Final answer:
Bill's obligation to pay for the square footage of the common areas in the rented commercial space is known as common area maintenance (CAM) fees.
Step-by-step explanation:
Bill rented commercial space in a building where he was obligated to pay for the square footage of the hallways, bathrooms, and kitchen area. This is known as common area maintenance (CAM) fees.
CAM fees are charges that tenants in commercial properties are responsible for paying in addition to their base rent. These fees are used to cover the costs of maintaining and operating the common areas of the property, such as the hallways, bathrooms, and shared kitchens.
For example, if Bill's rented commercial space is 1,000 square feet and the total common area of the building is 200 square feet, he would be obligated to pay for 1,200 square feet in total.