Create CAM Reconciliation Reports in Seconds

The exact repairs and maintenance costs are difficult to calculate ahead of time. Common Area Maintenance (CAM) charges are estimated at the beginning of the year and divided into monthly payments for each tenant. Actual CAM charges are calculated at year-end—if the total is more than the tenant paid, the tenant pays the difference. If the total is less, the landlord is responsible for reimbursing the tenant for the difference. 

CAM charges cover the cost of maintaining or repairing common areas shared by commercial tenants. This may include:

• Costs of cleaning lobbies, bathrooms, elevators, etc.
• Landscaping
• Snow removal
• Parking lot repairs and maintenance
• Security systems
• Trash pickup
• Other repairs, maintenance, or janitorial needs in common areas

The CAM reconciliation process starts with identifying the costs associated with your common area maintenance and separating overhead costs from your recovery costs. For example, utility expenses are an overhead expense. While the tenant isn’t responsible for covering the costs directly, the owner/manager should be reimbursed or able to recover those specific expenses from the tenant.

STRATAFOLIO connects to QuickBooks to map your expenses and see how each reimbursable expense tracks against every tenant’s actual expenses. When it’s time to do CAM reconciliations at the end of the year, you can quickly and easily pull a report and share it with your client to recover expenses.

STRATAFOLIO is an online web-based, secure, mobile-friendly software application service made for people who own, manage or lease real estate and use QuickBooks Online or QuickBooks Desktop as their accounting software.