The landlord needs a highly expansive CAM definition to avoid the risk that necessary costs of operation have no corresponding revenue to cover them.”
“Sophisticated tenants view the landlord’s ownership, development or capital costs as part of the landlord’s cost of doing business and not a recoverable operation cost of the center.
By contrast, tenants accept that maintenance or operating costs may be recovered through CAM charges. This “maintenance versus ownership” dispute shapes many of the issues relating to inclusion in and exclusion from CAM costs. CAM charges should also correspond directly to benefits gained by the tenant under the lease.
Avoid landlord’s use of CAM charges as a separate profit center, as opposed to the recovery of legitimate maintenance costs.”
In this 15-minute video our speaker, Marc. H. Goldsmith, reviews how landlords and tenants look at CAM charges from different perspectives. This video is a theoretical exercise to understand the client’s perspective and also to help you better advocate for your client’s position.
Marc H. Goldsmith, Counsel with McGuireWoods LLP’s Los Angeles, CA office. His practice focuses on commercial leasing and commercial real property purchase and sale transactions, as well as condominium law. He is responsible for negotiating, drafting and reviewing various real estate contracts for retail, office and industrial uses, including leases, purchase/sale agreements, easements, licenses, deeds of trust, subordination agreements, and amendments. Mr. Goldsmith serves as general corporate counsel to numerous nonprofit homeowners associations, business and mixed-use condominium associations, timeshare associations, and for profit entities.
Agenda
Faculty
Marc H. Goldsmith
The Law Offices of Marc H. Goldsmith
- Partner at The Law Offices of Marc H. Goldsmith
- Specializes in representing condo associations and commercial leasing
- President of The Summit on Sixth Homeowners Association and former Board President of the Greater Los Angeles Chapter of the Community Association Institute
- Member of the California State Bar and California Lawyers Association
- Awarded the Hall of Merit Award by the Greater Los Angeles Chapter of the Community Association Institute
- Volunteer Attorney, Bet Tzedek small business program
- Certified Mediator from Asian Pacific American Dispute Resolution Center
- J.D. degree, University of Minnesota Law; M.P.S. degree, University of Minnesota
- Can be contacted at (213) 375-7658 or [email protected]
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