Question 1

What is CapVeri?

Accepted Answer

CapVeri is a CAM (Common Area Maintenance) reconciliation platform built for commercial landlords. We check your gross-up factors, cap calculations, base year normalization, and pro-rata shares against your actual lease terms — then show you where you've been undercharging tenants. Every calculation follows BOMA 2024 standards and produces a full audit trail.

Question 2

How does the free revenue audit work?

Accepted Answer

Export your GL data from whatever property management system you use — Yardi, MRI, AppFolio, or anything else — and upload the file. Our engine calculates topline variance for your first free audit. Upgrade to unlock full draft report review and downloads. One building, no credit card, results in minutes.

Question 3

What file formats do you accept?

Accepted Answer

CSV and Excel (.xlsx) exports from any property management system. We have optimized parsers for Yardi Voyager and MRI Software, but any standard GL export works. No special formatting required — upload what you already have.

Question 4

How long does setup take?

Accepted Answer

Under 10 minutes. There's no implementation project, no IT involvement, no API configuration. Export a file from your ERP, upload it, and you're running your first reconciliation. Most users see results the same day they sign up.

Question 5

Who is CapVeri built for?

Accepted Answer

Property controllers, asset managers, CFOs, and property accountants at commercial landlord organizations managing office, retail, or industrial buildings. If you're responsible for CAM reconciliation and want to catch billing errors before your tenants do, this is for you.

Question 6

What does "CRE FinOps" mean?

Accepted Answer

CRE FinOps is short for Commercial Real Estate Financial Operations — the discipline of managing the financial workflows that directly affect building NOI. CAM reconciliation, leakage detection, cap enforcement, compliance documentation, and tenant dispute resolution all fall under this umbrella. CapVeri is the platform that ties them together.

Question 7

Do I need training to use CapVeri?

Accepted Answer

No formal training required. If you know how to export a GL report and understand basic CAM concepts (gross-up, pro-rata share, expense caps), you're ready. The interface walks you through each step, and every calculation includes a plain-language explanation of what it found and why.

Question 8

Can I manage multiple properties?

Accepted Answer

Yes. Both paid plans support unlimited buildings and unlimited seats. Each property gets its own reconciliation workspace with separate lease terms, GL imports, and audit trails. Portfolio-level dashboards show recovery opportunities across all your buildings at once.

Question 9

What is CAM reconciliation?

Accepted Answer

CAM reconciliation is the annual process where landlords calculate what each tenant owes for shared building operating expenses — maintenance, utilities, insurance, property taxes, and management fees. You compare what tenants paid in estimated monthly charges against actual expenses, then bill or credit the difference.

Question 10

Why do CAM billing errors happen?

Accepted Answer

The most common causes: gross-up factors applied to fixed expenses (taxes, insurance) that shouldn't be grossed up; cap calculations using the wrong base year; pro-rata shares that don't reflect actual occupancy changes; errors compounding year over year without anyone catching them; manual spreadsheet formulas that no one audits after the person who built them leaves.

Question 11

How much revenue do landlords typically lose to CAM errors?

Accepted Answer

Public benchmark data and audit literature indicate reconciliation friction is common. In our calculator, a 200,000 SF office-like building modeled with 0.25%-1.5% leakage scenarios maps to an estimated $5.9K-$35.3K annual recovery range. Portfolio impact scales with CAM pool size, lease mix, and controls.

Question 12

What is a gross-up calculation?

Accepted Answer

When a building isn't fully occupied, some variable expenses (janitorial, utilities) are lower than they'd be at full occupancy. Grossing up adjusts those expenses to reflect what they'd cost at a target occupancy level (typically 95%). This prevents tenants from benefiting from vacant space while the landlord absorbs the shortfall. Fixed expenses like property taxes and insurance are never grossed up.

Question 13

What are expense caps and why do they matter?

Accepted Answer

Expense caps limit how much a tenant's CAM charges can increase year over year. Three types: Non-cumulative resets every year and unused capacity is lost. Cumulative (linear) carries unused capacity forward as a running bank. Cumulative compounding grows the base exponentially each year, like compound interest. Getting the cap type wrong on even one lease can mean tens of thousands in unbilled charges over a few years.

Question 14

What is a base year and how does it affect billing?

Accepted Answer

The base year is the reference year in a tenant's lease that sets the expense baseline. Tenants only pay for increases above that baseline. If the base year had low occupancy, those expenses need to be normalized (grossed up) to reflect what they would have been at standard occupancy. Failing to normalize the base year means the baseline is artificially low, and tenants get billed for increases that aren't real.

Question 15

What is a pro-rata share?

Accepted Answer

A tenant's pro-rata share is the percentage of total building expenses they're responsible for, based on the ratio of their rentable square footage to the building's total rentable area. If a tenant occupies 10,000 SF in a 100,000 SF building, their pro-rata share is 10%. This ratio must be recalculated when tenants move in or out during the year.

Question 16

What changed in BOMA 2024?

Accepted Answer

The BOMA 2024 standard (ANSI/BOMA Z65.1-2024) updated how rentable area is measured, including outdoor amenities in the rentable area calculation even if they're uncovered. This affects load factor calculations and pro-rata share allocations across the building. CapVeri's calculation engine is fully BOMA 2024 compliant, including safety valve protection on gross-up calculations.

Question 17

What calculations does CapVeri run?

Accepted Answer

Gross-up calculations with proper variable/fixed expense classification. Expense cap enforcement — non-cumulative, cumulative, and compounding. Base year normalization for low-occupancy periods. Pro-rata share calculations adjusted for mid-year occupancy changes. Admin fee calculations per lease terms. Multi-year variance analysis with anomaly detection.

Question 18

Why does CapVeri use deterministic math instead of AI?

Accepted Answer

Financial calculations need to be repeatable, auditable, and legally defensible. If you run the same data twice, you need the same answer both times. AI models can produce different outputs on repeated runs. CapVeri's calculation engine is hard-coded BOMA 2024 math — every gross-up, cap, and pro-rata formula is traceable step by step. AI handles lease extraction; math handles money.

Question 19

What is a calculation trace?

Accepted Answer

Every number CapVeri produces comes with a line-by-line breakdown showing the inputs, the formula applied, and the result. When a tenant or their auditor questions a CAM charge, you hand them the trace. There's no black box — every step is visible and verifiable.

Question 20

What is the gross-up safety valve?

Accepted Answer

The safety valve prevents gross-up calculations from producing results that exceed what expenses would be at 100% occupancy. Even if occupancy is very low, the grossed-up amount is capped at the theoretical full-occupancy cost. This is a BOMA best practice that protects both landlord and tenant from unreasonable charges.

Question 21

How does anomaly detection work?

Accepted Answer

CapVeri uses a three-layer approach to flag unusual expense patterns: variance-based (flags expenses that swing more than 10–20% year over year), statistical outliers (identifies expenses outside normal ranges across your portfolio), and trend analysis (catches gradual drift that year-over-year comparisons miss). Each flag includes severity and the specific numbers that triggered it.

Question 22

What are immutable reconciliation snapshots?

Accepted Answer

Once you finalize a reconciliation, the database rejects any modifications to that record. The snapshot captures every input, calculation, and result at the moment of finalization. This creates a legally defensible audit record — if a dispute arises months later, you can prove exactly what the numbers were and when they were locked.

Question 23

Can CapVeri analyze multiple years of data?

Accepted Answer

Yes. The Professional plan supports 2–4 years of historical analysis. Upload GL exports for prior years and CapVeri tracks cap capacity, identifies compounding errors, and shows how much total recovery is available when errors have been accumulating across multiple reconciliation periods.

Question 24

How does CapVeri handle lease amendments?

Accepted Answer

Every lease amendment is tracked with an effective date and a full audit trail. The calculation engine automatically uses the correct lease terms for each reconciliation period based on when amendments took effect. You can see the complete history of every term change, who made it, and when.

Question 25

Why doesn't CapVeri integrate directly with my ERP?

Accepted Answer

By design. ERP API integrations cost $25,000+ annually, require IT involvement, and take months to deploy. CapVeri works with the CSV and Excel exports you already generate — the same reports you pull for month-end close. No implementation consultants, no API keys, no ongoing connector fees.

Question 26

How does CapVeri work with Yardi?

Accepted Answer

Export your GL report from Yardi Voyager as a CSV or Excel file and upload it. CapVeri has an optimized Yardi parser that recognizes Yardi's GL export format and maps columns automatically. The reconciliation runs against your lease terms and flags every discrepancy — errors that Yardi's own reconciliation module doesn't catch because using Yardi to verify Yardi doesn't work.

Question 27

How does CapVeri work with MRI Software?

Accepted Answer

Same approach as Yardi. Export your GL from MRI, upload the file, and CapVeri's MRI-optimized parser handles column mapping. MRI users often find gross-up classification errors — fixed expenses incorrectly tagged as variable — that compound across every tenant in the building.

Question 28

What about AppFolio or other systems?

Accepted Answer

Any system that exports a GL report to CSV or Excel works with CapVeri. AppFolio, RealPage, Buildium, Rent Manager — if you can pull a report, you can upload it. The generic parser handles standard GL formats, and you can map custom columns if your export uses non-standard headers.

Question 29

Does CapVeri replace my ERP?

Accepted Answer

No. CapVeri sits alongside your ERP as an independent audit layer. Keep using Yardi, MRI, or whatever system runs your day-to-day operations. CapVeri takes the data those systems produce and verifies the math is right. Think of it as a second set of eyes that never misses a formula error.

Question 30

How often should I upload new data?

Accepted Answer

Most users upload during their annual CAM reconciliation cycle — typically Q1 for the prior year's expenses. But you can upload anytime: mid-year checks, quarterly reviews, or after any GL adjustment. Each upload creates a new batch with its own audit trail, so you can track changes over time.

Question 31

How much does CapVeri cost?

Accepted Answer

Audit credits are priced by volume: 1–5 audits at $699/audit, 6–24 audits at $599/audit, 25+ audits at $499/audit. All features included. Credits never expire.

Question 32

Is there a free plan?

Accepted Answer

Yes. One building, no credit card required. You get topline variance results so you can see whether to keep going. Upgrade to unlock full draft report review and downloads.

Question 33

What ROI can I expect?

Accepted Answer

We use a modeled range instead of a universal promise. For a 200,000 SF office-like building, the estimate is $5.9K-$35.3K annual recovery. At $699/audit (1–5 tier), that implies ~25x to ~50x modeled ROI.

Question 34

How does recovered CAM revenue affect my NOI?

Accepted Answer

Every dollar recovered flows directly to NOI. At a 7% cap rate, a $5.9K-$35.3K annual recovery implies roughly $84K-$505K in modeled asset value impact per building. Portfolio-level impact depends on asset mix and cap rates.

Question 35

How does CapVeri compare to hiring a CAM consultant?

Accepted Answer

Consulting engagements typically cost $10,000–$25,000 per project, take weeks to deliver, and provide a one-time report. CapVeri runs the same analysis in minutes, produces ongoing monitoring, and costs a fraction of a single consulting engagement. The math is the same — BOMA-compliant calculations, full audit trail — but it's available on demand, not once a year.

Question 36

Why per-audit pricing?

Accepted Answer

Because each audit delivers a discrete result: one building fully reconciled, with all features included. Per-audit credits mean you pay for what you use, when you use it — and credits never expire.

Question 37

What is SB 1103 and how does CapVeri help?

Accepted Answer

SB 1103 is California's Qualified Commercial Tenant Protection Act, effective January 1, 2025. It requires landlords to provide qualified commercial tenants with itemized 18-month CAM expense ledgers within 30 days of request. Non-compliance penalties can reach $5,000 per day. CapVeri's SB 1103 module generates the exact documentation the law requires — on demand, not after weeks of manual assembly.

Question 38

Is CapVeri BOMA 2024 compliant?

Accepted Answer

Yes. Every calculation — gross-up factors, safety valve protection, base year normalization, pro-rata share allocation — follows the BOMA 2024 standard (ANSI/BOMA Z65.1-2024). We don't claim BOMA certification (that applies to buildings, not software), but every formula in the engine is built to the current standard.

Question 39

What happens when a tenant exercises their audit rights?

Accepted Answer

Most leases give tenants the right to audit CAM charges within a specified window. When that happens, you need a defensible paper trail. CapVeri provides immutable reconciliation snapshots, calculation traces, and exportable audit packages that show exactly how every number was derived. The goal is to end the audit before it escalates — traceable math leaves nothing to argue about.

Question 40

Does CapVeri generate demand letters?

Accepted Answer

Yes. The platform includes legal templates for Texas and California that you can generate directly from your reconciliation results. Each letter references the specific calculations and amounts, backed by the immutable audit trail. Your attorney can review and customize before sending.

Question 41

What export formats are available for audit documentation?

Accepted Answer

All audit credits include CSV, PDF, and Excel exports. Every export includes the calculation trace, input data, and finalization timestamp. The exports are designed to satisfy both internal audit requirements and external tenant audit requests.

Question 42

How does CapVeri relate to ASC 842 lease accounting?

Accepted Answer

ASC 842 increased scrutiny on lease data quality and audit trails. While CapVeri doesn't replace your lease accounting system, it strengthens the documentation and auditability of your CAM recovery process. Auditors expect traceable calculations and defensible records — that's exactly what the immutable snapshot and calculation trace provide.

Question 43

How does AI lease extraction work?

Accepted Answer

Upload a lease PDF and our system uses OCR (AWS Textract) to read the document, then AI (Claude) identifies key terms: base year, pro-rata share, cap rate, admin fee, exclusions, and more. The extracted values are presented to you for review. Nothing is applied to any calculation until you approve it.

Question 44

Why is human review mandatory for AI extractions?

Accepted Answer

Lease language is complex, ambiguous, and high-stakes. A misread cap rate or wrong base year can mean tens of thousands in billing errors. AI gets you 90% of the way there; your expertise covers the last 10%. We surface what the AI found, flag low-confidence extractions, and let you correct anything before it touches a calculation.

Question 45

What lease terms can the AI extract?

Accepted Answer

Base year and expense stop amounts. Pro-rata share percentage. Cap rate, cap type, and cap base. Admin/management fee percentages. Expense exclusions and carve-outs. Lease start/end dates and renewal terms. Square footage (rentable and usable).

Question 46

Which plans include AI lease extraction?

Accepted Answer

AI lease extraction is included in every audit credit — there are no feature tiers. If you manage a large portfolio with dozens of leases, automated extraction significantly reduces setup time per reconciliation.

Question 47

How accurate is the AI extraction?

Accepted Answer

Accuracy depends on lease document quality — clean, machine-readable PDFs produce the best results. For standard commercial lease formats, extraction accuracy is high for structured fields like dates, percentages, and dollar amounts. The mandatory review step catches the edge cases where lease language is ambiguous or non-standard. Low-confidence extractions are flagged so you know where to look more carefully.

Question 48

What is the tenant portal?

Accepted Answer

The tenant portal is a self-service interface where landlords invite tenants to view their CAM statements, see calculation breakdowns, and file disputes if they disagree with a charge. It replaces the back-and-forth of emailing spreadsheets and PDFs. Tenants see exactly what they owe and why, with the same calculation trace you use internally.

Question 49

How does the dispute workflow work?

Accepted Answer

Disputes follow a structured state machine: tenant files a dispute on a specific line item with a reason; the landlord team reviews and responds (accept, reject, or counter); resolution is tracked with timestamps and an audit trail; finalized outcomes are locked into the immutable record. No more lost emails or disputed charges that fall through the cracks.

Question 50

How do tenants get access to the portal?

Accepted Answer

You invite tenants by email. They receive a secure link to view their specific property's CAM statement — tenants can only see data related to their own lease. They don't need to install anything or create a separate account. Access is scoped and time-limited based on your settings.

Question 51

Does transparency actually reduce disputes?

Accepted Answer

Yes. Most CAM disputes happen because tenants can't verify the math. 28% of tenants discover CAM errors without even hiring an auditor. When tenants see a line-by-line calculation trace and can verify every number, there's nothing left to argue about. The disputes that do come in get resolved faster because both sides are looking at the same data.

Question 52

How do I make sure my CAM statements are right before sending?

Accepted Answer

Use our CAM Pre-Send Checklist — a step-by-step review process covering gross-up classification, cap application, pro-rata share accuracy, and exclusion handling. Run CapVeri's reconciliation first to catch calculation errors, then walk through the checklist before sending statements to tenants.

Question 53

How is my data secured?

Accepted Answer

In transit: TLS 1.3 encryption. At rest: AES-256 encryption. Access control: Row-level security (RLS) isolates each organization's data at the database level. Audit logging: Append-only log for all financial record changes. We never sell your data. Your financial records are yours.

Question 54

How is my data handled by the AI?

Accepted Answer

Our AI provider (Anthropic) does not store, log, or use any data sent through our API calls for model training. Lease PDF text is processed and discarded immediately. No inputs are used to train their models.

Question 55

Does my GL data ever go to an AI model?

Accepted Answer

No. Your GL data and financial records are never sent to any AI provider. The only data processed by AI is OCR text extracted from uploaded lease PDF documents — and that's covered by the zero-data-retention agreement. All financial calculations are performed by our deterministic engine on our own infrastructure.

Question 56

How is data isolated between organizations?

Accepted Answer

Every database table uses row-level security (RLS) policies that enforce organization-scoped access at the PostgreSQL level. This isn't application-level filtering that can be bypassed — the database itself prevents any query from returning rows belonging to a different organization. One tenant can never see another tenant's data, even through a software bug.

Question 57

Can I export all my data?

Accepted Answer

Yes. You can export your reconciliation results, calculation traces, and audit trails at any time in CSV, Excel, or PDF format (format availability depends on your plan). Your data is yours — we don't hold it hostage. If you cancel, you keep full access to exports for 30 days.

Question 58

I've been doing CAM reconciliation in Excel. How do I switch?

Accepted Answer

You don't need to stop using Excel for everything — just run your GL export through CapVeri to verify the math. Most spreadsheet users find errors on their first run: a single wrong gross-up factor costs $20,000–$30,000 per year. If the formula has been wrong for three years, that's $60,000–$90,000. Start with the free audit on your worst-performing building.

Question 59

We currently hire a consultant for CAM audits. Can CapVeri replace them?

Accepted Answer

For routine annual reconciliation, yes. CapVeri runs the same BOMA-compliant calculations a consultant would, produces the same audit trail, and does it in minutes instead of weeks. At $699/audit versus $10,000–$25,000 per consulting engagement, the math is straightforward. Some firms keep a consultant for complex disputes or litigation support and use CapVeri for everything else.

Question 60

We already use Yardi for CAM reconciliation. Why add CapVeri?

Accepted Answer

Yardi calculates CAM charges, but it doesn't audit its own output. Using Yardi to verify Yardi is like grading your own homework. CapVeri is an independent check that catches the errors Yardi's reconciliation module misses — wrong expense classifications, misconfigured cap types, stale base year references. The average Yardi customer finds $25,000 in errors on their first audit.

Question 61

Do I need to migrate data from my current system?

Accepted Answer

No migration required. CapVeri works from file exports, not data migration. Your ERP stays as your system of record. Export the GL report you already pull for month-end close, upload it, and you're running. Historical analysis just needs the same exports for prior years — no database migration, no ETL pipeline, no IT project.

Question 62

What if I want to cancel?

Accepted Answer

Cancel anytime from your account settings. No long-term contracts, no cancellation fees. You keep access to your exports for 30 days after cancellation. Since CapVeri doesn't replace your ERP, there are no workflow dependencies to unwind — your day-to-day operations continue unchanged.

Help Center

Getting Started

CAM Reconciliation Basics

Financial Calculations

Working with Your ERP

Pricing & ROI

Compliance & Legal

AI & Lease Extraction

Tenant Portal & Disputes

Security & Data Privacy

Switching & Migration

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