June 23, 2025
By Pui Wong
In real estate, especially as owner-operators, we spend a lot of time reviewing lease agreements, both for residential and retail properties. One of the biggest challenges we face is the legal cost of preparing or reviewing leases. For a typical retail lease with standard terms, legal fees can run into the tens of thousands of dollars.
This might be manageable for large firms, but for small landlords, many of whom own fewer than 10 units, these costs can be a major burden. In New York, it’s estimated that 30% to 50% of landlords fall into this “mom and pop” category. They still need strong legal protection, but the cost of getting it is an exorbitant expense.
We brought this challenge to a team of computer science engineers at Cornell University. We shared some common frustrations and started brainstorming and iterating solutions.
The result is AIREX, a platform created by CCG that uses machine learning and data from millions of real estate transactions to help landlords and investors manage leases more efficiently. AIREX helps generate and review lease documents, flag risks, and provide guidance, all at a fraction of the traditional legal cost.
The platform is designed specifically for small and mid-sized landlords, investors, and property managers who often don’t have in-house legal teams. It’s easy to use, provides tailored lease analysis, and adapts to different property types and local laws. With AIREX, users can save time, reduce costs, and make better decisions.
We’re currently in beta and looking for users to test the platform and share feedback.
To sign up to be a beta user, go to AIREX.
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