CAM Cost Solutions
Please read below for a description of the services we offer. If you like more information, feel free to contact us.
Lease Compliance Audits
Both desktop and field lease compliance audits are available. The process includes a detailed review of all lease related documents, billings received from the landlord, securing detailed supporting documentation for all charges, utility load studies, insurance allocation analyses, and other lease and property specific requirements. While each lease and property is unique, over the past 20 years the average identified overcharges have exceeded 30%.
Property Tax Appeals
Traditional lease compliance audits, whether desktop or field audits, have to be expanded to include a forensic examination of the underlying supporting documentation. In many situations, CAM Cost Solutions has discovered intentionally inaccurate billings that could not have been discovered solely by a review of the supporting documentation that was provided. We look beyond the documentation ..... because, unfortunately, we have to.
Lease Abstraction Services
CAM Cost Solutions provides both real and personal property tax appeal services. Expert representation through this very important process is essential. Our legal and finance staff assist our clients in evaluating the need for property tax appeals. Our hands-on involvement throughout the process allows our clients to realize superior results
It is of critical importance that the lease abstracts maintained by tenants be customized so that the critical lease language is accurately reflected and conveniently available.
Lease abstracts must be prepared by professionals with the ability to summarize legal language and understand the financial impact of the lease language. Too often, negotiated terms are not properly reflected.
In addition, there should be periodic updates of all lease abstracts to ensure that all current circumstances are properly reflected.
Tax Increment Financing Audits
Detailed financial and compliance audits are performed relating to Tax Increment Financing (TIF) districts on behalf of governmental units to determine if the TIF district(s) has operated in accordance with approved plans.
CAM Billing Models
In most situations, after a lease is negotiated by the attorneys and real estate department, the finance and accounting departments are simply handed a complex legal document.
CAM Cost Solutions has developed a program that produces sample CAM reconciliations that the finance and accounting departments can use as a resource when reviewing reconciliations received from the landlord. This system supplements and enhances traditional lease abstracts that do not give the proper guidance to those responsible for reviewing landlord billings.
These models can also be expanded to produce projected landlord billings for future years that allow for more accurate forecasting.