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Common area maintenance charges (CAM) are one of the net charges billed to tenants in a commercial triple net (NNN) lease, and are paid by tenants to the landlord of a commercial property. A CAM charge is an additional rent, charged on top of base rent, and is mainly composed of maintenance fees for work performed on the common area of a property
In such a lease, the tenant or lessee is responsible for all costs associated with the repair and maintenance of any common area (also known as CAM - Common Area Maintenance). CAM fees typically are negotiated up front as a set dollar figure per square foot. This form of lease is most frequently used for commercial freestanding buildings.
A common example of this is the common area maintenance charges, or CAM, which includes cleaning and day-to-day expenses like changing lights. In US leases, it is common to group together CAM, property tax and insurance, in which case it is known as a "net-net-net" lease, or NNN lease, pronounced "triple-net".
Even after allocating those costs among all unit owners, many owners in older buildings may not be able to afford the increased maintenance fees and special assessments to make immediate repairs.
Florida Gov. Ron DeSantis has not called for a special session on the issue.. Changes to the law were made after the collapse of Champlain Towers South in Surfside in June 2021, killing 98 people.
In commercial real estate leases in the United States, the tenant, rather than the landlord, is usually responsible for real estate taxes, maintenance, and insurance. In a "net lease", in addition to base rent, the tenant or lessee is responsible for paying some or all of the recoverable expenses related to real-estate ownership.