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It's March 2022 and you are a property manager of a 125,000 sq. ft. mixed-use...

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Accounting

It's March 2022 and you are a property manager of a 125,000 sq. ft. mixed-use property. You have been tasked to send out CAM, Property Tax and Insurance reconciliation letters for 2021.

The following were your expenses for 2021:

  • Operating Expenses (Recoverable) are $100,000
  • Annual Taxes are $150,000
  • Insurance is $10,000

Rick's Seafood leased a 5,000 sq. ft. space and pays his pro-rata share of CAM, Tax, Insurance based on GLA. He paid the following monthly estimated charges in 2021 for CAM, Tax, and Insurance.

  • Tax - $500 per month
  • Insurance - $10 per month
  • Operating Expenses (CAM) - $250 per month

What would be the year-end CAM, Insurance, and Tax reconciliation billings for Rick's Seafood?

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