Lease and location management proptech company Leasecake, which landed $12 million in Series A funding last year, announced a new product it calls Cakebot. Using large language model AI technology, Cakebot is supposed to help companies better understand real estate leases.

Here is an example the company sent to GlobeSt.com. First, the clause as written:

"Tenant's financial obligations encompass a proportionate allocation of Common Area Maintenance (CAM) charges, encompassing expenses germane to the administration, maintenance, remediation, and enhancement of communal spaces within the property. CAM charges encompass, though are not limited to, expenses linked to landscaping, parking facility maintenance, security provision, illumination, signage installation, refuse disposal, and property oversight charges. The quantum of Tenant's CAM contribution shall be determined by deriving the ratio of the leased premises' rentable area to the aggregate leasable area of the property. Tenant's CAM disbursements shall be tendered on a monthly basis in advance, and Landlord shall supply an annual reconciliation of the actual CAM expenditures against the precomputed payments. Discrepancies shall be duly adjusted, resulting in corresponding invoicing or crediting of Tenant."