Common Area Maintenance (CAM) charges are fees that commercial tenants pay in addition to their base rent to cover the costs of maintaining common areas of a building, such as lobbies, elevators, and restrooms. These charges are often found in multi-tenant commercial properties, such as shopping centers, office buildings, and industrial parks. As a commercial
To run a profitable business, managing the performance of employees is all crucial, but so is keeping expenses in check. It’s not surprising that this causes many businesses to put off properly managing their leases, as they often fail to account for other costs associated with the lease agreement besides the rent. Basics of CAM
Lease validation services are an essential tool for any property management company looking to ensure that their lease agreements are legal and enforceable. These services help to verify the terms and conditions of a lease, as well as to identify any potential issues or areas of concern that may need to be addressed. In this
Lease administration is managing and monitoring commercial leases from the time they are signed until they expire. It is a critical aspect of real estate management, as it helps to uncover hidden costs in leases, which can ultimately impact a business’s bottom line. In this blog post, we will discuss four key areas where lease
An NNN lease, also known as a triple net lease, is a form of commercial real estate leasing in which the tenant or lessee is responsible for all of the property’s operating costs. Along with rent and utilities, this sum also accounts for property taxes, insurance, and maintenance. Tenants have complete transparency regarding their monthly
While trying to maximize profits and add value through lease restructuring and management, retailers must contend with several difficult challenges due to the market’s volatility and uncertainty. Companies can help leasing companies and lessees make more profitable decisions with the help of better data management when they have access to the right tools and processes.
Lessees’ financial statements will undergo significant modifications as a result of the FASB’s ASC 842 lease accounting standard change. Lessees will also be required to make some adjustments to their books to accommodate the new revenue recognition standard and other shifts in the model. Due to the complexity of the regulations and the difficulties in
The administration of leases is crucial to the effective management of lease portfolios and the achievement of maximum returns. Despite the stakes, most property management firms have difficulty instituting streamlined lease administration. In this way, even very little mistakes can have a major effect on a company’s bottom line, costing them big bucks. To keep
There’s a lot of rationale for the surge in the popularity of lease abstraction. Faster access to all relevant lease details improves portfolio visibility, facilitates educated decision-making, and streamlines the management of both time and leases. Legal and financial risk can also be mitigated by facilitating timely compliance and accounting. When done correctly, lease abstraction
The term “virtual reality” refers to the use of computer technology to generate a realistic, interactive, and immersive simulation of a three-dimensional scene or object. Virtual reality (VR) lets people have an experience that can either be exactly like real life or completely different. The use of virtual reality (VR) in real estate advertising has