The budget is more than just a tool to manage a building, it is a road map that has to be navigated, and often rerouted mid-course when unexpected issues at a property arise. Every tenant lease is unique and costs are variable; amendments can change them from year to year, increasing or decreasing costs throughout the term of the lease. Although the reconciliation process can be somewhat labor intensive, having a deep understanding of the terms of each lease can result in realizing the full profit potential of the property.
Lynnette Boyle and Steve Bentley, CFO will provide a comprehensive overview of how budgets relate to CAM operating expense estimates and reconciliations. In addition, the session will focus on strategies owners take in setting up varying CAM pools at a property and the amortization of long-term capital projects designed to lower operating expenses.
Attendees will learn:
- Why gross ups and occupancy matter and how the booking of expenses reflect upon an asset’s profitability and potential
- How CAM/OPE is derived from the operating budget
- CAM pools, Base Years, and their relationship to the lease
- Estimates vs reconciliations and Capital Expenses that Qualify
as a pass-through
LOCATION: Guardian Building, 500 Griswold, 6th Floor, Detroit, MI 48226
TIME: Noon - 1:00 pm - sign in at 11:45