09/10/2024
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 2 of a 3-part seminar that when combined fully defines the recovery billing process and will show you how to maximize recovery income, promote positive tenant relations and avoid tenant audits.
Part 2 is focused on the formulas and calculations that are necessary to accurately determine all recoverable expenses and amounts. The benefits to tenants and owners for adjusting expenses for occupancy (a/k/a “grossing up expenses”), will be explained and the formulas needed to do the calculations will be illustrated. Cumulative and year over year expense caps and their application will be defined and when and how to recover capital expenses will be described.
Learning Objectives:
- Learn how to establish total recoverable expenses for each tenant
- Acquire the skills to accurately adjust certain variable expenses for occupancy (grossing up)
- Differentiate between the types of expense caps and their proper application
- Define Capital Expenses and when and how they may be recovered
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.