0
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).
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
Common Area Maintenance letter to tenants?
keep common area clean
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 does Cam stand for in a Commercial Lease field?
Common Area Maintenance
What are some mortgage insurance companies?
There are lots of different mortgage insurance companies, and most vary from area to area. Some of the more common ones include CMG, RMIC, and United Guarantee.
Can a limited common area be in an owners unit?
Read your governing documents to determine whether the interior of an owner's unit is included within the definition of limited common area for your property. Typically, limited common areas serve some -- even one, but not all -- owners. The association retains duty for maintenance, preservation and protection of this area. Examples may be dedicated stairways, decks/ patios, enclosed garages and so forth.
What is the procedure to calculate Common Area Maintenance charges?
Add all expenses and divide by the GLA.
What are Differences between room maintenance and maintenance of public area?
what are the different between room maintenance and maintenance of public area
What are the difference between room maintenance and maintenance of public area?
what are the different between room maintenance and maintenance of public area
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 does cam mean in real estate terms?
CAM - Common Area Maintenance or CAM - Certified Administrative Manager
What are the home mortgage rates in Chicago?
The home mortgage rates in Chicago vary from area to area and are dependent upon the type of home you are thinking of owning or already own. You can contact a mortgage representative to learn more about home mortgage rates in your specific area.
Thoroughly Read The Terms Of A Commercial Lease?
Before signing a commercial lease, one must ensure that they read through the lease and understands the terms of the lease. One must determine what exactly is included in the rent. One must ask if the rent per square foot, which is typically what is advertised, includes the common area maintenance. Common area maintenance includes the expense for maintaining common areas such as walkways, grass areas, foyers, waiting areas, hallways, bathrooms and so forth. If one determines what exactly is included in the rent per square foot, there will be fewer surprises in the future. Determine if there are any hidden charges or incidental charges that may not be prominently placed within the commercial lease agreement.
