what are boma calculations

What are boma calculations Navigating the Essentials

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Welcome to our in-depth exploration of BOMA calculations and why they matter in the world of real estate and property management. In this article, we’ll uncover the basics of BOMA calculations, understanding their importance and providing insights to help you navigate these crucial elements.

Understanding BOMA Calculations

BOMA, or the Building Owners and Managers Association, plays a pivotal role in establishing standards for accurate building measurements. BOMA calculations are at the heart of commercial real estate, ensuring that measurements are fair and consistent. This, in turn, has a significant impact on lease agreements and effective property management.

Key Concepts of BOMA Calculations

To appreciate the importance of BOMA calculations, it’s essential to grasp key concepts such as Gross Area vs. Rentable Area. These distinctions are vital in achieving accurate measurements and maintaining transparency in real estate dealings. Standards set by ANSI/BOMA add an extra layer of reliability to these calculations.

Navigating the BOMA Metrics

Now, let’s dive into the intricacies of BOMA metrics. We’ll guide you through the process of conducting BOMA calculations, exploring the methodologies and tools that facilitate accurate measurements. Additionally, we’ll discuss common challenges associated with BOMA calculations and provide practical solutions.

Real-world Applications

The practical applications of BOMA calculations are extensive. These calculations significantly influence lease agreements, impacting how space is rented and valued. In this section, we’ll share examples of successful implementation in property management, highlighting the tangible benefits of adhering to BOMA standards.

Ensuring Compliance

In the ever-changing real estate landscape, compliance with BOMA standards is crucial. We’ll shed light on the role of BOMA International in establishing industry standards, emphasizing the importance of adherence for consistency. Moreover, we’ll explore the potential consequences of non-compliance and how it can impact stakeholders.

Future Trends in BOMA Calculations

Looking ahead, we’ll discuss emerging trends in BOMA calculations. From technological advancements in building measurement to evolving BOMA standards, we’ll explore how these trends are shaping the industry. Additionally, we’ll discuss the role of sustainability in influencing future measurement practices.

Tips and Best Practices

To wrap things up, we offer valuable tips and best practices for accurate BOMA calculations. From practical recommendations to common pitfalls to avoid, this section serves as a guide for professionals looking to enhance their understanding and application of BOMA standards.

Conclusion

So, what are BOMA calculations? They are the foundation of reliable and consistent building measurements in the commercial real estate sector. As we navigate these essentials, remember that precision in BOMA calculations is not just a requirement but a necessity for transparent and fair practices across the industry. At Measure Up Corp., we encourage you to embrace BOMA standards, ensuring that your measurements always stand up to scrutiny in the dynamic world of real estate.

 

BOMA measurement standards

Optimizing Industrial Spaces: A Deep Dive into BOMA Measurement Standards

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In the world of industrial spaces, getting things right from the start can make a significant difference. Every square foot matters, and having accurate measurements is crucial. This is where BOMA Measurement Standards come into play. These standards, established by the Building Owners and Managers Association (BOMA), provide a clear and consistent way to measure both rentable and usable space. In this blog, we will explore these standards in detail, understanding how they contribute to making industrial spaces work better for businesses.

Understanding BOMA Measurement Standards

At its core, BOMA Measurement Standards offer a standardized approach to measuring space. By defining what constitutes rentable and usable space, these standards remove the guesswork. Rentable space includes the area exclusively for the tenant and a share of common areas, while usable space refers to the actual working area. This clarity ensures that businesses can accurately assess their space needs, making decisions based on a reliable and industry-accepted framework.

Key Components of BOMA Measurement Standards

The beauty of BOMA Measurement Standards lies in their simplicity and precision. By distinguishing between rentable and usable space, these standards provide a fair basis for comparison. This differentiation enables businesses to optimize their spatial requirements effectively, ensuring they pay for the space they use and need—nothing more, nothing less.

Benefits of Implementing BOMA Measurement Standards in Industrial Spaces

Implementing BOMA Measurement Standards brings several advantages to businesses. Firstly, it provides accurate measurements, laying a solid foundation for leasing decisions. The standardized approach ensures fairness in property assessments, allowing for transparent negotiations between landlords and tenants. Moreover, these precise measurements directly impact property valuation, guiding businesses toward financially sound choices and preventing costly misunderstandings in the leasing process.

Challenges and Solutions

While adopting new standards can be daunting, challenges are not uncommon. Misinterpretation or measurement discrepancies might occur. To address these challenges, seeking professional guidance is invaluable. Consultants well-versed in BOMA Measurement Standards can navigate businesses through potential pitfalls, ensuring a smooth transition and accurate implementation of the standards.

The Role of Technology in Optimizing Industrial Spaces

In our tech-driven age, innovations are transforming various industries, including real estate. Advanced software tools play a crucial role in simplifying the implementation of BOMA Measurement Standards. These tools enhance accuracy and save time, making the entire process more efficient. By leveraging technology, businesses can optimize their industrial spaces with confidence, knowing they are relying on precise measurements.

Future Trends and Innovations

Looking forward, technology continues to shape the future of industrial space optimization. Automation, artificial intelligence, and augmented reality are on the horizon, promising even more efficient and reliable measurement processes. Embracing these trends will be key for businesses seeking a competitive edge in the evolving real estate landscape.

Conclusion

Understanding and applying BOMA Measurement Standards can be a game-changer for businesses operating in industrial spaces. These standards provide clarity and reliability, enabling businesses to make informed decisions about their space needs. At Measure Up Corp., we recognize the significance of accurate measurements in optimizing industrial spaces. By adhering to BOMA Measurement Standards, we ensure our clients receive precise assessments, empowering them to make the most of their industrial spaces.

For tailored, accurate, and industry-approved measurements, trust Measure Up Corp. Let us guide you through the intricacies of industrial space optimization, ensuring you have the right space for your needs—nothing more, nothing less.

 

BOMA measurement guidelines

How to Implement BOMA Measurement Guidelines in Property Management

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In the world of property management, accurate measurements are paramount. They serve as the foundation for rent calculations, occupancy rates, and even property valuations. One way to ensure consistency and precision in measurements is by adhering to BOMA Measurement Guidelines, developed by the Building Owners and Managers Association.

Understanding BOMA Measurement Guidelines

Prior to diving into the guidelines’ implementation, it’s critical to comprehend what BOMA stands for. The Building Owners and Managers Association, or BOMA, is a group that has created extensively accepted benchmarks for evaluating different facets of commercial real estate assets.

These guidelines provide a uniform methodology for measuring rentable areas, determining the boundaries between rentable and common spaces, and addressing unique property features. Following BOMA Measurement Guidelines is not just a matter of conformity; it’s about ensuring fairness, consistency, and transparency in property management practices.

Preparing for Implementation

The first step in implementing BOMA guidelines is preparation. Teams in charge of property management should be knowledgeable about the nuances of these standards. It is imperative that a thorough measurement plan be established. It will also help the implementation process if you are aware of the unique qualities and features of your property.

Measuring Rentable Areas

Office Spaces

BOMA guidelines provide a clear framework for measuring rentable office spaces. The guidelines specify the acceptable methods for measuring square footage, defining the space that can be rented to tenants accurately.

Common Areas

Distinguishing between common areas and rentable spaces is critical. BOMA guidelines offer precise criteria for determining the boundaries between these two types of areas. This is essential in ensuring that tenants are only charged for the space they occupy.

Other Rentable Areas

Properties often include other rentable areas such as parking lots and storage spaces. BOMA guidelines help in measuring these areas accurately, avoiding disputes or confusion over what is considered rentable.

Handling Unique Property Features

Mixed-use spaces or properties with unique features require special attention. BOMA guidelines provide solutions for measuring these unconventional spaces while ensuring consistency.

Documenting and Record-Keeping

Accurate measurement documentation is the key to transparency and dispute prevention. Property management teams should implement robust record-keeping processes, including detailed floor plans, measurements, and supporting documents. Utilizing specialized tools and software can greatly aid in this process.

Handling Changes and Updates

Properties evolve over time, and changes in layout or space allocation are common. BOMA guidelines offer guidance on managing these changes and keeping measurements up-to-date. Communicating these changes to tenants and stakeholders is also a vital part of the process.

Overcoming Challenges

Despite best efforts, challenges may arise in implementing BOMA Measurement Guidelines. These can include disputes with tenants, measurement discrepancies, or conflicts with stakeholders. Understanding these common challenges and having strategies to address them is essential.

Compliance and Certification

Certification is a testament to your commitment to adhere to industry standards. Achieving BOMA compliance and certification demonstrates your dedication to transparent and accurate property management. It’s not just a certification; it’s a mark of excellence.

Conclusion

In the realm of property management, precision and adherence to industry standards are vital. Implementing BOMA Measurement Guidelines is not just about following a set of rules; it’s about establishing a fair, consistent, and transparent process. By implementing these guidelines, you ensure that you “Measure Up Corp.” to the highest industry standards in property management, benefiting both your business and your tenants.

 

BOMA Standard of Measurement

The Importance of Boma Standard of Measurement in Real Estate Valuations

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In the ever-evolving landscape of the real estate industry, precision and uniformity are paramount. Accurate measurements are the bedrock of sound real estate valuations, and this is where the BOMA Standard of Measurement comes into play. In this blog, we will delve into the significance of this standard and how it shapes real estate valuations.

Understanding BOMA Standard of Measurement

Historical Background

The BOMA Standard of Measurement, established by the Building Owners and Managers Association, has a rich historical background. It was first introduced to provide a consistent method for calculating rentable square footage in office buildings. Over time, it has evolved to encompass various property types, offering a standardized approach for measuring space.

Key Principles and Concepts

The fundamental ideas of BOMA standards separate rentable area from gross area. Making this distinction is essential to correctly estimating the amount of space that is for lease. This framework also includes common area and load factors to guarantee that tenants are only charged for the space they actually occupy. The uniformity of the language and procedures employed by BOMA standards facilitates real estate transactions.

Advantages of BOMA Standard in Real Estate Valuations

Consistency and Uniformity

The uniformity that the BOMA Standard of Measurement offers the real estate sector is among its greatest benefits. Properties measured with this standard follow a common methodology regardless of location. Investors, tenants, and real estate professionals all benefit from this consistency in terms of openness and trust.

Enhancing Market Transparency

Level playing fields are produced in the real estate market by standardization. When potential tenants and investors are aware that BOMA standards have been followed, they can compare properties with ease. Decision-making is made easier by this transparency, which also lessens the likelihood of disagreements over space measurements.

Reducing Disputes and Litigation

By providing a clear and standardized framework, BOMA standards significantly reduce disputes and potential litigation related to property measurements. Property owners and tenants can rely on these standardized measurements, reducing the risk of costly legal battles.

Impact on Investment Decision-Making

To make wise decisions, real estate investors depend on reliable data. The BOMA standards offer a solid basis for evaluating possible investments. Comparing and assessing various properties’ income potential is made simpler when valuations are based on standard measurements.

The Application of BOMA Standard

Commercial Real Estate

Commercial real estate, including office spaces and retail properties, widely adopts BOMA standards. This application ensures that tenants and property owners can trust the measurements and base their leasing decisions on a standardized, reliable foundation.

Office Space Leasing

Office spaces are particularly benefited by the BOMA Standard of Measurement. The clear differentiation between rentable and gross areas, along with standardized load factors, streamlines the leasing process and eliminates confusion.

Industrial and Retail Properties

Industrial and retail properties also find value in BOMA standards. These standards enable consistent and transparent measurements, which is essential in attracting tenants and investors to these types of properties.

Mixed-Use Developments

BOMA standards can also be advantageous for mixed-use developments, which comprise both commercial and residential areas. Accurate valuation of the various components of such developments is made possible by the standardization of measurements.

Challenges and Criticisms

Limitations of BOMA Standard

While the BOMA Standard of Measurement offers many advantages, it’s not without limitations. For instance, it may not be suitable for properties with unconventional layouts or unique characteristics. In such cases, adjustments may be necessary.

Instances where BOMA Standard may not be Appropriate

Certain property types, such as specialized manufacturing facilities, may not align with the BOMA standard’s methodology. It’s crucial to recognize when alternative approaches are more suitable.

Alternatives and Complementary Approaches

In some situations, a hybrid approach or complementary methods may be required. Real estate professionals should be aware of these alternatives to provide accurate measurements in all scenarios.

Staying Updated with BOMA Standards

Evolving Standards and Revisions

BOMA standards are not static; they evolve to address the changing needs of the real estate industry. Staying informed about these revisions is essential for real estate professionals to maintain accuracy in their valuations.

Resources for Real Estate Professionals

When applying BOMA standards, real estate professionals should look for training and resources to make sure they fully comprehend and apply the standards. Guidelines for BOMA measurements are provided by a number of organizations and courses.

Training and Certification Programs

For those wishing to specialize in BOMA standard measurements, certification programs are available. These programs can enhance your expertise and credibility in the real estate industry.

Conclusion

In the real estate valuations, precision and consistency are paramount. The BOMA Standard of Measurement plays a pivotal role in achieving these goals. By providing a uniform, transparent, and reliable method for measuring space, it bolsters trust among all stakeholders in the real estate industry. As the real estate landscape continues to evolve, adopting BOMA standards is a smart move for property owners, tenants, and investors. At Measure Up Corp, we recognize the importance of these standards in achieving precise real estate valuations, and we encourage their adoption to benefit the industry as a whole.

 

How to use BOMA standards

How to use BOMA standards – A Comprehensive Guide

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Efficient and accurate management of real estate, industrial facilities, retail spaces, and residential units is critical in today’s fast-paced world. The BOMA standards are relevant in this situation. The Building Owners and Managers Association, or BOMA, has created a set of guidelines that offer a framework for assessing and measuring different properties. This extensive guide will examine how to use BOMA standards to improve your operations and decision-making procedures.

Understanding BOMA Standards

What is BOMA?

One well-known group that has created industry standards for property measurement and assessment is the Building Owners and Managers Association or BOMA. BOMA standards guarantee accuracy and consistency when measuring different aspects of retail establishments, multi-unit residential buildings, industrial facilities, and real estate properties.

Brief History of BOMA Standards

BOMA has had a rich history since its establishment at the beginning of the 20th century. Its set of standards has been updated and expanded over time to include various property types and new trends in response to the industry’s changing needs.

Different Types of BOMA Standards

BOMA standards are not one-size-fits-all; they are tailored to different property types. The main categories of BOMA standards include:

  • BOMA Office Standards
  • These standards are primarily focused on office buildings, providing detailed guidelines for measuring rentable square footage, common areas, and other critical metrics.
  • BOMA Industrial Standards
  • Designed for industrial properties, these standards cover the measurement of warehouses, manufacturing facilities, and distribution centers.
  • BOMA Retail Standards
  • Retail properties have unique measurement requirements, and BOMA retail standards address these by outlining specific measurement methods for shopping centers, malls, and stores.
  • BOMA Multi-Unit Residential Standards
  • For residential properties with multiple units, these standards offer guidance on measuring floor area, common areas, and other essential elements.

Why Use BOMA Standards?

Benefits of Adhering to BOMA Standards

The adoption of BOMA standards can bring several advantages to your business or organization, regardless of the property type:

  • Consistency: BOMA standards provide a consistent and universally accepted way to measure and evaluate properties, ensuring fair and accurate comparisons.
  • Cost Savings: By using BOMA standards, you can optimize space utilization and identify opportunities for cost savings in areas such as energy consumption and maintenance.
  • Credibility: Adhering to industry-recognized standards enhances your credibility and transparency, which can be crucial when dealing with stakeholders and clients.

How to Implement BOMA Standards

Implementing BOMA standards requires a systematic approach:

Assessing Your Property or Facility

Before you can apply BOMA standards, it’s essential to assess your property or facility thoroughly. This includes understanding the property’s purpose, layout, and unique characteristics.

Collecting Necessary Data

Gather all relevant data, including floor plans, building drawings, and occupancy information. Accurate data collection is critical to ensure precise measurements.

Calculating and Applying BOMA Standards

Follow the specific BOMA standards applicable to your property type. Perform calculations accurately to determine metrics such as rentable square footage, common area allocation, and other key measurements.

Compliance and Certification Processes

To fully benefit from BOMA standards, consider obtaining certification or verification of compliance. This adds an extra layer of credibility to your measurements and can be valuable for marketing purposes.

Challenges in Using BOMA Standards

Common Misconceptions

Misunderstandings about BOMA standards can hinder their effective use. Address common misconceptions within your organization and among stakeholders.

Overcoming Measurement and Data Collection Challenges

Measuring and collecting data can be challenging, especially for larger or complex properties. Implement robust data collection processes and consider using technology to streamline the process.

Addressing Compliance Issues

Ensuring ongoing compliance with BOMA standards can be a challenge. Stay informed about updates and revisions to the standards and make necessary adjustments to your processes.

Tips for Maximizing BOMA Standards

Best Practices for Ongoing Compliance

To ensure ongoing success with BOMA standards, consider these best practices:

  • Regularly review and update your measurement processes.
  • Train your staff on BOMA standards and best practices.
  • Stay engaged with industry associations and updates.

Leveraging BOMA Standards for Sustainable Practices

BOMA standards can play a significant role in sustainability efforts. Use them to identify areas where you can reduce resource consumption and minimize your environmental footprint.

Staying Updated with Revisions and Updates

BOMA standards evolve over time. Keep a close eye on any revisions or updates to ensure that your measurements remain accurate and up-to-date.

Future of BOMA Standards

Trends and Developments in BOMA Standards

BOMA standards are likely to continue evolving to address emerging trends, including sustainability, technology integration, and changing property use patterns.

Potential Impact of Emerging Technologies

Technological advancements, such as building information modeling (BIM) and advanced sensor systems, may further enhance the accuracy and efficiency of BOMA standard measurements.

Environmental and Sustainability Considerations

Expect BOMA standards to increasingly incorporate sustainability metrics, reflecting the growing importance of environmentally responsible property management.

Conclusion

In conclusion, Knowing and applying BOMA standards can revolutionize your property management, whether you work in commercial real estate, manufacturing, retail, or residential. By following these guidelines, you can guarantee precision, reliability, and consistency in your property measurements and operations.

We at Measure Up Corp are here to help you as you become proficient with BOMA standards. Our knowledge and solutions can help you meet the strictest industry requirements, whether your goal is maximizing office space, lowering energy usage in warehouses, or improving retail space efficiency.

 

How to calculate BOMA load factor

Understanding BOMA – How to calculate BOMA load factor

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Understanding BOMA (Building Owners and Managers Association) standards is essential for managing and leasing commercial properties. Property owners and managers can benefit from the guidelines and best practices provided by BOMA standards to promote equity and openness in leasing agreements. Calculating the BOMA load factor, which is crucial for figuring out rental rates and operating costs, is one of the fundamental components of BOMA standards. This post will explain the BOMA load factor, why it’s important, and how to compute it precisely.

What is the BOMA Load Factor?


Defining BOMA Load Factor

In commercial real estate, the BOMA load factor—also referred to as the Common Area Factor—is an essential idea. It shows how much of a commercial property’s common areas—like lobbies, hallways, bathrooms, and shared amenities—relative to the overall size that can be rented out. It measures the common areas in a building utilized by all occupants.

Importance of BOMA Load Factor

For both property owners and tenants, it is essential to comprehend the BOMA load factor. For property owners, it plays a significant role in determining rental rates, operating expenses, and the fair distribution of costs among tenants. Ensuring transparency in lease agreements benefits tenants by assisting them in understanding the specific portion of the property they are paying for.

BOMA Load Factor Components

To calculate the BOMA load factor accurately, you need to consider the following components:

1. Rentable Area

The rentable area refers to the total space within a property that can be leased to tenants. It includes both usable space and a portion of common areas. Calculating the rentable area is a crucial first step in determining the BOMA load factor.

2. Common Areas

Common areas are spaces within the property that are shared by all tenants. These may include hallways, lobbies, elevators, stairwells, restrooms, and other communal spaces. The BOMA load factor takes into account a portion of these common areas.

Understanding the Purpose of BOMA Load Factor


Equitable Distribution of Operating Expenses

The BOMA load factor ensures that operating expenses for common areas are distributed equitably among tenants. Property owners use this factor to allocate costs based on the proportion of space each tenant occupies.

Basis for Rent Determination

For property owners and tenants, the BOMA load factor plays a pivotal role in determining rental rates. It helps establish fair market value for leasing commercial spaces by factoring in the shared amenities and common areas.

Impact on Property Valuation

Property valuation is influenced by the BOMA load factor. It affects the perceived value of a property, especially when it comes to potential buyers or investors evaluating its income-generating potential.

Factors Influencing BOMA Load Factor

Several factors can influence the BOMA load factor of a commercial property:

1. Building Design and Layout

The architectural design and layout of a building can significantly impact the proportion of common areas. Efficiently designed properties with minimal common space may have a lower BOMA load factor.

2. Property Management Practices

How common areas are maintained and managed can also affect the load factor. Well-maintained common areas may be more attractive to tenants, potentially impacting the rental rates.

3. Local Market Conditions

Market conditions in the region where the property is located can influence the load factor. High-demand areas may command higher rental rates, affecting the proportion of common area costs.

4. Tenant Requirements

Tenant needs and preferences can impact the BOMA load factor. Different types of businesses may have varying requirements for common areas, affecting their willingness to lease a space.

BOMA Load Factor in Lease Agreements


Lease Negotiations

When negotiating lease agreements, both property owners and tenants must understand the BOMA load factor. It helps in establishing fair rental rates and ensuring that tenants are aware of what they are paying for.

Transparency and Communication

Transparent communication about the BOMA load factor is essential to avoid disputes. Lease agreements should clearly outline how the load factor is calculated and applied.

Avoiding Disputes

By maintaining transparency and clarity in lease agreements, property owners and tenants can reduce the likelihood of disputes related to the BOMA load factor.

Tips for Accurate Load Factor Calculations

To ensure accurate BOMA load factor calculations, consider the following tips:

Data Collection and Verification

Thoroughly collect and verify data related to rentable areas and common spaces. Accurate measurements are essential for precise calculations.

Regular Updates and Audits

Regularly update load factor calculations to account for changes in common area usage or property renovations. Periodic audits can help maintain accuracy.

Professional Guidance

Seek professional guidance from experts in commercial real estate and property management to ensure compliance with BOMA standards and best practices.

Conclusion

In conclusion, In the commercial real estate sector, knowing how to compute the BOMA load factor is crucial for managers, tenants, and property owners. It is a tool for determining rent, allocating costs fairly, and appraising real estate. You can trust professionals like Measure Up Corp. to walk you through the process to guarantee precise computations and clear lease agreements. Adopting BOMA standards can result in more fair and advantageous interactions between landlords and tenants.

 

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.

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

Posted by Editorial Team on

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.