Common Area Maintenance (CAM)
- Visit Settings, Setup CAM Pools.
- Add one or more new CAM pools to the system by clicking 'Add New Pool'
- Configure the CAM
Description: What you want to name the pool. Often this is property specific, so name it something descriptive like "Park Plaza Electricity Pool"
Amount: This number is for the total pool amount. Example: if all tenants in a building share the electricity bill, you would specify the total electric bill here.
Estimated: Check this box if the amount is estimated (this will often be the case). When checked, reports will indicate the estimated values so it is easy to identify them for reconciliation later.
Frequency: Specify the frequency to charge this CAM. The charge will post on the rent due day during the month and frequency specified.
Months: Define the specific months this charge will apply. For example, a monthly charge that happens every month, you would want to select all boxes January - December. For a quarterly charge, specify one month during the first quarter, one during the second quarter, one via the third, and one via the fourth. For a yearly charge, you only check one month that the charge will take place in. This option provides the flexibility to still charge a tenant rent each month, but a particular CAM charge might only be billed in January, and exclude all other months.
Start Date & End Date: This is the dates for which this CAM applies. The CAM will not charge to any tenant before the start date or after the end date. Leaving either field blank means there is no specified start/end date and it will always run.
Notes: These are for your internal use.
- Once you've setup one or more CAM pools, click the Tenants tab.
- Right-click on a tenant, and select CAM Charges.
- Configure CAM charges for the tenant by first selecting a CAM pool in the drop-down, then configure the remaining parameters:
Start & End: This works the same as the start and end dates for the CAM Pool, only these dates are tenant specific. Typically these dates will mimic the lease dates.
Percent: If the pool is percent based, put in the percentage that this tenant is responsible for here. The system will automatically charge the amount entered in step 3 above times the percentage each period to the tenant.
Fixed: If you want a fixed amount charged to the tenant in connection with this CAM, specify that here, otherwise leave the value as 0.00. Any value other than 0.00 in this field will override the percent field.
- Once configured, click the green + icon to add the CAM charge to this tenant.
Repeat steps 6 and 7 to add multiple CAM charges to a tenant.
IMPORTANT NOTES: CAM charges will not post to a tenant's ledger prior to the due date. Additionally, to use CAM charges, set each tenants 'create Invoice' to zero (0) days before due. If you need to post rents prior to due date, choose to use recurring charges instead of CAM charges.
CAM charges will post to the tenant's ledger following the tenant's rent charges, on the rent due day. This means that if a tenant is scheduled to have a rent charge on the 1st of every month, on the 1st of every month the system will also charge any applicable CAM charges.
If there is a CAM charge specified to run monthly and the tenant is charged rent quarterly, the CAM charges will only apply quarterly. This case is pretty uncommon, but if you have this specific scenario you will want to use a recurring charge instead. Recurring charges run independent of rent charges.
When you create CAM pools in steps 1-3, a new category will automatically be created for you. Then when when posting a payment for a tenant affiliated with a CAM charge, that categories will be shown. When posting income related to a CAM charge, it is best to make sure the correct category is selected.