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What is the Formula for common area maintenance?
Gross Leasable Area (GLA) divided by Tenant Square Footage = CAM Make sure you multiply by 100 to get the actual percantage
Is mortgage included in common area maintenance?
The mortgage is not included in the Common Area Maintenance. Common Area Maintenance (CAM) expense is considered the expense for taxes, insurance and maintenance and operation of the Common Areas of a property including but not limited to, shared utilities, community lighting, parking lot repairs, landscaping, etc. A mortgage is not considered an operations expense. Leases will usually specify what constitutes CAM charges reimbursable by the tenant (lessee) to the owner (lessor).
What does cam stand for in real estate?
CAM is an abbreviation that stands for Common Area Maintenance and is most frequently associated with multi-tenant commercial properties.
What fees count as common area maintenance fees?
Amounts charged to tenants for expenses to maintain hallways, restrooms, parking lots, and other http://www.answers.com/topic/common-areas.Example: In a regional mall, the cost of utilities needed to heat, cool, light, and clean the common areas was allocated to each tenant as common area maintenance, charged back to tenants.
What is a net lease?
Triple net leaseA triple net lease (Net-Net-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three 'Nets') on the property in addition to any normal fees that are expected under the agreement (rent, etc.). In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area.
Common Area Maintenance letter to tenants?
keep common area clean
How do you calculate the leasable area for an office?
I have to find the Gross leasable area for an office tenant who shares common elements with an ajacent office Tenant. What is the calculation.
Is painting part of common area maintenance?
Yes, painting is part of common area maintenance. This is done in cases of people moving out of apartments and such.
What is difference between NNN lease and gross lease?
In a NNN lease the tenant (person leasing the property) is liable for the taxes, insurance, and CAM (Common Area Maintenance) expenses. In a Gross Lease, the tenant pays a fixed amount of rent to the Landlord and has no other expenses to pay.
What does Cam stand for in a Commercial Lease field?
Common Area Maintenance
What is the procedure to calculate Common Area Maintenance charges?
Add all expenses and divide by the GLA.
What is a Trespass by a Tenant?
A trespass by a tenant would occur if the tenant entered an area they had no right to enter such as another tenant's unit, garage or storage space.
