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Category: Real Estate
The US Law defines CAM charges as the expense that a tenant is expected to pay up on a pro-rata basis towards the annual maintenance, repair and operation of common utility areas, as incurred by the landlord / property owner. In the real scenario, CAM charges are basically whatever the landlord has mentioned in the
Real estate players are increasingly installing lease administration and accounting software. Given the stringent compliance mandate by International Accounting Standards Board (IASB) and the US Financial Accounting Standards Board (FASB), expansive portfolios and complex nature of transactions, software applications have become rather mainstream. While some prefer to go for a single vendor approach for both
Commercial real estate can be a very lucrative business but managing it is a different ball game altogether. All things considered, commercial property management can be tedious, complex and extremely time-consuming. It is a demanding process and if not done well can negatively impact business. Hiring a property management can help run operations smoothly, but
Lease abstraction is one of the key and fundamental part of commercial real estate industry. As you are aware, lease abstracts are summary of most important details of a lease presented in an easy-to-read format. It allows commercial real estate property owners to stay on top of key data points across their lease portfolio –
Common Area Maintenance (CAM) and other operating expenses are carefully defined and included in the lease. While these clauses clearly outline the tenant expenses, more often than not real estate owners end up losing money due to incorrect reconciliation. Inaccurate CAM reconciliations can result in losses that can run up to tens of thousands of
Lease administration is a commonly used term, even though it is rarely understood in its entirety. As commercial property managers/owners you realize that managing leases is an integral part of your company’s operations. And lease administration is not a one-time task, rather it is a continuous process that allows you to manage and ensure all
Property management is key for commercial real estate portfolios. As a property owner/manager you understand that property management, while exciting, has a potential to hurt business if you put a foot wrong. Moreover, as you continue to scale your portfolio, the process of managing properties effectively and efficiently tend to become more complex and time
The real estate industry contributes $3.5 trillion to the US GDP. While the industry is the largest asset class sector in the world, it has been relatively slow in embracing technology. However, disruptive trends are compelling players to go beyond conventional operations and strategies to drive profitability and provide better customer service experiences. We all
Real estate companies are increasingly adopting the process of lease abstraction that allows them to summarize essential business, legal and financial terms and conditions. A summary of key lease provisions makes it easy to locate and access information as per business requirement. However, the volume and complexities of commercial real estate leases can make the
When you have a business that’s growing and expanding. The temptation to have your own office is strong at this stage and you want to lease your office space. However, it is important to be aware of the many pitfalls that most businesses owners make when leasing for the first time. Prioritize Budget and Function