Overview
CAM charges are the cost that a property manager pays to operate and run a commercial property. It stands for common area maintenance and is usually interchangeable with the term operating expenses. This would include the common area maintenance, charges for cleaning up common areas, security for the property, property taxes, property insurance, repairs and maintenance. These items are all paid by the property manager and are sometimes passed through to a tenant. With DoorLoop, you can now create custom allocations on a property no matter if the units are occupied or not.
Note: Custom Allocations for CAM Charges are not available to Starter Plans. Consider upgrading to the Pro or Premium Plans to access this feature.
The Steps
To set up custom allocations for CAM charges and credits, click Rentals on the main menu and then click Properties.
Select the Property for which you want to set Custom Allocations.
On the property Overview page, click the Settings tab. Then click the Custom Allocations button.
On the Custom Allocations window, click the + Create New button to create a new custom allocation.
You'll now see the Custom Allocations window. Here, you'll see several fields you can fill in to add your custom allocation presets.
Allocation Name: Enter the name you want for this new custom allocation preset
Allocation Description: Enter a description if needed
Use Common Allocation: Select if you want to Allocate Manually, Allocate Evenly, or Allocate by Size. (Note that if using the Allocate Evenly and Allocate by Size option, you can decide whether or not to include the Vacant Units.)
Allocate Manually: With this option, you can set the allocation percentage for each unit on the property manually
Allocate Evenly: allocate the percentage of charges evenly for all units
Allocate by Size: allocate the percentage of charges based on the size of each unit
Click Save to finish.
Next Steps
To use the custom allocations for CAM charges and credits, you'll need to create the charges and credit in bulk.