What is a CAM Charge Audit, and who needs one?
Common-Area Maintenance (CAM) charges refer to the additional fees collected from tenants to cover the costs associated with operating, maintaining, and repairing those common areas such as parking lots, lobbies, hallways, elevators, and landscaping. Accordingly, CAM charge audits serve as a mechanism to maintain transparency and trust between property owners and tenants. They also provide an opportunity to address any discrepancies or concerns that may arise. When conducting a CAM charge audit, our goal is to ensure that the expenses billed to tenants are accurate, reasonable, and in compliance with the terms outlined in the lease agreements. During a CAM charge audit, we will typically:
If you are looking for an experienced team of auditors to conduct a CAM charge audit, look no further than Botwinick & Company, LLC.