Accounting and Reporting

The following services address the accounting and financial activities related to effective commercial property management:

• Common Area Maintenance (CAM) or operations expense
• Developing an annual operating budget and monitoring variances
• Providing comprehensive monthly financial reports to property owners
• Calculating and invoicing operating expense recoveries
• Generating and processing monthly rent invoices
• Reconciling bank statements

How does Automatic Common Area Maintenance (CAM) Billing Saves Owners Money and Worries?

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In many commercial leases, in particular retail and industrial properties, Common Area Maintenance (CAM) fees are defined as additional rent per a tenant's lease and can be charged back to the tenants for maintaining the common areas including hallways, restrooms, shared walkways and parking lots. Without a sophisticated accounting & monitoring system, the billing could become complex because most of the costs involved are variable and the tenant's percentage could change depending on adjustments in square footage rented. A less than vigilant property owner could be leaving money on the table by not fully charging back these expenses to his/her tenants. Renters could seek claims against their landlords based upon alleged overcharging (if only to renegotiate rent). Photo on left is Brian Litzus, Lease Administrator

Westlake's automatic CAM billing ensures that tenants are accurately being charged their fair share of the CAM expense depending on their master leases or any amendments thereon. Our central office's lease administrator inputs the percentage share per tenant and the system automatically computes the billing. The administrator then verifies billing against the lease. There is no minimal room for error and documents are not passed on from one person to the next. One of the system's advantages is that it allows for both the tenant and owner to regularly receive Operating Expense forecast reports enabling them to plan their cash flow and budgets in advance.

Westlake's Commercial Property Management Services Include:

Operation

Tenant Relations

Leasing & Marketing

Risk Management & Insurance

Maintenance/ Tenant Improvement