Video

  • 10 minutes

CAM Caps, Landlord Collection of CAM Charges, Tenant's Audit Rights, and Who Pays HVAC Charges

 
Sophisticated tenants attempt to limit increases in CAM year over year. Typically, such limitation is based on a percentage (i.e. operating expense cannot increase more than 3% over the preceding year). The cap often excludes non-controllable expenses, such as taxes, insurance costs, and utilities. The cap can be determined on a cumulative and non-cumulative basis.

Landlord CAM charges are typically estimated and paid monthly in advance. Early in each lease year, new estimates should be provided.

When it comes to tenant’s audit rights, tenants have a legitimate interest in being able to verify the charges being passed through to the tenant.

In this 9-minute video our speaker, Marc. H. Goldsmith, reviews all of this as well as who pays HVAC charges from the landlord and tenant perspectives.

Marc H. Goldsmith, Counsel with McGuireWoods LLP’s Los Angeles, CA office. His practice focuses on commercial leasing and commercial real property purchase and sale transactions, as well as condominium law. He is responsible for negotiating, drafting and reviewing various real estate contracts for retail, office and industrial uses, including leases, purchase/sale agreements, easements, licenses, deeds of trust, subordination agreements, and amendments. Mr. Goldsmith serves as general corporate counsel to numerous nonprofit homeowners associations, business and mixed-use condominium associations, timeshare associations, and for profit entities.
Runtime: 9 minutes

Faculty

Marc H. Goldsmith

Marc H. Goldsmith

The Law Offices of Marc H. Goldsmith

Agenda

Faculty

Marc H. Goldsmith

Marc H. Goldsmith

The Law Offices of Marc H. Goldsmith

  • Counsel with McGuireWoods LLP’s Los Angeles, CA office
  • Practice focuses on commercial leasing and commercial real property purchase and sale transactions, as well as condominium law
  • Responsible for negotiating, drafting and reviewing various real estate contracts for retail, office and industrial uses, including leases, purchase/sale agreements, easements, licenses, deeds of trust, subordination agreements, and amendments
  • On behalf of national retailers, he has negotiated and closed many retail lease transactions for stores of all sizes
  • Handled hundreds of leases, licenses and easements for telecommunications sites throughout the western United States
  • Serves as general corporate counsel to numerous nonprofit homeowners associations, business and mixed-use condominium associations, timeshare associations, and for profit entities
  • Can be contacted at [email protected]

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