What is BOMA and how does it help commercial real estate owners?

I've seen firsthand how commercial real estate can be complex and challenging to navigate. That's where BOMA steps in to make everything clearer and more standardized for property owners and managers.

BOMA: The Building Owners and Managers Association International (BOMA) is a professional organization that represents commercial real estate owners, managers and service providers worldwide. BOMA International sets industry standards, provides education and advocacy, and helps its members operate their properties more effectively and profitably.

BOMA's Historical Evolution

BOMA's story starts in 1907, during a time when commercial buildings were becoming more sophisticated and needed standardized management practices. From its early days focusing on basic building operations, BOMA grew into an international force that shapes how we manage commercial properties. The organization has built its reputation by creating measurable standards that have become the backbone of commercial real estate operations.

Core Functions and Services

BOMA's influence spans three main areas that make a real difference in commercial real estate:

Industry Standards Development

• Floor measurement standards that create consistency in space calculations

• Building classification guidelines that help categorize properties

• Operating cost standards that make expense tracking clear

Educational Programs

• Professional certifications that boost career growth

• Training programs covering all aspects of property management

• Ongoing education to stay current with industry changes

Advocacy Efforts

• Speaking up for property owners' interests in government

• Shaping policies that affect commercial real estate

• Protecting the industry through unified action

BOMA Standards and Their Impact

The standards BOMA creates make a real difference in how we measure and classify commercial space:

Floor Area Measurement Standards

These standards clear up any confusion about space measurements. You'll find clear guidelines for:

• Rentable space: The total area you can charge rent for

• Usable space: The actual space your tenant occupies

• Load factors: How common areas get fairly divided

Building Classifications

BOMA helps categorize buildings into three main classes:

• Class A: Top-tier properties with premium features

• Class B: Good quality buildings with average rents

• Class C: Functional properties that need updates

Operating Cost Standards

These guidelines help you track and compare:

• Building expenses against similar properties

• Management practices that save money

• Performance metrics that matter

Benefits for Commercial Property Stakeholders

Property Owners

BOMA makes your life easier by:

• Making your property more valuable through standardization

• Reducing operating costs with proven methods

• Minimizing risks through tested practices

Property Managers

You'll gain access to:

• Career-building educational resources

• Tools that make your job easier

• A network of experienced professionals

Tenants

Your tenants benefit from:

• Clear space measurements they can trust

• Consistent quality standards

• Transparent pricing structures

BOMA's Role in Modern Commercial Real Estate

BOMA keeps up with current trends by focusing on:

• Green building practices and certification

• Smart building technology integration

• New safety and health protocols

• Remote building management solutions

Common Misconceptions About BOMA

Let me clear up some confusion:

• You don't need to be a large property owner to join

• Standards are flexible enough for different property types

• Implementation costs often pay for themselves

• Support is available for standard adoption

Working with BOMA Standards

Getting started with BOMA standards involves:

• Learning the basics through their resources

• Following measurement guidelines carefully

• Using their tools and templates

• Connecting with other members for advice

The Future of BOMA and Commercial Real Estate

Looking ahead, BOMA continues to adapt to new challenges and opportunities in commercial real estate. They're focusing on sustainability, technology integration, and creating standards that work for modern buildings and businesses.

Take Action Now

Ready to make the most of your commercial property? Bellhaven Real Estate knows BOMA standards inside and out. We'll help you implement these standards and maximize your property's potential. Let's work together to make your commercial real estate investment more valuable and efficient.