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We are entering into a Lease on a building where historical records show it is 8,287 sf. It is two stories. The second story has four cut-outs to allow natural light from saw tooth lighting on roof. The total area of the cut-outs is approximately 800sf. The Landlord is claiming a "deemed" load factor of 24% and stating the building has 17.516 sf. How is this possible?
Hi Jeff,
Under BOMA Office 2017, the Landlord may apply a capped Load Factor, but it must be lower than the Actual Load Factor.
The only way to determine if the Rentable Area in the lease is accurate is to perform a complete BOMA 2017 area analysis.
One thing that isn't clear in your post is whether the 8,287 is the total area of the building or total area of each floor - and also if that's the rentable area per floor, usable or Gross Area.
Thanks,
David