Fifth Dimension 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 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’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 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’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 likelysome text
  • Lease term
  • What legislation was relevant or not to the lease
  • Rent reviews
  • Addresses

Comparison of Accuracy Results by Category

Key Takeaways

Fifth Dimension’s systems surpass existing methods for extracting lease data, even for large and complex real estate portfolios

• Fifth Dimension'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 can transform your real estate lease management, contact us today.