Property Management
What is a 'CAM charge' in commercial property management?
AA Certificate of Asset Management fee
BA Common Area Maintenance charge paid by tenants to cover shared costs of maintaining common areas✓ Correct
CA security camera installation fee
DA commercial appraisal and maintenance fee
Explanation
CAM (Common Area Maintenance) charges are fees paid by commercial tenants (typically in shopping centers and office buildings) to cover their proportionate share of costs for maintaining common areas such as parking lots, lobbies, hallways, and landscaping.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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