Approved for 1 CE Hour for MI Real Estate/Brokers License
Qualified for 1 BOMI CPD Check your CE Credits

Sponsored by:  

Common Area Maintenance (CAM) Reconciliations 201

NEW & VETERAN PROPERTY PROFESSIONALS

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


DATE: Tuesday, October 29, 2019  add to calendar
 

LOCATION: Guardian Building, 500 Griswold, 6th Floor, Detroit, MI  48226
TIME: Noon - 1:00 pm - sign in at 11:45

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BOMA Members/Staff & Guests - Lunch provided $25.00
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