CAM Reconciliation for Asset Managers
CAM leakage is a NOI problem. It's invisible until you measure it.
What Keeps You Up at Night
No portfolio-level view of CAM recovery ratios: only property-level data from each controller
Acquisition due diligence: inherited CAM billing errors that reduce NOI projections
Recovery ratio variance between comparable buildings not explained or investigated
Tenant disputes that surface during asset disposition. They are solvable earlier at lower cost.
Cap structure analysis across portfolio: which buildings have cumulative vs. non-cumulative caps and what that means for 5-year NOI
Your Typical Reconciliation Workflow
Asset managers review portfolio operating performance quarterly. CAM recovery is a line item in property-level financials. Disputes surface as line items in property management reports. Asset managers engage deeply with CAM only during acquisitions (due diligence) or dispositions (disclosure obligations).
Time Spent on CAM
Asset managers spend some of Q1 reviewing CAM. It spikes when they buy buildings or when tenants hire auditors.
Common Errors in Your Role
Accepting acquisition underwriting CAM recovery figures without independent verification
Not modeling cumulative cap carry-forward in NOI projections: underestimates future recovery
Recovery ratio benchmarking against wrong peer set: office vs. retail norms are very different
SB 1103 liability not included in California asset risk assessments
Tenant audit exposure not quantified before disposition: emerges as post-closing claim
How CapVeri Helps
CapVeri's portfolio view gives asset managers building-level recovery gap analysis, CAP structure modeling, and leakage estimates across their entire portfolio. Run a full portfolio audit before acquisition or disposition to quantify CAM risk.
Time Savings
Use the ROI calculator to model undetected CAM leakage per building during acquisition due diligence. At portfolio scale, recovered leakage can mean meaningful NOI uplift from existing assets, without adding new square footage.
Need lease data before you reconcile?
lextract.io abstracts commercial leases into 126 structured fields in minutes - CAM definitions, pro-rata share, caps, base year, and more. No manual data entry.
Go to lextract.ioResources for Asset Managers
Free Tools for Asset Managers
See What CapVeri Finds in Your Reconciliations
Export your GL data from Yardi, MRI, or any ERP. Upload to CapVeri for independent verification of every calculation. The same errors tenant auditors look for, caught before statements go out.