ISO 9001 is supplemented directly by two other standards of the family: 1  ISO 9000:2005 Quality management systems. Fundamentals and vocabulary. 2  ISO 9004:2009 Managing for the sustained success of an organization. A quality management approach.
Common Area Maintenance (CAM): This is the amount of additional rent charged to the tenant, in addition to the base rent to maintain the common areas of the property shared by the tenants and from which all tenants benefit. Examples include: snow removal, outdoors lighting, parking lot sweeping, insurances property taxes, etc.
The real estate closing is also referred to as settlement. The two terms are interchangeable, though closing is the more common usage. This is the final step in a real estate purchase transaction. It's when property ownership is transferred from the seller to the buyer. There will also be a final distribution of funds on closing day. The sellers will receive a check for whatever proceeds they earned from the sale. The real estate agents will receive a check for their commissions, if applicable.