The Guide to CAM Reconciliations

Market Insights

The late Joshua Leonard was the only CPA I’ve ever known to provide training for CAM reconciliations other than some of the national retail association conferences. He was an ex big four auditor that went out on his own for his second career. He truly had a zest and intricate knowledge of lease audits. What I present here paraphrased some of the concepts he provided in his guide. Some lease audits are about inspection and investigation while others require a contingency or hourly CPA and often times an attorney. There are two main players in this space that we can refer. When you send me your CAM reconciliation, I spend 2-3 hours reviewing it and comparing it with BOMA standard operating expenses to look for errors and anomalies. After reporting back to you my findings, we can decide whether we can address any idiosyncrasies with the landlord or if we need to escalate it to an outside professional. Most often times I have found a thorough inspection and comparison to prior years enough to get the ball rolling depending on the size and complexity of the lease. Get your guide here.