Common Area Maintenance (CAM Fees) – What are They?Posted by Richard Soto on
Common Area Maintenance. What is it? By description, it refers to one of the three primary components of the operating expenses, alongside property taxes and insurance taxes. It is included in the so-called Triple Net Lease. These fees are collected by landlords from tenants in order to cover the expenses that are usually associated with operating and overhead operations for common areas.
These common areas refer to the spaces that are used by all tenants, including elevators, hallways, lobbies, parking lots, building security, and public bathrooms, among others. These CAM fees are typically stated in the lease in order to clear up any potential misunderstanding and to have a better insight about these expenses before a tenant signs up for a new…
872 Views, 0 Comments