What is included in “Gross Receipts” to calculate management fees?
Gross receipts include rents, CAM, property tax, security deposits that are applied to past due rents and/or CAMs, and late fees.
What are “pass-through expenses”?
Pass-through expenses include real estate taxes, maintenance, repairs, trash removal, and costs of building improvements.
What is included in “other income”?
Other income would be any combination of the above referenced, CAM, property tax, security deposits that are applied to past due rents and/or CAM’s, late fees, maintenance, repairs, trash removal, and costs of building improvements.
What is “CAM”?
Common Area Maintenance expenses would be for the common areas that two or more tenants share, e.g. garden, trash area, courtyard, parking lot, etc.
What is “miscellaneous income”?
Miscellaneous income includes but is not limited to locksmiths, late fees, and all reimbursed tenant expenses.
