How to Do BOMA Calculations

How to Do BOMA Calculations – Unlock your Building Potential:

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Accurate computations are essential for maximizing the productivity and profitability of your property. Learn How to Do BOMA Calculations are a crucial instrument in the real estate and property management industries for accomplishing this. Building managers and owners can maximize the potential of their properties by comprehending and using these computations. In this post, we will walk you through the BOMA calculation procedure and highlight the significance of accuracy and adherence to BOMA standards.

Understanding BOMA Standards

What is BOMA?

One of the most critical organizations in the real estate market for creating standards that guarantee accurate and standardized measurements is the Building Owners and Managers Association (BOMA). Property professionals can make knowledgeable decisions and give their stakeholders transparent facts by following these guidelines.

BOMA Standards: 2017 vs. 2019

BOMA standards are periodically updated to reflect industry changes and best practices. Two commonly used standards are BOMA 2017 and BOMA 2019. Understanding the differences and implications of these standards is crucial for accurate calculations.

Components of How to Do BOMA Calculations

BOMA calculations involve several key components:

Gross Area

This includes the total floor area of the building, encompassing all spaces, even those not available for rent or use.

Rentable Area

Rentable area accounts for the space that is available for lease, excluding common areas or structural elements.

Usable Area

Usable area is the space within the premises that tenants can utilize for their specific needs.

Calculating these components accurately is essential for lease negotiations, tenant billing, and financial planning.

Benefits of Accurate BOMA Calculations

Accurate BOMA calculations offer a multitude of benefits:

  • Informed Decision-Making: Property owners and managers can make well-informed decisions about space utilization and lease agreements.
  • Cost Savings: Accurate measurements help identify areas where cost savings can be achieved.
  • Transparent Transactions: Compliance with BOMA standards ensures transparency in real estate transactions.

Steps to Perform BOMA Calculations

Performing BOMA calculations requires a systematic approach. Here are the steps to follow:

  • Measure the Property: Gather accurate measurements of the building’s spaces.
  • Identify Common Areas: Distinguish between common areas and rentable or usable spaces.
  • Apply BOMA Formulas: Utilize BOMA-standard formulas to calculate Gross, Rentable, and Usable areas.
  • Verify Accuracy: Double-check your calculations to ensure precision.
  • Document the Results: Maintain records of your calculations for reference.

Common Challenges and Pitfalls

Performing BOMA calculations may come with its set of challenges:

  • Complex Spaces: Irregularly shaped or multi-purpose spaces can be challenging to measure accurately.
  • Changing Standards: Staying up-to-date with evolving BOMA standards can be demanding.

To overcome these challenges, consider seeking expert guidance or utilizing specialized software tools.

Real-World Applications

BOMA calculations find applications in various scenarios:

  • Lease Negotiations: Accurate measurements are essential for fair lease agreements.
  • Space Optimization: Property owners can optimize space allocation for maximum profitability.
  • Financial Planning: Precise calculations support accurate financial forecasting.

Keeping Up with BOMA Updates

Given the dynamic nature of the real estate industry, it’s crucial to stay informed about BOMA updates and revisions. Subscribe to industry publications, attend seminars, or join associations to ensure your compliance with the latest BOMA guidelines.

Conclusion

Learning How to Do BOMA Calculations is the first step to realizing the potential of your building. These metrics are the cornerstone of informed decision-making, cost reduction, and openness in the real estate and property management sectors. Recall that precise How to Do BOMA Calculations are essential to optimizing the value of your property and not just a compliance requirement.

We at Measure Up Corp. recognize how critical accuracy is while performing BOMA computations. Rely on us to assist you in realizing the full potential of your building. Now is the time to confidently begin calculating and uncovering the hidden potential in your home!

 

BOMA in Real Estate

The Rise of BOMA: What Is BOMA in Real Estate

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Being on the cutting edge of developments in the dynamic field of real estate management is crucial. The Building Owners and Managers Association, or BOMA, is one important entity that has arisen as a guiding force in this sector. We’ll look at BOMA’s standards and norms, their importance in the real estate industry, and how they influence sustainable practices in this piece. It’s essential to comprehend “What Is BOMA in Real Estate and how it might affect your activities, whether you’re interested in the business or are just in the know.

What is BOMA in Real Estate?

BOMA, short for Building Owners and Managers Association, is a well-established organization in the realm of real estate management. It has a rich history dating back to its founding in the early 20th century. Since its inception, BOMA has evolved significantly to adapt to the changing landscape of real estate.

BOMA’s primary role is to provide guidance, support, and resources to property owners, managers, and other real estate professionals. It aims to enhance the operational efficiency, sustainability, and overall value of commercial real estate properties.

BOMA Standards and Guidelines

At the core of BOMA’s mission are its standards and guidelines. These serve as a set of best practices for real estate professionals and property owners. Some of the most prominent standards include BOMA International and BOMA 360.

BOMA International

BOMA International offers a comprehensive suite of standards and guidelines that cover various aspects of real estate management. These standards provide a common language and framework for property professionals, ensuring consistency and quality across the industry.

BOMA 360

BOMA 360 is a prestigious designation that recognizes excellence in building management and operations. Properties that earn this designation have demonstrated exceptional performance in areas such as tenant relations, environmental sustainability, and operational efficiency.

Implementing these standards can lead to better-managed properties, higher tenant satisfaction, and increased property values.

BOMA and Sustainable Real Estate

Sustainability is becoming a significant concern worldwide, and BOMA is not falling behind. It aggressively advocates for environmentally friendly methods in the real estate industry. This pledge is in line with the rising demand for energy- and environmentally-conscious homes.

BOMA encourages property owners and managers to implement sustainable building principles and supports certifications for green building. In addition to having a minor negative influence on the environment, sustainable buildings typically draw eco-aware tenants, which raises the value of the building.

Benefits of BOMA Membership

If you’re wondering whether BOMA is right for you, consider the benefits of membership. Being a part of BOMA provides real estate professionals with:

Networking Opportunities

BOMA offers an extensive network of industry professionals. Engaging with this community can lead to valuable connections, partnerships, and insights.

Access to Resources and Education

Members gain access to a wealth of resources, including educational materials, industry reports, and research findings. Staying informed is crucial in the ever-changing world of real estate.

Industry Insights

BOMA keeps members updated on the latest industry trends and developments. This knowledge can help you make informed decisions and stay competitive.

Case Studies

Success examples from the real world demonstrate how BOMA has affected real estate management. Tenant satisfaction has increased, operating costs have decreased, and property values have grown for properties adopting BOMA standards. These case studies offer insightful insights for anyone improving their property management procedures.

Challenges and Criticisms

Like any organization, BOMA has its share of detractors and obstacles. Two typical difficulties are keeping up with the fast-evolving technology and catering to the various demands of property managers and owners. The necessity of ongoing evolution and adaptation to changes in the industry is a common point of criticism.

Future Trends in BOMA

In the future, BOMA will likely have an even more significant influence on how the real estate sector is shaped. Emerging trends like intelligent buildings, data analytics, and increased focus on wellness and safety will likely influence BOMA’s standards and guidelines. BOMA will adjust as the sector changes to maintain its applicability and efficacy.

Conclusion

Being on the cutting edge of best practices is crucial in real estate management. A significant participant in this field is offering standards, tools, and a helpful network for property professionals, BOMA, or the Building Owners and Managers Association. Proficiency in “What Is BOMA in Real Estate is crucial for anybody seeking to succeed in this field.

Measuring Up Corp. acknowledges the value of associations such as BOMA in raising the bar for real estate management. Consider the advantages of BOMA membership and its favorable effects on your properties and career as you maneuver through the ever-changing real estate market.

 

The BOMA Breakdown: What Does Boma Stand for in Real Estate

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Acronyms and associations are essential in creating industry standards and practices in the dynamic real estate field. The Building Owners and Managers Association, or “BOMA,” is one such acronym that has attracted much attention. We’ll go into the realm of BOMA in this post, including its background, importance in the real estate sector, and advantages for professionals such as yourself. We at Measure Up Corp are thrilled to highlight the achievements made by BOMA because we recognize how important it is to be knowledgeable and involved in the real estate industry.

The Creation of BOMA

BOMA’s inception dates back to when the real estate sector lacked a cohesive voice. Building owners and managers realized early in the 20th century that a professional organization was necessary to address sector issues and advance best practices. These demands were met by BOMA, which formed its initial chapters in significant American cities.

BOMA has developed into a powerful worldwide organization representing building owners’ and managers’ interests and promoting professionalism in the real estate industry.

The Building Owners and Managers Association

Full name: The Building Owners and Managers Association, or BOMA. Its purpose is obvious: through networking, education, research, and advocacy, it will advance the interests of building owners and managers. Even though BOMA’s name strongly emphasises “building owners and managers,” its scope goes well beyond these positions. The resources provided by BOMA are valuable to students interested in a career in real estate as well as architects, engineers, and facility managers.

BOMA’s Role in the Real Estate Industry

It is impossible to overestimate BOMA’s impact on the real estate sector. It is a gathering place for professionals to network, work together, and develop. BOMA provides members with abundant tools, including industry research and educational events, to help them remain ahead in a rapidly changing profession.

Additionally, BOMA regularly participates in advocacy campaigns, speaking for building managers’ and owners’ interests on important policy issues. BOMA gives professionals a unified voice and ensures their concerns are heard by bringing them together under one roof.

BOMA’s Standards and Guidelines

Developing standards and recommendations that influence the management and measurement of properties is one of BOMA’s most notable contributions to the sector. The BOMA Office Standard and the BOMA Energy Performance Contracting Model are two examples of widely accepted BOMA standards. These standards guarantee uniformity and openness in property management procedures by giving real estate professionals a consistent vocabulary.

BOMA International vs. Local BOMA Chapters

BOMA is a global organization that also has local operations. Local BOMA chapters provide specialized support and networking opportunities in specific locations, while BOMA International establishes industry standards and offers a worldwide network. A great approach to meeting professionals in your area and tacklingtackling regional issues is to become a local chapter member.

Membership Benefits

Obtaining membership in BOMA opens up a wealth of advantages. Access to industry insights, educational programs, networking opportunities, and a community of like-minded professionals are all provided to members. Membership in BOMA can alter your life, whether your goal is to learn more or further your career.

BOMA’s Impact on Sustainability

Sustainability is a primary real estate concern in the modern world. BOMA knows this and works hard to encourage environmentally friendly business practices. BOMA actively promotes green building practices and energy efficiency measures to lessen the environmental impact of properties and guarantee a more sustainable future for real estate.

Conclusion

In conclusion, A pillar of the real estate sector, the Building Owners and Managers Association (BOMA) brings professionals together, establishes standards, and promotes best practices. BOMA provides many tools and chances for professionals in linked fields, such as building owners, managers, and others, to further their careers and support sustainable development.

At Measure Up Corp, we understand how critical it is to maintain ties with trade groups such as BOMA. To use the priceless tools and networking possibilities that BOMA provides, consider joining the organization or a local BOMA chapter. At the same time, you negotiate the challenging real estate market. When we work together, we can meet the highest expectations for quality in the real estate industry.

Measure Using BOMA Standards

Measuring with Precision: How to Measure Using BOMA Standards

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In the ever-changing world of real estate, accuracy is crucial. Landlord-tenant agreements, property prices, and discussions all rest on precise measurements. The Building Owners and Managers Association (BOMA) Measure Using BOMA Standards is a reputable organization that has established the benchmark for real estate assessment. This blog post, sponsored by Measure Up Corp, will detail the precise art and science of measuring real estate using BOMA standards.

Understanding BOMA Standards

For many years, The Building Owners and Managers Association, or BOMA, has been a mainstay in the real estate sector. They have created thorough measurement guidelines that offer precision and consistency everywhere. The BOMA International Standard, BOMA Gross Area Standard, and BOMA Office Standard are only a few versions of these standards. Why are they important? Considering that they guarantee that everyone speaks the same language when it comes to real estate measurements.

Preparing for Measurement

Get ready before you reach for the measuring tape. Assemble your resources, tools, and gear. Know the kind of property you are working with and its intended use. You’ll be prepared to take on the task if you have a well-defined measurement plan.

Conducting Measurements

Let’s get suitable to business now. A methodical technique is necessary when measuring real estate utilizing BOMA standards. Measure outside first, then carefully move inside. We’ll provide a detailed how-to, including typical problems you may encounter along the route. Recall that in this situation, technology can be your greatest ally. Precision can be significantly increased using digital floor plan software and laser distance-measuring equipment.

Calculating the BOMA Area

While it’s not difficult to calculate, paying attention to details is necessary. Recognize how it is done, starting with Gross Building Area (GBA) and ending with Rentable Area (RA). We’ll guide you through real-world situations and point out typical mistakes to avoid when performing computations.

Verifying Compliance with BOMA Standards

Quality control is an absolute requirement in the real estate measuring industry. We’ll talk about how crucial it is to have independent audits and verifications to ensure your measures meet BOMA requirements. The ability to resolve problems or discrepancies as they occur is essential.

Benefits of Measure Using BOMA Standards

Why make the whole effort? You may change the way you play real estate by using BOMA guidelines. It raises the property’s value, facilitates easier leasing negotiations, and lowers the possibility of disagreements and legal problems. To put it briefly, it’s revolutionary for anyone involved in the real estate sector.

Conclusion

Accuracy in real estate measuring is not optional—it’s essential. You will measure up to the highest industry standards with BOMA standards. Measure Up Corp. encourages all real estate professionals to adopt BOMA standards for precise measures. In the industry, it’s not just about measuring places; it’s also about measuring up to your maximum potential.

 

How to become boma certified

Becoming a Green Leader: How to become boma certified

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There has never been a more important role for sustainable leadership in a society where environmental issues are paramount. Buildings remain a major source of energy consumption and ecological effects. Thus, green practices and their supporting organizations are becoming increasingly important. Obtaining BOMA (Building Owners and Managers Association) certification is a potent approach to demonstrate your dedication to sustainability and establish yourself as a green leader. This tutorial details the How to become boma certified process, highlighting how Measure Up Corp may be at the forefront of sustainable building standards.

Understanding BOMA and its Certification Programs

BOMA International, established to advance building management excellence, has grown to become a preeminent voice in the real estate sector for promoting sustainable practices. BOMA’s certification program suite aims to honor and incentivize establishments and institutions dedicated to minimizing their environmental effect. The BOMA 360 Performance Program, BOMA Energy Performance Program, BOMA Sustainable Buildings Certification, and BOMA BEST (Building Environmental Standards) are some of these initiatives.

Benefits of BOMA Certification

Beyond just environmental responsibility, BOMA accreditation offers many other advantages. In addition to positively impacting the environment, obtaining BOMA accreditation through Measure Up Corp establishes your company as a leader in the industry. The benefits are increased tenant attraction, lower operating costs, and better building performance. Moreover, your dedication to sustainability projects your commitment to a better society and cultivates a favorable reputation in the community.

Steps to Becoming BOMA Certified

1. Research and Familiarization

Before starting the certification process, spend some time learning about the particular BOMA program that fits your sustainability objectives. For example, the BOMA BEST program concentrates on comprehensive environmental requirements, whereas the BOMA 360 Performance Program stresses operational excellence. To lay a strong foundation, familiarize yourself with the program’s standards and guidelines.

2. Preparing Your Building

Evaluating your facility’s energy efficiency and resource usage is the first step toward implementing sustainable practices. Make an energy assessment and note locations that need work. Measure Up Corp can help you make the required improvements so that your building works harmoniously with the environment.

3. Gathering Documentation

Certification requires robust documentation showcasing your commitment to green practices. Measure Up Corp will help you collect data on energy consumption, waste management, and water usage, creating a comprehensive portfolio that demonstrates your dedication to sustainability.

4. Applying for Certification

With your documentation in hand, register for the chosen BOMA certification program. Measure Up Corp will guide you through the application process, ensuring that all necessary forms are completed accurately and efficiently.

5. Verification and Assessment

BOMA assessors will review your submitted documentation, potentially conducting on-site inspections to validate compliance. Measure Up Corp will work closely with you to ensure all assessments proceed smoothly, highlighting your achievements.

6. Achieving Certification

Upon successful assessment, you’ll receive notification of your certification approval. Your commitment to sustainability and green leadership will be publicly recognized, setting the stage for a future of environmental responsibility.

Maintaining BOMA Certification

1. Continual Improvement

Sustainability doesn’t end with certification; it’s a journey of ongoing improvement. Measure Up Corp will assist you in monitoring building performance metrics, ensuring your building remains aligned with the highest green standards.

2. Renewal and Recertification

BOMA certifications typically require renewal to ensure continued adherence to sustainability standards. Measure Up Corp will support you in the recertification process, demonstrating your ongoing commitment to green leadership.

Success Stories

Witnessing the real-life impact of BOMA certification is inspiring. Organizations, like Measure Up Corp, have transformed their buildings into beacons of sustainability, influencing their communities and setting new industry standards.

Conclusion

We at Measure Up Corp are here to support you as the global landscape changes to one of sustainability and to help you become a green leader. A BOMA certification is more than simply a title; it’s evidence of your commitment to improving the environment. By offering you all-encompassing direction, assistance, and knowledge, Measure Up Corp enables you to welcome a sustainable building practices future, proving that genuine leadership starts with a dedication to Measure Up Corp.

BOMA measurement standards

The Art of Accurate Measurements: What is BOMA measurement standards

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In today’s data-driven world, precise measurements are essential to many businesses. It is impossible to overestimate the importance of accurate measurements in the construction, real estate, retail, and manufacturing industries. The Building Owners and Managers Association (BOMA), an organization that has established the standard for measuring accuracy, is one of the major stakeholders in guaranteeing consistent and trustworthy measurements. This essay explores the world of BOMA measurement standards and how they are revolutionizing several industries by offering a consistent framework for estimating space dimensions.

Understanding BOMA Measurement Standards

Establishing uniform measuring rules has been a priority for the Building Owners and Managers Association (BOMA), which was motivated by the need to ensure fairness and consistency in property measures. When BOMA was established in [year], it aimed to develop a standard of measures so tenants and property owners could agree on space estimations.

The industry standard for precisely measuring spaces is BOMA’s Standard Methods of Measurement. These techniques restrict particular areas on a property, promoting open dealings and equitable leasing arrangements. The main objective of BOMA measuring standards is to make property measurements accurate, consistent, and uniform.

Core Concepts of BOMA Measurement Standards

BOMA measurement standards encompass several key concepts, each designed to fulfill a specific purpose:

  • Gross Area Measurement:
  • The Gross Area measurement defines the total area of a building, including all exterior and interior walls. This method helps provide an accurate representation of the building’s footprint and overall size.
  • Rentable Area Measurement:
  • Rentable Area refers to the space available for tenants to occupy and utilize. This measurement is essential for calculating the rental cost and commonly involves the application of load factors or loss factors to the usable area.
  • Usable Area Measurement:
  • Usable Area, as the name suggests, denotes the space that tenants can actually use for their operations. It excludes common areas, structural elements, and other spaces not directly accessible by tenants.

BOMA Standards Application

While the influence of BOMA measurement standards can be seen throughout several industries, it is most noticeable in commercial real estate and property valuation. The transparency and equity these guidelines provide to lease agreements help landlords and tenants. Both parties can ensure that the measurements used in discussions are founded on a widely recognized framework by following the BOMA rules.

Another area where BOMA standards are important is property appraisal. Precise measurements are essential to determining a property’s worth, and deviating from established procedures can cause disparities in property assessments.

Benefits and Importance of Accurate Measurements

The benefits of accurate measurements reverberate throughout the industry landscape:

  • Dispute Avoidance: Accurate measurements reduce the likelihood of disputes arising from discrepancies in space calculations.
  • Fair Lease Negotiations: Tenants can be confident that they are paying for the space they are actually utilizing, fostering trust in lease negotiations.
  • Transparency and Trust: BOMA standards enhance transparency, which is paramount in establishing trust between property owners and tenants.
  • Standardization: BOMA measurement standards provide a common language for measuring spaces, reducing confusion and disparities.

Challenges and Criticisms

Although BOMA standards are widely accepted, issues still need to be addressed, like different interpretations and implementation problems. These difficulties highlight how crucial it is to have continuing discussions and revisions to the standards to keep them relevant and useful.

Evolution of BOMA Standards

Over time, the BOMA standards have changed to meet the demands of the industry and evolving technologies. Modern technology has made it possible to develop more precise measurement instruments and techniques, guaranteeing that standards remain applicable in a constantly shifting environment.

Future Trends and Implications

Green building techniques will become BOMA guidelines as people grow more environmentally concerned. Incorporating technology, such as sophisticated measurement instruments and software, will also improve measurement efficiency and accuracy.

Conclusion

Measure Up Corp.’s BOMA measurement standards have become the cornerstone of precise measurements across various businesses in a world where accuracy counts. In transactions involving spaces of all sizes, BOMA standards guarantee fairness, transparency, and trust by establishing a uniform vocabulary for measuring. BOMA standards will continue to be a pillar of trustworthy measurements as market demands and technological advancements drive changes, inspiring trust between valuation specialists, tenants, and property owners alike. With a commitment to a future where equity and precision go hand in hand, Measure Up Corp. embraces the concepts of accurate measurements through BOMA standards.

get BOMA certification

How to get boma certification – Transform Your Building:

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In the ever-changing real estate industry, sustainability and innovation are essential for staying ahead of the curve. As the focus on environmental responsibility and energy efficiency grows, building owners and managers look for innovative ways to improve their properties. This is where having a BOMA certification is beneficial—presented to you by Measure Up Corp., welcome to our in-depth guide on transforming your building through get BOMA certification

I. Introduction

The real estate market is changing, presenting new opportunities and challenges for building owners. A chance like this is to get BOMA certification an accolade extending beyond features and design. Obtaining a certificate from the Building Owners and Managers Association (BOMA) denotes a dedication to sustainability, energy efficiency, and operational excellence.

II. Understanding BOMA Certification

Let’s explore the requirements for get BOMA certification before getting started. It shows evidence of your building’s adherence to strict industry standards and goes beyond just being a badge to show off. Various certificates, including BOMA 360 and BOMA BEST, are available from BOMA, each focusing on a distinct facet of environmental responsibility and building management.

III. Benefits of BOMA Certification

What makes a BOMA certification important? Wide-ranging advantages increase the attraction of your building to both investors and tenants. Imagine your building being recognized as a leader in energy efficiency, with lower maintenance expenses and happier tenants. Obtaining a BOMA certification allows for the following:

  • Enhanced Marketability: Attract a new wave of environmentally conscious tenants and investors, boosting occupancy rates and rental income.
  • Improved Energy Efficiency: Implement measures that not only save resources but also contribute to a greener planet.
  • Operational Excellence: Streamline your building’s operations, leading to smoother maintenance and happier tenants.

IV. Steps to Obtain BOMA Certification

Getting BOMA certified is a journey that starts with preparation. Measure Up Corp presents a roadmap to guide you through the process:

  1. Pre-Assessment: Evaluate your building’s current status, identifying areas that may need improvement before applying for certification.
  2. Document Preparation: Gather and organize necessary documentation, showcasing your building’s commitment to energy efficiency and sustainability.
  3. Implementing Energy-Efficient Measures: From advanced HVAC systems to energy-efficient lighting and insulation, embrace measures that not only cut costs but also conserve resources.
  4. Tenant Engagement: Engage your tenants in sustainability initiatives, fostering a collective commitment to energy conservation.
  5. Application Submission and Review: Submit your application, along with the required documentation. BOMA representatives will review your submission and verify your compliance with certification standards.

V. Case Studies

To provide real-world insights, let’s look at success stories of buildings that have get BOMA certification These transformations are not just about certification; they’re about making a lasting impact on both the environment and the bottom line.

VI. Overcoming Challenges

Embarking on the BOMA certification journey isn’t without its challenges. However, with the right strategies and mindset, you can overcome obstacles and achieve your goal of certification.

VII. Maintaining BOMA Certification

Once you’ve get BOMA certification the journey isn’t over. Ongoing commitment is crucial to maintaining your certification status. Periodic reviews and updates ensure that your building continues to meet the high standards set by BOMA.

VIII. Conclusion

Real estate is at a turning point, with sustainability at the forefront. Measure Up Corp’s BOMA certification is more than just a mark of quality; it’s a pledge to turn your building into a shining example of operational efficiency, environmental responsibility, and marketability. Become one of the buildings that have made the transition to a greener future and demonstrate your commitment to creating a better world. Makeover your structure right now with Measure Up Corp.

BOMA measurement standards

What is BOMA Measurement – Unraveling the Mystery of BOMA Measurement

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Accuracy is crucial in the complicated world of real estate and property management. One term commonly used in commercial real estate discussions is “BOMA measurement.” Understanding how to compute BOMA is crucial for accurate property valuation, fruitful lease negotiations, and maintaining transparency between landlords and tenants—even though it might seem like jargon to some. We set out to elucidate the meaning of BOMA and shed light on its real estate industry application today.

Understanding BOMA Measurement

The fundamental definition of BOMA is the uniform method for calculating the rentable square footage of commercial properties that have been approved by the Building Owners and Managers Association (BOMA). This system makes it possible to consistently calculate rent, handle leasing expenses, and value properties. BOMA standards were established more than a few decades ago and have evolved to keep up with the real estate industry’s constant change.

Critical Components of BOMA Measurement

Rentable area and gross area are the two main concepts in BOMA measurement. Common areas like lobbies, hallways, and restrooms are deducted from the rentable area, the entire area inside the property’s walls. This is referred to as the gross area. The careful distribution of common areas, ensuring accuracy and fairness, is crucial to BOMA. Because individual floor measurements account for usable space, exterior walls, and vertical penetrations, they are also essential.

BOMA Measurement Methods

The two critical ideas in BOMA are rentable area and gross area. The entire space inside the building’s walls is referred to as the rentable area, and common areas such as lobbies, hallways, and restrooms are subtracted from this amount. The gross area is the term used for this. One of the most critical aspects of BOMA is the exact and equitable distribution of common areas. Individual floor measurements are also crucial because they consider usable space, exterior walls, and vertical penetrations.

Importance of Accurate BOMA Measurement

Precise BOMA measurements affect many different aspects of the real estate market. Accurate measurements are the foundation for reasonable lease negotiations and rental agreements when dealing with real estate. Furthermore, BOMA play a significant role in property valuation and appraisal, guaranteeing that evaluations meet legal and market requirements. The transparency of BOMA is another factor that fosters trust between tenants and landlords.

Technology and BOMA Measurement

The unquestionable role of technology in BOMA measurements exists in today’s technologically advanced world. Laser measurement tools and Building Information Modeling (BIM) have transformed BOMA accuracy and efficiency. These tools promote trustworthiness in property evaluations by lowering the possibility of human error and improving measurement consistency.

BOMA Measurement Challenges and Best Practices

Boma measurements are more comprehensive than standard spaces; measuring areas such as atriums, balconies, and sloped ceilings can be difficult. To overcome these obstacles, thorough documentation—including comprehensive floor plans—is necessary to guarantee accuracy. Incorporating experts in surveying and architecture ensures adherence to BOMA standards even more.

Future Trends in BOMA Measurement

The trajectory of BOMA is changing as we look to the future. Combining machine learning with artificial intelligence (AI) has the potential to automate measurements, improving efficiency and accuracy. Furthermore, it is anticipated that the increasing focus on green spaces and sustainable design will impact BOMA measurement standards, reflecting the changing priorities of the real estate sector.

Conclusion

In the real estate industry, where each square foot is valuable, BOMA becomes essential for upholding accuracy, fairness, and transparency. By exploring its nuances, we can better understand the significance of BOMA in real estate appraisal, lease negotiations, and tenant satisfaction. To ensure future informed decision-making and equitable property dealings, Measure Up Corp. advises professionals to stay current on the constantly evolving BOMA measurement standards and practices.

BOMA REBNY CALCULATION

Things to Consider for Implementing Accurate BOMA Area Calculations for a Building

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BOMA standards for floor measurement are popular throughout the commercial real estate sector. It is well known as a common practice to add a reference to BOMA floor standards in basic lease language. Every reference in the lease must be specific as to the method and the standard publication year. In this blog, you will find some considerations for implementing precise BOMA area calculations for a building.

Considerations for Applying BOMA Area Measurement Standards

The process of calculating and then applying the standard is a step-by-step procedure. It will take commitment and time.

Have Your Building Professionally Evaluated

Everything in a building is assessed by square footage. Lease costs, building expenses, contractor services, lending practices, operating charges, sales calculations, and management services are all calculated depending on the building’s square footage. Hence, an owner will surely want the building measurements used to be accurate and authentic.

It is necessary that the organization you hire to measure your building completely understand the BOMA floor measurements so you can get precise calculations. Make sure to use the services of an experienced measurement professional.

You may ask the following questions:

  •         How long have they been offering floor measurement services?
  •         How many buildings has the company measured?
  •         Can they offer recommendations from satisfied clients?
  •         What measurement strategy do they use?
  •         What is the total square footage the company has measured?
  •         What deliverables will the company offer so you can authenticate precise floor area calculations and measurements?

Create a Square Footage Tracker

Although you may be using a great property management service, an Excel Spreadsheet can be an amazing solution to track different measurements for planning purposes. In Excel, you can recognize every tenant’s name, tenant suite, the leased square footage, the new square footage, and the lease expiration date.

Ensure you have clarified all building square footage, including empty suites. With the commercial building laid out this way, you can make a strategy for dealing with the variances.

Check Your Leases

Since the lease is an agreement between the landlord and the tenant, you should review and understand the supplies that identify space and building size. Does your lease language mention that the suite is a permanent square foot amount or that the square footage is approximate? Does it mention that rent is a permanent cost per square foot, or does it state a monthly rental fee depending on the approximate square footage? Does your lease language identify modifications to the suite size or building denominator? You must consider understanding your leases as you create your plan.

Create a Strategy

Your strategy will usually depend on the result of the building measurement. You should consider the lease duration of every tenant, the expiration date of their leases, the ideal time for placing the building on the market for sale, the number of vacant spaces, the building’s profitability, the targets of the ownership entity, the restrictions decided by the lender for securing a loan, and whether the owner is open to changes in measurement.

Remember these considerations for applying BOMA measurement standards to a building. Contact Measure Up Corp. if you want professionals to implement accurate BOMA area calculations in New York.

BOMA measurement standards

Understanding How Detailed BOMA Measurement Works for Office Buildings

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The BOMA or Building Owners and Managers Association recently embraced new measurement standards for commercial developments. Detailed BOMA measurement standards are mainly used in leases but are also utilized in sale or purchase agreements and building agreements for real property.

Presently, BOMA measurement standards exist for different types of real estate buildings, such as multi-unit buildings, office buildings, retail space, and industrial buildings. Moreover, these standards are used for assessing a building’s physical size.

Failing to evaluate commercial buildings precisely can possibly cost you a lot in untapped leasing revenue. Mixed-use, industrial, and retail property owners must know the latest changes to BOMA measurement standards that, when utilized properly, can cause serious revenue gains.

In this blog post, you will learn how the BOMA measurement standard works for office buildings.

BOMA Measurement Standard for Office Buildings

The main intent of the BOMA measurement standard for office buildings is to allow computation and communication on an understandable and clear basis. Usually, the BOMA standard has been the most commonly used strategy for evaluating workspace for several years. Here, you must note that this standard can be used to assess workspace in both old and new buildings. You can apply it to any type of construction or architectural design.

1. Rentable Area

The BOMA standard evaluates the tenant’s pro-rata portion of the whole office floor. This excludes the building components that get through the floor to areas below. A building’s rentable area is fixed for a lifetime, and changes in corridor configuration and sizes can’t impact it. Hence, this method is ideal for measuring the building’s complete income-generating area.

You should compute a floor area’s rentable space by assessing the internal finished surface of the ruling portions of the fixed external building walls. This excludes all prime vertical penetrations of the floor area.

2. Usable Area

The usable area of a building is the physical area that tenants can utilize to run their businesses. In this space, you can locate workstations, desks, personnel, equipment, and furniture. You can measure the usable area at these points:

  • The inside of the building’s external wall
  • The common corridor wall’s office side
  • The partition wall’s middle portion that separates two adjacent tenant spaces

Many tenants assume that they are paying just for the usable area and don’t care about the exclusions. The common areas are a crucial part of a building. After all, you cannot have a roof without walls, and you cannot build an office without electricity, toilets, or water systems. The landlord has to pay for the building and maintain all areas, so they can include them in the rentable area.

3. Load Factor

A building’s load factor is the percentage distinction between the usable and rentable areas. When the building is rented to an individual, this evaluation is easy to make. If there are many tenants sharing the same commercial building, the load factor is assessed depending on their particular shares of rentable area.

For detailed BOMA measurement in New York and professionals to help with building measurement, contact Measure Up Corp. in no time.