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Leasing a commercial space? - Here's what you need to know

Monday, August 12, 2019 | By Dominique Harris
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CAM, I know what you are thinking….boring! If you are interested in leasing commercial space, here’s a smidgen of information to get you started. 

When it comes to leasing commercial space, you inevitably pay for more than the actual square footage you occupy. These additional fees are referred to as Common Area Maintenance fees (CAM), and they cover the operation, repair, and maintenance of the property’s shared spaces. 

How do you calculate your share of the CAM? Your contribution is based on the square footage of your space versus the building on a whole. It is usually paid monthly in addition to your rent and can increase over the term of your lease. For some, this may be hard to swallow, but think about it this way, everyone enjoys a well-maintained building while equally contributing. No Muss, No Fuss!  Everyone pays their part and reaps the benefit.

You may be wondering what expenses can be passed on to you as the tenant. Depending on the property type, this will include things such as general repairs and maintenance, security, insurance, property tax, janitorial, landscaping, etc. These costs can vary widely between properties. 

It’s always important to ask the right questions before making an investment. If you need help knowing what the right questions are, contact me and let’s have a chat.

  

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