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Category: Real Estate
Annual common area maintenance (CAM) reconciliation is one of the most tedious processes that is notoriously error prone. Despite the fact it is also one of the processes that is often overlooked by commercial property owners, resulting in errors in reconciliation that over time results in thousands of dollars in losses. Reconciling CAM expenses against
Both commercial real estate owners and property management companies are required to focus on several aspects to keep the business afloat. From managing lease portfolios, listings, finances, administration to other scaling business requirements, industry players are swarmed with conflicting priorities. Sure, success in real estate depends on property sales and marketing and efficient management of
Commercial real estate is one of the worst hit industries in the wake of the pandemic. As work from home continues, with some companies opting to adopt that policy as a new way of working, many offices are actively reducing their infrastructure footprints. This is helping companies to save cost and optimize returns. According to
Commercial lease tenants are required to pay common Area Maintenance (CAM) charges are towards the maintenance of usable common areas within the property. It is typically calculated as the tenant’s pro-rata share of the operating expense. While CAM expenses are important for the upkeep of the property which is mutually beneficial for both tenant and
Common area maintenance (CAM) expenses are a standard and key part of any commercial lease that helps cover the operating expenses These charges are calculated on a pro-rata basis and passed on to the tenants. That said, despite its importance in the upkeep of a property, the lack of a unified template for reconciling CAM
Whether it is lease management, lease accounting or common area maintenance (CAM) reconciliation, one thing that is crucial in order to efficiently manage these processes is access to accurate and relevant lease data. The convenience of having lease abstracted in user-friendly formats that is easy to access and understand is simply unparalleled in this market.
Lease administration plays a key role in efficiently managing lease portfolios and driving maximum returns. However, despite the high stakes most real estate companies, struggle to streamline lease administration. As a result, even minor errors end up impacting business significantly with companies running into hundreds of thousands of dollars in loss. Financial and operational risks
To run a successful business, management needs to continually focus on maximizing sales, streamlining operations, managing employee performance, all the while ensuring cost of doing business is contained. It should not come as a surprise that often lease management therefore takes a back seat, where businesses tend to overlook expenses related to lease apart from
Managing large property portfolios entail a range of tasks that can make property management complex and tedious. Add to that, monthly property accounting and financial reporting can further compound these challenges. With so much at stake, real estate owners and property management companies are increasingly adopting outsourcing as their go-to-strategy for property accounting services to
Common area maintenance (CAM) is one of the most contentious clauses in a commercial lease contract. Tenants are mostly on guard regarding the expenses charged under CAM costs. As such the process of reconciling these expenses demand time, meticulous attention, and a thorough understanding of the clause and the type of expenses that can be