Property Management
In a Massachusetts commercial lease, the 'CAM charges' refer to:
ACamera and monitoring system costs passed to tenants
BCommon Area Maintenance charges — tenant's pro-rata share of costs to maintain common areas✓ Correct
CConstruction and maintenance fees for capital improvements
DCommercial agent management costs
Explanation
CAM (Common Area Maintenance) charges are a tenant's proportionate share of costs to operate and maintain common areas such as lobbies, parking lots, hallways, and landscaping in a commercial building.
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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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