Tenantback · tenantback.com/guides/cam-overcharge-benchmarks

CAM reconciliation audit checklist

Run the checks in this order: each one changes the base for the next.

Property Year

Documents

Full lease with every amendment (later amendments win)
This year's reconciliation and last year's
General ledger detail or invoices for any line you cannot verify

Deadlines first

Objection or audit window in days, and what starts the clock
Notice address and delivery method the lease requires
Statement delivery deadline, and the date this statement arrived

1. Pool arithmetic

Line items add up to the stated pool
Share amount equals pool x stated share
Balance due equals total charges minus estimated payments

2. Pro-rata share

Lease share or premises SF / denominator SF
Denominator matches the lease definition (no dropped vacant or redeveloped space)
Share did not move from last year without a change to the premises

3. Exclusions

Capital items (roof, parking lot, HVAC, structural) excluded or amortized
Landlord overhead, leasing costs, marketing, legal fees with other tenants
Insurance deductibles, costs covered by warranties or insurance

4. Cap

Cap rate, cumulative or not, and the base year
Which costs the lease treats as uncontrollable
Allowed controllable CAM vs billed, after exclusions

5. Administrative fee

Rate matches the lease
Base excludes taxes, insurance (and utilities, if the lease says so)
Fee not charged on excluded or over-cap costs

6. Gross-up

Lease permits gross-up at all
Only variable costs grossed up
Actual occupancy below the lease threshold

Object in writing

Each item: lease section, statement line, corrected amount
Sent to the notice address before the window closes
Credit confirmed on the next statement

Formulas, typical lease terms and sources: tenantback.com/guides/cam-overcharge-benchmarks. General information, not legal advice; your lease controls. Free to share. Or email the lease and statement to audit@tenantback.com for a free automated check.