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Outsourcing helps real estate businesses to cut back costs and unlock benefits that are otherwise looked over when you hire your own team in your space. In a business, it is always clever to find ways to enjoy finer things in a cost-effective way. The competition is always on the rise with all the great
CAM reconciliation in itself may not sound like a lot of work but keeping it organized is a little more complicated than it seems. The CAM charges differ from property to property, hence, there is no way to determine the charges and put out a specific rule on how they should be charged. The year-end
Every business functions systematically when there is proper management and organization. No matter the size of the business the owners and managers have their hands full which is why it’s advised to have an order in a company. Having too much on the plate automatically leads to overlooking certain tasks which increase workload and one
Lease administration is the management of the agreement in the real estate field. It includes administering all the tasks that are listed in the company’s lease portfolio. The tasks consist of various jobs like reporting, coordinating between stakeholders, managing documents, managing rent, and several administrative activities. Leases might vary from property to property; hence, every
Owning property includes a lot of legal work and it consists of both tangible and nontangible properties. In real estate, you will come across a vast complex heap of rules and processes. With so much in hand to manage mistakes are bound to happen but in a business like this, errors are expensive and one
Real estate is an asset-heavy business, which makes managing the business quite complex and tedious. Add to this, property managers are also tasked with managing property accounting, which could be increasingly challenging given the volume and type of portfolios. Poor property accounting is a huge liability resulting in error-riddled books with missed revenues, expenses, and
The commercial real estate industry is slowly gaining its strength back. As per a recent survey, 55% of commercial tenants are looking at prioritizing long-term leases (5years and more), while 65% of landlords are expecting their tenants to demand additional space. As the commercial real estate sector prepares for recovery and expansion, both tenants and
Common area maintenance (CAM) reconciliation is an annual process that forms an integral part of any commercial lease administration. It is critical for property managers, who are tasked with handling this task, to understand how the process progresses through the year and have clear visibility into the relevant data. CAM reconciliation is a complex, time-consuming
Common area maintenance cost (CAM) forms a big part of the commercial occupancy cost. CAM expenses are integral to any commercial leasing contract, and it benefits both tenants and the landlord. That said, tenants tend to have very little control over or visibility into the CAM expenses and it is the landlord who has the
Common area maintenance cost (CAM) forms a big part of the commercial leasing expense. It is often a source of stress and contention for tenants as CAM costs do not follow a set structure and there is a certain lack of transparency as to how they are calculated. While most tenants pay CAM expenses in