Free owner calculator

What does one tenant actually owe in CAM?

Enter the property’s CAM costs and one tenant’s lease terms. You’ll see their pro-rata share, any cap, and whether they owe you money or you owe them a credit, with every step of the math shown.

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This tenant's reconciliation

Calculate one tenant's CAM true-up

Three short steps. The result updates as you type.

You're looking at a worked example. Replace any number with your own.

Step 1: The property

The whole property's recoverable common-area costs, from your year-end operating statement. Leave out anything the lease excludes.

The total area the lease divides by, usually stated in its pro-rata share definition.

Step 2: This tenant's lease

The rentable area of their space, from the premises section of the lease.

Look in the operating-expense section for wording like “shall not increase by more than 5% over the prior year.”

What this tenant was charged for CAM after last year's reconciliation.

The cap percentage written in the lease.

Step 3: What they've already paid

The total of the monthly CAM estimates they paid during the year, for example 12 × $1,200 = $14,400. Leave blank if none.

Credit due to the tenant

$2,430

They paid $14,400 in estimates, but their share of this year’s CAM is only $11,970 after the cap. Refund the difference or credit it against upcoming charges, as the lease directs.

Pro-rata share6.67%3,000 of 45,000 sq ft
Share before any cap$12,000Total CAM × share
Share after the cap$11,970Last year + 5%
Paid in estimates$14,400During the year

An estimate for one tenant. It skips exclusions, gross-ups, base years, admin-fee limits, and expense pools, and caps the whole share rather than only controllable costs. The lease controls.

How we got this number
  1. Pro-rata share3,000 sq ft ÷ 45,000 sq ft6.67%
  2. Share before any cap$180,000 total CAM × 6.67%$12,000
  3. Cap limit$11,400 last year × (1 + 5%)$11,970
  4. Share this tenant paysThe lower of $12,000 and $11,970, so the cap applies$11,970
  5. Less estimates already paidTheir monthly CAM payments, added up− $14,400
  6. Credit due to the tenant$11,970 − $14,400$2,430

Free template

Get the CAM reconciliation worksheet

The spreadsheet version: recoverable pool, each tenant's share, caps, proration, admin fee and the true-up balance. Comes with the reconciliation and audit checklists.

  • CAM reconciliation worksheetSpreadsheet template
  • CAM Reconciliation ChecklistPrintable checklist
  • CAM Audit Checklist for Landlords and TenantsPrintable checklist

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Step by step

How to use the CAM reconciliation calculator

  1. Enter the property's numbers

    The year's total CAM costs and the property's rentable square footage, from your operating statement and the lease.

  2. Add this tenant's lease terms

    Their square footage and, if the lease has one, the cap on yearly CAM increases.

  3. Compare with what they paid

    Enter the estimates they paid during the year. The result shows the true-up and how it was calculated.

What the result means

What this calculator covers, and what it doesn’t.

01 / Included

The core true-up

A pro-rata share by square footage, an optional year-over-year cap on last year's actual CAM, and the balance against estimates already paid. Every dollar figure is rounded to whole dollars before the balance is worked out.

02 / Not included

Lease-specific adjustments

Exclusions, gross-ups for partial occupancy, base years or expense stops, admin-fee limits, controllable-only caps, and separate expense pools for different tenant groups.

03 / Best use

Check one tenant by hand

Sanity-check a single tenant's number before you send a statement, or answer a tenant's question about how their share was worked out.

Method

How this is calculated.

Steps

  1. Pro-rata share = tenant square feet ÷ property square feet.
  2. Allocation = total CAM expenses × pro-rata share, rounded to whole dollars.
  3. If a cap is on: cap limit = last year’s allocation × (1 + cap %), and the allocation is the lower of the two.
  4. Balance = allocation − estimates already paid. Positive means the tenant owes; negative means a credit.

What it leaves out

  • Exclusions and expense pools.
  • Gross-ups and base years.
  • Administrative-fee limits.
  • Capping only controllable costs: it caps the whole share.

Method checked October 4, 2026. General information for commercial property owners, not legal, tax, or accounting advice. The signed lease controls.

Good to know

CAM reconciliation questions, answered.

What is a CAM reconciliation?

In most commercial leases, tenants pay monthly estimates of their share of common area maintenance (CAM) costs during the year. After the year ends, the landlord compares each tenant's share of the actual costs with the estimates they paid. If the share is higher, the tenant owes the difference; if it is lower, the tenant is due a refund or credit. That year-end true-up is the CAM reconciliation.

Read the owner's guide to CAM reconciliation
How is a tenant's pro-rata share calculated?

Usually by dividing the tenant's rentable square footage by the property's total rentable square footage: a 3,000 sq ft space in a 45,000 sq ft center has a 6.67% share. Leases differ on the denominator. Some divide by leased or occupied area instead of total rentable area, which raises every tenant's share when the property isn't full, and some leave out anchor tenants that pay their own costs. Use the exact definition in the lease.

How does a cap on CAM increases work?

A cap limits how much a tenant's CAM can grow from one year to the next, usually by a stated percentage such as 3% to 5%. Most caps apply only to controllable expenses like landscaping, janitorial, and repairs; taxes, insurance, utilities, and snow removal are commonly carved out and pass through in full. This calculator applies a simple year-over-year cap: this year's share can't exceed the tenant's actual CAM last year times (1 + the cap percentage). It caps the whole share you enter, so if the lease caps only controllable expenses, run those costs separately.

How to calculate CAM caps and exclusions
What's the difference between a cumulative and a non-cumulative cap?

Leases and guides use these labels inconsistently, so go by how the lease defines the cap rather than the name. Caps come in two basic structures. In one, the cap grows from a fixed starting amount every year whether or not costs actually rose, so unused room carries forward and a cheap year can be followed by a bigger catch-up. In the other, each year's increase is measured against the prior year's actual costs, so a cheap year lowers the base for every year after it. This calculator uses the second, simpler structure. If your lease works the other way, enter last year's capped limit instead of last year's actual charge.

Which expenses are usually excluded from CAM?

Common exclusions include capital expenditures such as a roof or parking lot replacement (or all but an amortized portion each year), leasing commissions and tenant-improvement costs, the landlord's financing costs and income taxes, costs reimbursed by insurance or by another tenant, and costs caused by the landlord's own negligence. Many leases also limit the management or administrative fee to a stated percentage. Remove excluded items before entering the property's total CAM.

See the standard CAM expense categories
What is a gross-up, and does this calculator apply one?

A gross-up clause adjusts variable expenses, such as janitorial or common-area utilities, to what they would have been at a stated occupancy (often 95% or 100%). It keeps tenants in a partly vacant building paying a consistent share and lets the landlord recover costs that rise with occupancy. This calculator doesn't gross up. If the lease has a gross-up clause, adjust the variable expenses first and enter the adjusted total.

How do base years and expense stops change the math?

In a base-year lease, common in office buildings, the tenant pays its share only of the increase in expenses above a base year, not its full share. An expense stop works the same way with a fixed dollar amount instead of a year. This calculator assumes a net lease where the tenant pays its full pro-rata share, so for a base-year or expense-stop lease, subtract the tenant's share of the base amount from the result.

When is a reconciliation due, and what if a tenant disputes it?

Many leases require the landlord to deliver the annual statement within a set period after the year ends, commonly 90 to 180 days, and give tenants a window to review or audit the records. Under some leases a late statement can limit what you're able to collect, so check yours. If a tenant disputes the statement, pin down exactly what is being questioned, check the lease's audit-rights language, and answer with the invoices, the square footage, and the calculation behind that specific item.

What to do when a tenant disputes CAM

General information for commercial property owners, not legal, tax, or accounting advice. The signed lease controls.

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