We've written about common area maintenance in the past. And for good reason. Vague line items like "administrative fees" can be thousands of dollars, sometimes hundreds of thousands or more. That's one reason you audit past CAM charges, especially where you've taken over a business. In other situations involving CAM, the property owner's estimates are off - by huge margins - and the tenant is hit with a massive bill.
Last month we talked about common area maintenance and the wildly fluctuating fees property owners charge tenants in some cases. Fees for CAM, as the name suggests, go toward the maintenance of common areas, like parking lots. A given tenant's CAM costs principally depend on the amount of rented square footage, but the property owner has a lot of discretion in determining CAM costs. In other words, tenants should double-check that they aren't being over-charged.
The title of this post is a cheeky reference to acclaimed fiction writer Raymond Carver, who died in 1988, and his 1981 short story collection What We Talk About When We Talk About Love. Many of Carver's stories are populated with "regular" characters facing workaday circumstances, like the fraught relationship between a husband and wife.
Nothing better represents the American dream than turning a great idea into a business and being your own boss. However, starting a business is not without its risks. A crucial component of starting a business is leasing a commercial property that provides you the right space for your new venture. For many, a commercial lease will be a significant expense. It is no exaggeration to say that the terms of the lease can go a long way toward making or breaking the financial viability of their business.
As a new business owner, you are probably excited to finally get started offering your product or service to consumers in your area. You may have even found the perfect location for your new company and talked to the landlord about leasing space in their development.