Managing the review, and execution of lease agreements in real estate transactions is traditionally a manual and fragmented process. Legal teams often rely on email chains, Word documents, and spreadsheets to coordinate tasks, track edits, and manage communication across multiple stakeholders. This approach can lead to version confusion, delays, and miscommunication.
Legatics transforms this workflow by centralizing the lease agreement process into a dynamic, collaborative platform - making lease management faster, clearer, and more secure.
Let’s explore how Legatics improves lease agreement workflows from start to finish!
Traditional lease processes are disjointed and inefficient
The legacy approach to managing lease agreements introduces several bottlenecks:
Version control challenges:
Drafts of lease agreements are frequently passed around via email, leading to confusion over which version is the most current. This can result in duplicated work or, worse, key clauses being missed or outdated.Tracking key dates and actions is manual:
Critical milestones (like renewal dates, landlord or tenant comments, and approvals) are typically logged in separate trackers or manually flagged in email threads, creating room for oversight.Inefficient collaboration:
When stakeholders work from siloed documents, collaboration becomes slow and unclear. It’s difficult to track who is responsible for what, and important updates may go unnoticed.Inconsistent formatting and outputs:
Manually managing formatting in Word or Excel across a set of leases leads to inconsistent outputs, especially when sharing documents with external parties or for final filing.
Legatics transforms lease management into a centralized process
Import your lease summary or tracker
Start by importing your existing lease agreement tracker -whether in Excel or Word. Legatics will convert this into a structured, dynamic list, maintaining your data and enabling instant collaboration.
Centralize lease terms and document review
Create a list of lease agreements with key fields like property address, rent amount, parties involved, and current status. Upload draft and supporting documents alongside entries and use comments to track review notes - all in one place.
Assign responsibilities and due dates
Assign specific tasks to internal or external stakeholders (e.g. reviewing clauses, confirming dates, obtaining signatures). Due dates and responsibilities are clearly visible, helping you stay on top of timelines.
Collaborate in real-time
Team members can edit, comment, and update list items in real-time, with changes tracked in a detailed audit trial. Everyone is always working from the latest version -no more lost edits or duplicated feedback. Controlled access is provided to clients, landlords, tenants, and other parties.
Track progress, approvals, and signing
Track the progress of clauses and leases using custom statuses such as "In Draft," "Agreed," "Disputed," "Under Review," "Approved," and "Executed." Apply filters to spotlight outstanding tasks or agreements nearing key deadlines. Track Land Registry applications, upcoming renewals, and coordinate signing across all relevant parties.
How to manage an Agreements For Lease (AFL) Tracker in Legatics
Step 1: Upload your existing lease tracker
Start by importing your lease summary from Excel or Word into Legatics. The system preserves your data and converts it into a smart, interactive format.
Step 2: Customize your list
Add dynamic columns for everything you want to track -such as renewal options, break clauses, or security deposits. Tailor the view to suit your workflow.
Step 3: Assign tasks and collaborate
Assign action items in the status column for reviewing drafts or confirming lease data to individuals and organisations. Use comment threads for each lease to centralize discussion and negotiation, and avoid endless email chains.
Step 4: Monitor milestones and finalize documents
Manage multiple drafts of documents with clear version history tracking and a detailed audit trail of changes. Track execution dates, review statuses, and final sign-offs. Once a lease is complete, export the list for reporting or file the documents securely.
Step 5: Manage signing efficiently in one place
Coordinate and track signing directly in Legatics by assigning parties, monitoring progress through the specialised signing view, integrating with Docusign, and storing final signed documents - all in one centralised platform.
Why Legatics is the better way to manage Agreements for Lease
Legatics helps legal and real estate teams:
✅ Save time by streamlining collaboration and automating status tracking.
✅ Reduce risk by minimizing version errors and ensuring no step is missed.
✅ Improve visibility with centralized tracking of each lease’s status and responsibilities.
✅ Deliver consistency with a unified format across all agreements.
With Legatics, managing lease agreements becomes a smooth, professional process -allowing your team to focus on negotiating terms, not chasing edits.