Landlords, tenants, lenders and property managers abstract leases so that billing, critical dates and lease accounting run from a register instead of from a stack of PDFs. A useful abstract captures the commencement and expiration dates, rent steps, operating expense terms, option and notice windows and the clauses that carry obligations, and records which document each value came from.
The common mistake is abstracting the original lease and ignoring what came after it. A later amendment overrides the original, so an abstract is only reliable when it covers the whole document chain. AI can read the documents and propose values, but the values that drive money and deadlines should be cross-checked, for example commencement plus term against the stated expiration, and reviewed by the person who administers the lease.