Building Products Insights Webinar Replay

Traditionally, the majority of housing affordable to many families has come through “filtering” – as apartment homes grow older, they gradually become part of the “naturally occurring affordable housing.” Following the Great Recession and Global Financial Crisis, this process reversed as value-add investors rehabbed apartments into higher rent classes to make up for the lack of new construction.

Commercial leases often require tenants in a multi-tenant development (such as a shopping center or office building) to pay CAM charges in addition to monthly rent. These lease provisions often are misunderstood or taken for granted by landlords and tenants and, as a result, are frequently violated, knowingly or otherwise. Sophisticated tenants require CAM charges to be "actually paid or incurred" or "expended" by the landlord to be reimbursable, and they are careful to prohibit landlords from passing their overhead on as disguised CAM charges. To guard against this practice, tenants should negotiate (and then review) their leases carefully, require landlords to deliver "reasonably detailed statements" of CAM charges as often as the lease requires, and should scrutinize those statements to ensure that all charges are allowed by the lease. CAM charges often include property management fees. In addition, most leases permit the landlord to estimate CAM charges and force tenants to pay their share of those estimates monthly. Generally, they require the landlord to reconcile or justify the actual CAM charges to its tenant after the end of each year. Commercial landlords that also manage the project themselves often charge tenants, in addition to CAM expenses incurred, an arbitrary, "industry standard" percentage of the rent as "a property management fee," even though the lease does not expressly provide for that, and no third-party management fees are paid or incurred by the landlord. When the CAM charges are based on actual costs, a tenant might want to negotiate a cap on how much they will be required to pay for their share of common area maintenance. Putting a cap on CAM charges helps protect the tenant from their lease expenses increasing outside of their budget or sudden surprises at the beginning of the year. In turn, this adds some risk to the landlord to cover additional expenses themselves. With fixed CAM charges, property owners set a flat fee for common area maintenance and usually add small annual increases to that fee to cover the cost of inflation. Tenants may still want to review the property expenses to ensure their CAM charges aren't significantly higher than they should be. Fixed CAM charges can either apply to property taxes, insurance, and actual maintenance costs or only to maintenance costs while leaving the property taxes and insurance adjustable. Listen as our authoritative panel discusses the best practices in negotiating CAM provisions, what types of provisions to include, and when to choose between a capped or fixed cost CAM provision.

During this 30-minute webinar, you’ll learn: - Learn why using the right scripts will lead to more leads and contacts within HomeScout® - Train your buyers how to use HomeScout’s technology which will keep the buyer in full control as they search 100% of all MLS listing data - Understand the importance of early introductions to a Loan Officer even though they might not be ready to buy

Your telephone rings, you receive an email and/or a potential client drops by your office. They want you to perform a survey of their property, when can you come to the property and how much will it cost? You ask for the location of the property and their contact information. You thank them for giving you this opportunity to perform their land surveying services and began preparing a cost estimate for your land surveying services.