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Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
A common example of this is the common area maintenance charges, or CAM, which includes cleaning and day-to-day expenses like changing lights. In US leases, it is common to group together CAM, property tax and insurance , in which case it is known as a "net-net-net" lease, or NNN lease , pronounced "triple-net".
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Lease audit involves different kind of proficiency: audit, law and real estate.Lease auditors need to have in-depth knowledge in general ledgers; assets and liabilities; realty tax assessment, real estate laws, leasing practice and more.
Real estate is property consisting of land and the buildings on it, along with its natural resources such as growing crops (e.g. timber), minerals or water, and wild animals; immovable property of this nature; an interest vested in this (also) an item of real property, (more generally) buildings or housing in general.
When I interviewed real estate investors and asked them about their origin story, a shocking percentage of them answered, "I became interested in real estate after reading the 'little purple bible'...
States vary in how they tax common areas, for real estate tax purposes. It may depend on whether it is a condo or a co-op. For example, the state of Arizona taxes "residential common areas" in housing developments with a flat tax, but common areas of condominiums and golf courses are assessed separately. [18]
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