08/06/2024
11 am PT / 12 pm MT / 1 pm CT / 2 pm ET
*approximate length: 45 minutes to 1 hour
Presenter: Mike McConnell, CPM®, RPA
This is part 1 of a 3-part series which will introduce the recovery billing process to newer property managers and supply helpful guidance to the experienced property manager. Included is an examination of the expense recovery process beginning with budget estimates up through and including year-end reconciliation billings. Emphasis is given to methodologies and processes for grossing up and administering expense caps. Base year management is discussed as well as tactics that reduce the likelihood of a tenant audit. The value of thorough and accurate lease abstracting is demonstrated, and the seminar concludes with recommendations for best practices and strategic planning.
Part 1 will review the following:
- Define the terminology…Operating Expenses, CAM, Pass Throughs, Reconciliations, Recoverable, Non-Recoverable Expenses and more
- Acquire valuable lease abstracting skills
- Understand how to prepare Expense pools
Mike McConnell is a 35+ year veteran real estate manager. During his career he has managed and leased all property types and his specialty is in the commercial office arena. Mike is a member of the Institute of Real Estate Management’s faculty and also instructs classes for BOMI.
After his recent retirement from Highwoods Properties where he served as the Orlando Director of Asset Management, Mike has provided operating expense consulting services and seminars to various associations and private groups. He holds the Certified Property Manager and Real Property Administrator designations and has published articles in the Journal of Property Management.