Common Area Maintenance (CAM) – Don’t overburden your team
Common Area Maintenance (CAM)
Common Area Maintenance (CAM) is a major activity in Lease Administration. If it is not done properly it will overburden you and your team. Throughout the year Tenants are billed for their share of budgeted expenses. Estimates are made for all recoverable expenses towards managing, operating, maintaining and repairing the building and include HVAC, plumbing, management salaries, elevator, landscape management so on and so forth and billed to the Tenant every month. .
Though CAM is billed throughout the year March and April are key for CAM Reconciliation. The actual CAM expenses are reconciled for previous year expenses and the tenant’s share is reconciled for their share of actual expenses. Based on this the CAM service company send the Tenants an invoice for the amount owed or due.
With a proven methodology and world-class experience in CAM modules of the major real estate accounting systems, Sybrant helps many leading property owners and operators recover more of their expenses faster. Our professionals correctly apportion all recoverable expenses across participating tenants, ensuring full lease compliance.
Sybrant has been in the forefront offering Lease Administration services including CAM Reconciliation and Lease Abstraction services to Property Owners and Property Management companies in the US and across the globe. Our team has great understanding of the Property Management business and have been working with large clients managing several properties across multiple locations. We provide the necessary expertise and scalable staffing to complete your year-end CAM expense reconciliations at the earliest, which increases the collectability of expenses.
While performing we ensure the following are taken care of:
- All CAM costs are captured
- No arithmetic mistakes are made
- Capital enhancement expenses are not included in the CAM expenses
- Dates are not overlooked when deadlines are concerned
- All payments are credited and
- Timely notices are given
Our CAM Reconciliation Process
Our CAM reconciliation process takes care of all the critical points as per the lease agreement relating to collecting CAM charges. We will perform the CAM reconciliation based on the client provided previous year reconciliation spreadsheet, GL expenses, lease documents and any other financial documents. We will create CAM reconciliation spreadsheet and capture discrepancies with previous year reconciliation spreadsheet and lease documents.
Our CAM services allow businesses to::
- Complete end of the year reconciliation earlier
- Higher recovery ratios
- Increase response time to tenant claims
- Better access to all the data to answer tenant queries
- Improve tenant relationships
- Reduce receivables recovery time;