Does Seayora decide what is recoverable?
No. The lease does. Seayora works out the figures from the rules you enter and the expenses you include or exclude; whether a cost is recoverable under a particular lease is for you and, where it matters, your counsel.
From the guide CAM Reconciliation: The Year-End True-Up for Commercial Tenants.
Working out a year
- On the Reconcile tab, pick the year. Seayora reads every Expense Center row dated in that year, on the pool’s units, in the pool’s categories. Draft, void and refunded rows are left out.
- Exclude a row that is not recoverable — a capital repair, say — with a reason, or add a line that is not in the Expense Center. Both print on the statements.
- Gross-up raises only the costs that vary with occupancy, and only when the building was less leased than the percentage you set.
- The cap limits controllable costs and is applied before the administrative fee.
- Each tenant’s share is pro-rated for the days its lease ran in the year. What it paid is its monthly estimate for those months, or the figure you enter if it paid something different.
- The difference is the balance: an amount due from the tenant, or a credit owed to them. What no tenant pays — empty units, a common area, the part below an expense stop — is the owner’s part, and the figures always add up to the pool’s total to the cent.
- Save it as a draft as often as you like. A year that has not ended is marked preliminary.
Read the whole guide: CAM Reconciliation: The Year-End True-Up for Commercial Tenants