next to the right tenant.
- The newest version of each lease is used.
- The rent is the rent on the rent roll’s date.
- Rent is compared with rent, not the total bill.
- Free rent and every charge match the lease.
- The page it points to really says it.