By: Anton Systems, Inc.
A Florida-based preferred SKYLINE partner.
Here it is again – CAM reconciliation season. Management is waiting for accounting to finalize their numbers so they can get the reconciliation billings out. But commercial and retail management reconciliations are some of the more complicated to evaluate and finalize, with anchor specific on the retail side and gross up expenses on the office management side.
Why would you trust this to a spreadsheet that has not been updated for ages – and, even worse, was likely never optimized for CAM reconciliation purposes? Having a comprehensive management software feature that allows efficient processing of all CAM reconciliation is the key to finalizing reconciliations quickly and accurately. Using SKYLINE Property Management Software will minimize the time needed to complete this yearly process, allowing you more time for much-needed management of your properties.
SKYLINE has full-feature functionality that allows even the most intricate CAM calculations to be set up and billed from the moment the tenant takes occupancy. Imagine having a CAM clause where you need to reduce the three anchors in your building, plus the tenant has a cap. Or perhaps your leases read that you need to gross up your expense by an occupancy factor but the real estate tax is based on fair market value times the mill rate. With SKYLINE Escalation & Recovery, these calculations can easily be factored in to calculate the correct recovery each year.
Having this much-needed setup at the time of occupancy ensures that no reconciliation is missed. Tenant changes square footage mid-year? No problem. With recovery setup, this mid-year change, or move in or out, is quickly assessed and calculated for just the right square footage or number of days. There is no need to overwrite cells in a spreadsheet to allow the calculation to be correct, but then have the potential for next year’s calculation to be incorrect. Using this process will ensure correct calculations for the life of the lease.
SKYLINE Escalation & Recovery allows calculation of CPI and fixed rental increases at the touch of a button. This process can be run monthly, enabling all rent increases to be assessed, billed and sent to the tenants in a timely fashion – which in turn means the correct amount of rents will come into the property and positive cash flow is assued.
Escalation & Recovery is not just for the commercial or retail side of our industry. This powerful tool can also be used for condominium, HOA and even residential bill-back or utility expense. Now is the time to implement this effective tool.