Estimate
A budget sets the CAM payments collected during the year.
Your annual CAM true-up
Turn a complex statement into clear questions.
CAM reconciliation compares the estimated shared costs you paid during the year with your lease-defined share of actual costs. Read the statement alongside your lease to understand what changed and why.
The annual comparison
Actual allocated CAM
Your calculated share of allowed costs
− Estimated payments
Amounts already paid during the year
= Balance or credit
The statement's true-up result
A balance alone does not establish whether the underlying charges are permitted.
Your annual bill, clearer next steps
Got your annual CAM or NNN statement?
Bring your signed lease and the landlord's annual statement. See the lease terms and initial billing questions before deciding whether to buy a full report.
Start free · No credit card for the preview · You can begin with the lease alone.
Bring these two PDFs
1. Signed lease with amendments, as a text-readable PDF.
2. Annual CAM or NNN statement from your landlord. Add it with the lease or on the preview page.
Free preview
See extracted lease terms and initial statement checks when you provide the bill.
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Get page-referenced questions, conditional calculations, a records checklist, and a PDF to keep.
A flagged charge is a question to verify against invoices and other source records, not a confirmed refund.
From budget to balance
Four steps behind the true-up.
Follow the sequence before deciding what to question. The signed lease supplies the rules for each step.
Total
The landlord gathers actual shared operating costs for the period.
Allocate
Your lease-defined share and any special rules are applied.
True up
Estimated payments are credited against your allocated amount.
Illustrative calculation
Watch the calculation from start to finish.
Suppose a property reports $500,000 of CAM costs. A tenant with a 10% share is allocated $50,000. If it paid $42,000 in estimates, the statement shows an $8,000 balance before lease-specific adjustments or review of the underlying charges.
This example demonstrates arithmetic. It does not represent a typical property, an identified error, or a recoverable amount.
Example year-end statement
Property CAM × tenant share$500,000 × 10%
Tenant allocated CAM$50,000
Estimated payments− $42,000
Statement balance$8,000
Next: verify the cost pool, tenant share, caps, fees, and payment credits.
What to inspect
Four checks before you draw a conclusion.
A surprising amount may be permitted, excluded, capped, or allocated differently under the agreement. Check the calculation in this order.
What is in the pool?
Compare each category with the lease's CAM definition, exclusions, and treatment of capital work.
How is your share set?
Check premises area, the denominator, occupancy adjustments, and any separate cost pools.
Were limits applied?
Review caps, fee formulas, and exceptions against the calculation shown.
What did you already pay?
Match monthly estimates, credits, and prior adjustments with your records.
Build the evidence trail
Bring the right documents together.
A statement is a summary. The lease and underlying records help explain how each category and allocation was calculated.
The signed lease
CAM definition, exclusions, allocation method, fees, caps, and review terms.
The annual statement
Actual costs, tenant share, estimated payments, and final balance or credit.
The supporting detail
Category ledger, invoices, area schedule, and calculations behind questioned items.
Keep the timeline in view
Check your lease's review terms.
Notice periods and records-access procedures vary. Read them soon after receiving the reconciliation and keep copies of your requests.
Continue the review
Related guides.
Common questions
Before drawing a conclusion.
What is CAM reconciliation?
It is the comparison of estimated CAM payments with the tenant's calculated share of actual shared operating costs for a period, under the lease.
Does a balance due prove an error?
No. It shows that the statement's allocated costs exceed credited estimates. Review the lease terms and supporting records to assess the calculation.
What if I disagree with a charge?
Check the signed lease for records-access, objection, and notice requirements. Request the detail needed to explain the charge and keep copies of communications.
How long do I have to review it?
The timing varies by agreement. Read the exact notice and audit provisions promptly after receiving the statement.
Your next step
Review your lease and annual statement together.
Start with a free lease preview. Add an annual statement if you have one, then review the initial questions before deciding whether a full report is useful.