A clearer expense picture
CAM vs. NNN: what's the difference?
CAM generally covers common area costs. In a typical triple net arrangement, CAM sits alongside property taxes and insurance within the broader NNN expense total.
Think of NNN as the container
NNN expenses
The exact categories and allocation rules depend on the signed lease.
Side by side
Two labels, different scopes.
The useful question is which costs your lease permits and how the landlord allocated them, rather than which label appears at the top of the statement.
CAM
Shared property operating and maintenance costs, as defined by the lease. Examples may include landscaping, parking area maintenance, cleaning, and common area utilities.
NNN
A broader expense arrangement that commonly includes the tenant's share of property taxes, insurance, and CAM. Each category can have its own definitions and allocation rules.
One fictional statement
Count CAM once.
In this simplified example, the CAM line is already part of the $120,000 NNN pool. Adding it again would double-count it.
The figures illustrate the structure only. The lease and records decide whether each charge and share is correct.
Read beyond the label
What to compare in your own documents.
Lease definitions
Find the clauses defining operating expenses, taxes, insurance, exclusions, and fees.
Area and share
Compare the tenant area and allocation denominator with the lease and area schedule.
Statement detail
Identify each category, its backup, and any cost appearing in more than one place.
True-up and timing
Match monthly estimates, credits, the year-end balance, and any notice or audit deadline.
Your lease is the starting point
See the terms that apply to you.
Upload your lease for a free preview of extracted terms and initial questions. Add an annual statement when available for billing checks.