Fifth Dimension AI Delivers 98.49% Accuracy in Lease Data Extraction
Why Lease Data Matters
Accurate lease data is critical for effective real estate portfolio management, but extracting it remains challenging. Most real estate businesses struggle with the unstructured and inconsistent nature of leases, often leading to costly errors and missed opportunities. Inaccurate lease data can result in financial losses, legal risks, and poor decision-making.
The current solutions using conventional machine learning methods have provided disappointing results for lease data extraction. With the accuracy of some machine-only systems being as low as 40% to 50%. Meaning humans still have to do most of the work.
A New Way
Fifth Dimension AI has created a software product that uses cutting-edge technology to automate data extraction from leases, delivering accurate results beyond multi-stage human QA. Their technology needs no human intervention, processes documents in minutes and outperforms conventional methods of lease data extraction.
Going beyond just extracting data, Fifth Dimension AI’s property partner, Ellie, can analyse 100s of real estate legal documents, answer questions across your entire portfolio and empower your professionals day to day. Watch a video of Ellie in action here.
Measuring Ellie’s Performance
Fifth Dimension AI partnered with a large asset owner to test Ellie lease data extraction against a human benchmark across a portfolio of 112 assets. The test included:
1,729 scanned PDFs
15 years of lease history
Assets across the US and UK
Office, retail, industrial and logistics properties
Multiple documents per asset over many years
176 key lease data points were extracted into standardised Excel and JSON templates. Ellie's output was analysed against the human benchmark, investigating discrepancies and validating accuracy against the original documents.
The Results
Fifth Dimension AI’s property partner Ellie, outperformed the human benchmarks, achieving a 98.49% accuracy rate, as well as identifying material errors in the benchmarks. The benchmark accuracy was estimated at 93.10%.
Ellie achieved a 98.49% accuracy rate.
Review of sample of leases indicated that Human extracted data had more errors. Based on sample data analysis human extracted data accuracy was 93.10%.
Specific areas where human error was most likely
Lease term
What legislation was relevant or not to the lease
Rent reviews
Addresses
Comparison of Accuracy Results by Category
Key Takeaways
Fifth Dimension AI’s systems surpass existing methods for extracting lease data, even for large and complex real estate portfolios
Fifth Dimension AI's Ellie solution achieved 98.49% accuracy, materially outperforming an expert human benchmark
Near-perfect lease data enables real estate businesses to make faster, better-informed decisions while reducing costs and risk
To learn more about how Fifth Dimension AI can transform your real estate lease management, contact us today.