AI for property management
Start with the rent roll, GL exports, lease scans and vendor quotes already in your folder. Ultramarine Work builds the annual budget, abstracts the leases, prices the renewals and levels the bids.
Maplewood-Flats-2027-budget.xlsxExample| Account | 2026 forecast | 2027 budget | Change | Basis |
|---|---|---|---|---|
| 4000 Gross potential rent | 4,212,000 | 4,380,480 | +4.0% | The rent roll’s 216 units at a 4.0% blended increase. |
| 6100 Repairs and maintenance | 186,400 | 192,000 | +3.0% | Trailing 12 months plus 3% escalation in the service contracts. |
| 6400 Real estate taxes | 512,000 | 563,200 | +10.0% | The reassessment notice raises assessed value 10% at the same millage. |
| 6500 Property insurance | 148,000 | 177,600 | +20.0% | The broker’s renewal indication for the Jan 1 term is 20% over expiring. |
| 7600 Roof replacement | 0 | 340,000 | n/a | Budgeted in operating expenses above NOI. |
NoteMove the $340,000 roof replacement below NOI to capital expenditures, which raises budgeted NOI by the same amount.
Ask it for
“Build Maplewood Flats’ 2027 operating budget from the rent roll and 2026 performance, and keep capital and debt service out of NOI.”
Maplewood-Flats-2027-budget.xlsx“Abstract the Meridian Industries lease and both amendments. I need rent steps, recoveries, option window and deposit, each with the section number.”
Meridian-lease-abstract.xlsx“Compare renewing Suite 900 at $31.50/SF with three months free against the two new-lease quotes for that suite, net effective at an 8% discount rate.”
Suite-900-net-effective.xlsx“Set PM intervals for Northgate’s 42 rooftop units and cooling tower from five years of work orders, and list the PMs that slipped last quarter.”
Northgate-PM-schedule.xlsx“Level the four landscaping bids for Brookstone Commons against the scope sheet and price every exclusion and frequency gap before we award.”
Brookstone-bid-tab.xlsx“Check Halcyon Mechanical’s ACORD 25 and endorsements against the service contract requirements, including additional insured for the owner entity.”
COI-review-Halcyon-Mechanical.pdf
Inside the Property Management mode
Property budget and owner report
Builds the budget lease by lease from the rent roll and drafts the monthly owner report. Capital, leasing costs and debt service stay out of NOI.
Lease abstracts and rent rolls
Turns the lease and every amendment into rent steps, option windows and recovery terms, then ties the rent roll to billing with arrears.
Leasing and renewals
Prices a renewal against market on net effective rent after free rent, TI and commissions, and lists every unexercised option with its notice deadline.
Maintenance strategy and reliability
Sets PM intervals for rooftop units, boilers and backflows from the work order history, and the compliance report shows the tasks that slipped.
Bid tabulation and leveling
Levels landscaping, janitorial and security bids against one scope sheet, prices exclusions, and counts savings only where scope matches.
Certificate of insurance tracking
Checks each ACORD 25 and its endorsements against the lease or contract: limits, additional insured, waiver of subrogation, primary and noncontributory.
- Office skills
- Excel, Word, PowerPoint, PDF
- Tools
- Read, edit and write files, Search files, Run code, Search and read the web, View images
- Connectors
- SharePoint, Google Drive, Gmail, and additional custom connectors
- House style
- Your fonts, layouts and rules, on every file
How it works
- 1
Put the property files in one folder
Drop in the rent roll export, the executed leases with every amendment, the general ledger and invoice detail, work order history, vendor quotes, and the COIs and endorsements tenants and vendors sent.
- 2
Ask for the piece of work
Each request comes back as a file: a budget built lease by lease, a rent roll reconciled to the ledgers, a leveled bid tab or the maintenance schedule. The file cites the document behind every number and notes anything it could not find.
- 3
Review it, then make the call
Check each rent step, option date and deposit figure against its clause, confirm the endorsements on each COI, and take the renewal recommendation to the owner. Nothing posts to Yardi and nothing is served or sent without your review.
Who it’s for
Residential, commercial, affordable housing and community association property managers, from assistant and leasing managers to regional managers.
Questions
Can it screen applicants or approve who gets housing?
It does not screen applicants, score prospects or make a housing decision. HUD’s 2024 guidance applies the Fair Housing Act to screening whatever technology runs it, so the manager checks even the listing wording for phrases that could read as discriminatory. It reads the files you already hold, and the approval or denial belongs to the person who knows the criteria and the applicants.
Will it invent lease terms that aren’t in the document?
Every field cites the lease section and page behind it, and a term the documents do not support comes back as not found instead of a plausible guess. That instruction is not a guarantee, so treat each abstract as a draft until a person signs off. Work the fields that carry money or deadlines first: the option notice window with both boundaries, the rent step in force today, any figure a later amendment restated, and a guarantor the documents never name.
Where do our tenant and owner files end up?
Ultramarine Work changes files only in the project’s folder. When a request needs it, it can read files elsewhere on your computer, never passwords, keys or app data, and you can turn that off in settings. The model runs on Paper Instruments’ servers, so the content it works on is sent there to be processed. Paper Instruments is SOC 2 Type II, and our security and compliance details are on our compliance page.
What about CAM reconciliations and LIHTC files?
CAM reconciliations and LIHTC compliance files are add-ons, not part of this mode’s core skills. The core skills still cover what feeds them: abstracts that capture recovery terms, a budget that separates recoveries from bad debt, and a rent roll tied to billing. A tenant’s lease auditor will read the math, so verify the gross-up, caps and pro-rata shares against each lease before any statement goes out. The owner signs the filings the state agency receives.