Search results
Results From The WOW.Com Content Network
Common area maintenance charges ( CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property.
Common area. A common area is, in real estate or real property law, the "area which is available for use by more than one person..." [ 1] The common areas are those that are available for common use by all tenants, (or) groups of tenants and their invitees. [ 2][ 3] In Texas and other parts of the United States, it is "An area inside a housing ...
Recoverable expense. In commercial real estate, recoverable expenses are those expenses of running a property that are billed back to the tenants as a form of additional rent. A simple example is the electricity bill for a large complex that is then divided up among the tenants. Water, natural gas, cleaning and other operating expenses are ...
Assessed value: The value of real estate property as determined by an assessor, typically from the county. "As-is": A contract or listing clause stating that the seller will not repair or correct ...
Business administration. Property management is the operation, control, maintenance, and oversight of real estate and physical property. This can include residential, commercial, and land real estate. Management indicates the need for real estate to be cared for and monitored, with accountability for and attention to its useful life and condition.
Seasoned real estate attorney and owner of Grenier Law Corp., David Greiner, Esq. said, “The investors best suited for commercial real estate understand the local market and can properly assess ...
A triple net lease (triple-Net or NNN) is a lease agreement on a property where the tenant or lessee agrees to pay all real estate taxes, building insurance, and maintenance (the three "nets") on the property in addition to any normal fees that are expected under the agreement (rent, utilities, etc.). In such a lease, the tenant or lessee is ...
The commercial real estate market is still reeling from the aftermath of the pandemic—and 2023 was a particularly bad year for the sector. Last fall, Julie Whelan, CBRE’s global head of ...