Property Management
A Tennessee commercial property manager collecting CAM charges must maintain detailed records of:
AOnly the tenants' financial statements
BAll common area maintenance expenses and how charges are allocated among tenants✓ Correct
COnly charges that exceed $5,000 per year
DOnly HVAC and structural repair costs
Explanation
Proper management of CAM charges requires detailed record-keeping of all eligible expenses, the method of allocating costs among tenants (typically by percentage of leased space), and annual reconciliations. Tenants may have audit rights for CAM charges under their leases.
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