Breaking Property News – 13/09/2023
Daily bite-sized proptech and property news in partnership with Proptech-X.
Cakebot helps with lease management
PRESS RELEASE – Leasecake, a leading provider of lease management software, is proud to announce the launch of its ground-breaking new tool, Cakebot: Approachable AI for Lease Management. Featuring both a Lease Chatbot and Lease Clause Summarization, this new offering is set to redefine how business owners and operators navigate the complexities of lease agreements, streamlining processes and empowering users with newfound efficiency.
Lease agreements have long been notorious for their intricate and lengthy language, often posing challenges for tenants. Deciphering these documents requires intensive analysis, especially for real estate and accounting experts who aren’t legal specialists. But, Leasecake’s Cakebot is here to transform the game.
Leasecake is harnessing the power of large language models (LLMs) to simplify the leasing process. Users can ask Cakebot questions about their lease and get quick answers. The AI-powered tool analyses and extracts vital information from even the most complex agreements and provides assistance on lease related questions. In addition, it offers concise, easy-to-understand summaries of otherwise complex legal critical clauses.
“The acceleration of generative and conversational AI technologies has reached a point where many commercial real estate challenges can be solved in seconds instead of hours or days,” said Dave Schrader, Chief Product Officer of Leasecake. “With Cakebot, customers can now speak directly with their own data in a conversational way, getting not only specific details, but real-time summarizations of lengthy contracts.”
With the launch of Cakebot, Leasecake is spearheading a new era in the real estate industry. The power of AI-driven automation and innovation will propel leasing practices into the future, marking a significant step towards smarter and more efficient real estate management.
Leasecake is a proptech real estate technology company focused on delivering innovative solutions to streamline and enhance lease management for restaurant and retail owners and operators. Committed to simplifying complex processes, it aims to empower individuals and businesses alike, enabling them to simplify their lease management and free up their time so they can focus on growing their business.
Will the Bank of England raise the base rate on the 21st of September
In eight days we will know if the base rate has been raised yet again by the BoE, if rates go up, the residential mortgages will cost more, and the slowing housing market may grind to a halt. Also those coming off a two or five year fixed rate may find that their mortgages have incresed by over 40%.
The smart money is on a further hike in the rate, with many lenders offering teaser rates at a slightly low level to encourage the market, which may be withdrawn when the new higher rates hot. Also savers are now seeing 5% plus rates being offered on easy access accounts which means that with dipping house prices, and increased finance to pay for them, simple investment for 12-months, the locking up of £300,000 or more may well be a better return.
Andrew Stanton Executive Editor – moving property and proptech forward. PropTech-X
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