Anyone who works with retail leases knows that leases are not all the same, and the parties cannot assume that cookie cutter language will meet all needs. However, if you work with leases in unusual locations, such as a theme park, the differences are even more significant and the impact on profitability can be staggering.
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The Effect of CAM Audit Clauses in Retail Leases
By Tracy E. Reichmuth on
Posted in Real Estate
Traditionally, retail tenants have sought to include provisions in their leases explicitly giving them the right to audit landlords’ books, particularly with regard to common area maintenance (CAM) charges. However, case law suggests that a retailer may not be out of luck if its lease is silent as to audit rights. Tenants should also be aware that even where audit rights are set out in a lease, landlords often insert restrictive clauses that seek to limit tenants’ rights to recover overcharges in court.
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