What ARE Common Area Expenses?
Common Area Expenses, or commonly known as Common Area Maintenance (CAM) fees are what landlords collect from tenants to cover the expenses for maintaining common areas. These apply to commercial and industrial properties like shopping centers.
CAM fees must be clearly listed and outlined in the rental agreement. If you’re not collecting CAM fees from tenants and would like to, contact us to help you more efficiently manage your property!
If you are a landlord of a commercial space, you can receive money for the maintenance of things like:
- Parking lot
- Hallways
- Elevators
- Restrooms
- Lobbies or Entrances
- Landscaping
- Snow Removal
- Security Systems
- Legal Fees
- General Overhead Expenses
- Plumbing + Electrical
- And more