To better support our commercial property managers out there, we’ve added a major new feature supporting automatic CAM (Common Area Maintenance) charges! PM clients can now specify an unlimited number of CAM charges at Settings, Setup Cam Pools. Then right-click on the applicable tenant(s) and choose the CAM Charges option. From there you will be presented with a screen as follows:
Apply as many CAM charges as are applicable to this tenant. Each month (or whenever their rent invoice runs) the CAM charges will run directly afterwards and post debits to their account, which will then be visible on the tenant’s statements. For CAMs that are percentage based, the percentage is automatically calculated for you. This is a huge time saver, since you can edit one field if a utility bill goes up and it automatically affects all affiliated CAM tenants.
To go along with the new automated CAM charges, you’ll find a new financial report called ‘CAM Receipts’, which among other things, will aid in reconciling estimated CAM charges. The new report can be run on all properties, a multiplex, or single properties with any specified date range. It will report all income derived from CAM receipts.
For more information and full instructions please visit the CAM Charges Instruction page.
Note: this is a brand new feature which has experienced limited live activity. As such, the feature is in beta (meaning, it’s completed it’s development and testing, but there may still be room for some fine tuning to make sure it works well in all common property management scenarios). If you choose to use this new feature while in beta, please keep this in mind and provide us any feedback good or bad by email to to support@rentecdirect.com.
