A structured Excel workbook for conducting a commercial lease audit — verifying CAM charges, operating expense allocations, pro-rata share calculations, and management fee caps against executed lease terms. The workbook includes built-in formulas for cap calculations, gross-up adjustments, and year-over-year overbilling summaries, making it the fastest path from raw landlord statements to a defensible dispute notice.
By Angel Campa, Founder · Updated March 2026
Used by lease auditors, tenant representatives, and sophisticated tenants when auditing 1–5 years of CAM statements. Particularly valuable for multi-year audits where cumulative overbillings and base year errors compound across periods.
Lextract automatically extracts these fields from your lease PDF — eliminating the manual data collection underlying this checklist.
Most leases allow a 12–36 month audit window from the date each CAM reconciliation statement is delivered. Audit all years still within the window — cumulative overbillings often compound year over year, so the full audit period produces meaningfully higher recoveries than a single year. The workbook covers up to 5 audit years.
Yes. The audit is only as thorough as the documentation received. Start by requesting the general ledger, vendor invoices for major line items, management agreements, payroll records, and insurance certificates. Many landlords resist providing the full GL — your lease audit rights provision typically compels disclosure. The workbook includes a documentation request tracker to manage this process.
Management fee overages are the most common finding — landlords frequently charge management fees on gross revenue or total operating expenses rather than the contractually defined base. The second most common overbilling is capital expenditures included as operating expense line items without the amortization treatment required by the lease.
A step-by-step guide for tenants disputing CAM charges -- from requesting backup documentation to negotiating a settlement with your landlord.
Your landlord's annual CAM reconciliation statement can include errors and inflated charges. Learn how to read every line item, what the gross-up provision means, and what to challenge.
CAM reconciliation compares estimated vs. actual operating expenses in NNN leases. Learn the timeline, how to read a statement, common errors, and how to dispute overcharges.
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camaudit.io cross-references your lease terms against landlord billings to surface overcharges and generate dispute letters.
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Lease Audit Workbook
A structured Excel workbook for conducting a commercial lease audit — verifying CAM charges, operating expense allocations, pro-rata share calculations, and management fee caps against executed lease terms. The workbook includes built-in formulas for cap calculations, gross-up adjustments, and year-over-year overbilling summaries, making it the fastest path from raw landlord statements to a defensible dispute notice.
