All payments over $600 to one person needs to be reported on Form 1099.
All payments over $600 to one person needs to be reported on Form 1099.
keep common area clean
Yes, painting is part of common area maintenance. This is done in cases of people moving out of apartments and such.
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).
Add all expenses and divide by the GLA.
what are the different between room maintenance and maintenance of public area
what are the different between room maintenance and maintenance of public area
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.
CAM - Common Area Maintenance or CAM - Certified Administrative Manager
Gross Leasable Area (GLA) divided by Tenant Square Footage = CAM Make sure you multiply by 100 to get the actual percantage
what is houseman utility maintenance