CAM and operating-expense checks for commercial tenants

Your landlord sent a bill. Does it match your lease?

Ratably reads your lease, then runs five tests on the reconciliation figures you enter. You get the discrepancies, the arithmetic, and the kind of lease provision each test relies on. In minutes, for a flat fee.

Run the free 60-second check

No account for the free check. Your PDFs are never stored.

How long do you have left on this year’s statement?

Find the “audit” or “review of statements” clause in your lease. It gives a number of days.

2025 Operating Expense ReconciliationSuite 140 · 4,200 sq ft · Statement date 03/28/2026
Landscaping and snow removal41,200.00
Parking lot resurfacingcapital item: usually amortized, not billed at once186,000.00
Common area janitorial58,400.00
Property insurance97,300.00
Real estate taxes412,650.00
Management fee (4%)management fee: lease allows 3% = 23,866.5031,822.00
Total expense pool827,372.00
Tenant pro-rata share 7.35%4,200 ÷ 61,500 = 6.83%60,811.84
Request backup
Illustrative statement, not a real tenant. The three notes are the kinds of question a Ratably report raises.

30–180 days

is the window most leases give you to review a reconciliation after it arrives.1 After that, the bill usually stands.

+105%

rise in retail property insurance expense from 2019 to 2023 in NCREIF data. Office +107%, industrial +117%.2 It flows straight into your pass-throughs.

$15,000 a year

is what a fifty-cent error per square foot costs on a 30,000 sq ft space.4 Small mistakes repeat every year of the term.

The window on this year’s statement is already running.

Run the free check

Sources

  1. Cushman & Wakefield, “Top 5 Things to Know About Lease Audits,” Jan 13, 2020: “Most leases allow tenants to review the annual CAM reconciliations within 30 to 180 days of the date the tenant receives the landlord’s statement.” Nolo gives the same range.
  2. Rubin & Firenze (New York Life Real Estate Investors), AFIRE Summit Journal, Mar 8, 2024, using the NCREIF Property Index, Q2 2019 to Q2 2023: insurance expense +107% office, +105% retail, +117% industrial.
  3. Nolo, “What Is a Lease Audit?” updated Sept 11, 2023: “Landlords commonly make mistakes in computing these charges and they’re usually in the landlord’s favor.”
  4. Arithmetic: $0.50 per sq ft × 30,000 sq ft = $15,000 per year. Example used by a tenant-rep broker in National Real Estate Investor, Aug 18, 2010.