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Common Area Maintenance (CAM) audits play a crucial role in ensuring that tenants and landlords reconcile expenses accurately. These audits help ensure that commercial tenants only pay their fair share of costs and are not burdened with overcharges, incorrect expense allocations, or lease misinterpretations. With commercial real estate costs rising, businesses must be vigilant in
Introduction Common Area Maintenance (CAM) charges are a fundamental aspect of commercial lease agreements, ensuring shared spaces are maintained and operational costs are fairly distributed among tenants. However, 30% of CAM reconciliations contain errors, leading to financial discrepancies and disputes between landlords and tenants according to the Journal of Property Management. Professional CAM audit services
Introduction Common Area Maintenance (CAM) charges are a significant expense for tenants in commercial real estate. These charges cover shared property costs, including maintenance, security, landscaping, and utilities. While CAM fees are necessary to ensure a well-maintained property, many tenants end up overpaying due to errors, unclear lease terms, or improper expense allocations. According to
Efficient management of accounts receivable (AR) is crucial for maintaining optimal cash flow and operational agility in today’s competitive business landscape. Selecting the right AR services partner is pivotal, as it affects a company’s ability to convert receivables into cash swiftly, manage customer relationships effectively, and plan financial strategies accurately. At Springbord, we offer expert
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. Accurate data helps ensure compliance, provides insight into cost-saving opportunities, and supports better decision-making. The ability to easily extract this data from
Lease management can be a complex and time-consuming task for businesses of all sizes. From tracking lease agreements to managing rental payments and ensuring compliance, the process often involves numerous challenges. At Springbord, we understand the importance of streamlining lease management to enhance efficiency and reduce the risk of errors. In this article, we will
Real estate businesses frequently become overloaded with core responsibilities, leaving little room to manage accounts receivable efficiently. This critical function, essential for ensuring adequate funding, can be particularly challenging due to the industry’s complexity and the high volume of transactions. As a result, real estate companies face a strategic decision: should they manage accounts receivable
Lease management can be a complex and time-consuming task, often involving numerous documents, calculations, and interactions with tenants. Traditional manual methods not only drain valuable resources but also increase the risk of errors, legal complications, and missed opportunities. To overcome these challenges and ensure a seamless leasing process, it is essential to adopt best practices
Introduction In property management, precise bookkeeping is not just a necessity but a cornerstone of success. Accurate financial records ensure compliance, foster investor confidence, and facilitate informed decision-making. However, the complexities of managing multiple properties, tenants, and financial transactions can pose significant challenges. In this blog, we will delve into ten advanced bookkeeping practices essential
Although lease abstraction makes lease management easier, the extraction process is time-consuming and requires a thorough analysis of documents and an in-depth knowledge of finance leases. The Significance of Lease Abstraction for Real Estate Businesses The real estate market relies heavily on lease abstraction, a service that summarises key provisions of a lease agreement into