Property Management
What is a 'CAM charge' in a commercial lease?
AComputer-aided marketing fee
BCommon Area Maintenance charge paid by tenants for their proportionate share of maintaining shared areas✓ Correct
CA fee for property management software
DCapital asset management charge
Explanation
CAM (Common Area Maintenance) charges are fees paid by commercial tenants for their proportionate share of maintaining common areas such as lobbies, parking lots, and landscaping, in addition to their base rent.
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Key Terms to Know
Earnest Money
A 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.
Option ContractA contract giving the buyer the right, but not the obligation, to purchase a property at a specified price within a specified time period.
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