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e. An operating expense [a] is an ongoing cost for running a product, business, or system. [1] Its counterpart, a capital expenditure (capex), is the cost of developing or providing non-consumable parts for the product or system. For example, the purchase of a photocopier involves capex, and the annual paper, toner, power and maintenance costs ...
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.
Reserve study. A reserve study is a long-term capital budget planning tool which identifies the current status of the reserve fund and a stable and equitable funding plan to offset ongoing deterioration, resulting in sufficient funds when those anticipated major common area expenditures actually occur. The reserve study consists of two parts ...
Homeowner association. A homeowner association (or homeowners' association, abbreviated HOA, sometimes referred to as a property owners' association or POA ), or a homeowner community, is a private association-like entity in the United States, Canada, the Philippines and certain other countries often formed either ipso jure in a building with ...
Hawaii lawmakers recently decided to create a new incentive for affordable housing development under a state program, but it could have a bigger negative effect on affordable housing required by ...
Real estate benchmarking is the standard of measurement used to analyze the financial characteristics of a real estate investment property. In the general sense, real estate benchmarking refers to the comparison of potential real estate investment properties against a predetermined framework of measurement. In a narrow sense, the term real ...
The Appraisal Institute defines highest and best use as follows: The reasonably probable and legal use of vacant land or an improved property that is physically possible, appropriately supported, financially feasible, and that results in the highest value. The four criteria the highest and best use must meet are legal permissibility, physical ...
Porter's wages. Porter's wages is an accounting method used in commercial real estate to calculate inflation of certain recoverable expenses . The term "porters" normally refers to people who carry objects, like bellhops in hotels, but for historical reasons in the United States it also came to cover the cleaning and maintenance staff as they ...