Benefits

Facilitate faster turnaround time for the sales team and tenants

Empower the sales team to draft agreements faster and escalate them to appropriate approvers so that they can spend more time on the needs of the client

Eliminate agreement errors and maintain a strong reputation

By using compliant-by-design standard templates, operational excellence and a consistency in the leasing agreement is achieved.

Improve tenant experience

Moving from manually generated agreements to automated agreements with e-signature makes the process convenient and effortless so your sales team can provide a quality experience every time.

Track the agreement and e-signature status

Track the progress of the leasing agreement across all stages of the process via MLS dashboards. Upon signature, documents are automatically directed to the repository of choice and sent to assigned stakeholders.

challenges

HOW DOES MLS ADDRESS IT?

There is usually a high turn-around time for Leasing Agreements due to the manual nature of the information capture and agreement generation process. The sales team collects information from the tenant and from internal systems like the property register and then has to re-key this into the agreement which is extremely time consuming and opens the organization up to risk due to the possibility of human error.

Once the leasing agreement has been drafted, it requires approval from legal teams and/or the head of sales. This process is difficult to coordinate as the agreement is sent back and forth through email with very low visibility over the status of the approval. It is also important to note that many agreements have the potential to be 100% self-serve. However, given the absence of a process, legal is unnecessarily reviewing these.

If clients or tenants find an error in the final lease agreement, the organization can experience serious reputational damage.

No visibility for the sales team, lawyers, or tenant on the progress of the leasing agreement and minimal analytics on the agreements previously generated for the organization to develop expertise or insights.

With younger tenants expecting more streamlined and automated leasing processes, legal teams are faced with the challenge of:

1. Enabling the sales team with the right tools to provide a better experience.

2. Keeping up with the demand and pressure from the sales team.

MLS’s no code App builder empowers users to create smart forms that streamline the data collection and validation process alongside populating information from centralized sources e.g., property information. The platform allows users to put proper checks in place and eliminate the risk of manual data entry when creating leasing agreements.

With MLS, users can leverage workflows to facilitate approvals and escalate agreement drafts to the legal team for review. MLS’s complex decision engine and conditional clauses also escalates agreements with special terms to other necessary approvers.

MLS allows organizations to build versatile yet standardized agreement documents that reduce the risk of human error.

These documents are automatically customized and can feature:

1. Conditional clauses – only the relevant clauses are inserted into the document and numbered automatically.

2. Dynamic tables to structure information in rows and columns that are adjusted automatically to the content.

Track the real-time status of leasing agreements with MLS dashboards where information such as application status, and approval timestamps can be displayed.

Generated and signed agreements are all stored in MLS and can be sent to store in other document repository systems such as Google Drive, SharePoint, iManage, or NetDocuments.

With MLS, legal teams can automate the end-to-end leasing agreement process, allowing the sales team to draft agreements faster, track the status of approval, keep clients engaged with live updates and faster turnaround times and have full visibility over past analytics, all using drag and drop.