Challenge
I am looking at Leasing new space for my business and it inlcudes the payment of CAM Fees. What are CAM Fees?
Solution
The term CAM refers to "Common Area Maintenance". Most NNN Leases (Triple Net) include the payment of CAM Fees. These are fees paid by tenants, usually of a multi-tenant buildings, that cover the cleaning and maintenance of shared areas such as lobbies, elevators, some utilities, parking lots and landscaping to name a few typical ones. The tenants portion of these fees are determined on a pro-rata share of the tenants lease space vs. the leasable area of the entire building.
You should read all leases very carefully to determine what is exactly covered within the CAM Fees. |
