As property managers/owners you are required to prepare common area maintenance (CAM) reconciliation statements in order to recover charges for maintenance costs under a lease. But, CAM reconciliations can be complex, cumbersome and time-consuming process, leading to accounting errors and possibly you leaving money on the table.
Whether it’s for retail, office or industrial properties, Springbord offers year-end CAM reconciliation services that enables you to recover your expenses quickly and efficiently. Our team of experts bring high degree of financial acumen and technical expertise, enabling them to accurately allocate recoverable expenses across tenants, maximizing receivables and in turn profitability, while ensuring lease compliance. Our CAM reconciliation services include:
- Evaluating general ledger of the property for allowable vis-à-vis non-escalable expenses
- Reviewing each tenant lease to identify provisions for expense escalation
- Calculating gross-ups wherever applicable and other relevant adjustments to maximize receivables for the year
- Generating year-end CAM reconciliation tenant billings as well as current year estimated CAM tenant billings
- Fully documenting in an annual CAM reconciliation notebook to ensure complete transparency for audit and future reference
- Providing complete support if any tenant audits their billings