CAM Reconciliation Statement Explained

If you are a Commercial Real Estate property owner or manager then most likely you are familiar with the CAM Reconciliation process. We’ve discussed it in some detail in our prior articles: CAM Reconciliation and CAM Charges: How to Manage Them and CAM Reconciliation. In this article, we’ll break down the CAM Reconciliation Statement and explain the various sections contained in it.
We’ve broken down the statement into seven parts. Lets dig down into each one and explain the meaning behind it.
1. Tenant Information
The tenant information section contains the Landlord and Tenant Names. The section also contains information of the total property size and tenant’s space size. Tenant’s pro-rata share is what drives most of the calculations on the CAM Reconciliation Statement.
2. Annual Property Expenses
This section represents the actual property expenses for the selected calendar year. The expenses are grouped by category. An addition, they are separated by three main groups which are Common Area Maintenance or CAM, Real Estate Taxes and Insurance.
3. Tenant Dues/Escrow
The tenant dues/escrow section displays what the Tenant’s annual share of CAM, Taxes and Insurance are based on Tenant’s pro-rata share as well as the actual expenses. The calculations in this section takes into account Tenant’s pro-rata share as well as the properties annual expenses. This section also groups by CAM, Real Estate Taxes and Insurance.
4. Deductions
The deductions column on the Annual Property Expenses section displays any specific deductions the tenant has under their Lease. Certain Commercial Real Estate Lease provide for caps, limits or exclusions on certain categories. Its not uncommon for a Tenant to exclude Management Fees or limit Repairs or Capital Improvements. These exclusions and limits are defined in the lease and can be set up in UnitConnect under the Rent Details page. The total property expenses are then adjusted while taking all deductions for the tenant into consideration.
5. Escrow
The Tenant escrow column in the Tenant Escrow/Dues section of the report shows how much the Landlord or Manager has collected from Tenant for the given calendar year. Based on majority of the Leases, many tenants pay an estimated amount of CAM, Tax and Insurance monthly on top of their Base Rent. The amount collected during the year is considered an escrow. The escrow amounts are also summarized based on the group.
6. Balance
The Tenant balance is a simple calculation of what the tenant owes minus what the tenant has in escrow. The balances are summarized by group.
7. Tenant Share
The Tenant share is the calculation of Tenant’s share of Annual expenses for Common Area Maintenance, Taxes and Insurance. The total expenses are multiplied by Tenant’s pro-rata share.
A sample report provided by UnitConnect
In summary, the CAM reconciliation statement is something that should be provided to your tenant on an annual basis. Many Leases actually require Landlord or Property manager to submit a CAM Reconciliation Statement to the Tenant within a certain period. Providing a concise and a very easy to follow report alleviates a lot of headaches and delays for payment. Furthermore, having this information readily available in UnitConnect typically eliminates countless hours of putting together this report. Running a report for the entire property takes only a few clicks!
Give UnitConnect a try and see how easy it really is to generate CAM Reconciliation Statement.
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