Objective The Client owns and operates a Portfolio comprised of numerous Office, Industrial and Retail Properties throughout the United States. They turned to SQFT KS to conduct review of CAM billing for all the leases. Challenge The project presented challenges in complexity, size and scope. Reports were from various database and the Lease documents for […]
Objective
The Client owns and operates a Portfolio comprised of numerous Office, Industrial and Retail Properties throughout the United States. They turned to SQFT KS to conduct review of CAM billing for all the leases.
Challenge
The project presented challenges in complexity, size and scope. Reports were from various database and the Lease documents for each location contained specific language outlining the Common Area Maintenance fees which could be passed on to the Tenant.
Solution
SQFT KS experienced Team has rich exposure in Annual CAM recon, performed thorough review of each Tenant’s CAM invoice. The goal of the comprehensive analysis was to determine which CAM charges were legitimately supported by the lease language as Tenant charges and which expenses weren’t.
Results
- Of the 1,200 CAM audits completed, SQFT KS uncovered mistakes in 300 Tenants; warranting sizable recoveries from hundreds to thousands of dollars. Many other Tenants had non-monetary errors as well.
- Audit Findings: USD 963,161.90