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In 2023, a major update to the BOMA Multi-Unit Residential Standard was published. One of the key upgrades to the standard was its name, which became the “BOMA 2023 for Multi-Family and Hospitality Properties.” As the name now implies, the standard includes support for measuring not only multi-family residential properties but also hospitality properties, such as hotels.
A new feature of the BOMA 2023 for Multi-Family and Hospitality Properties standard includes the ability to measure only portions of a multi-family or hospitality property, in case a whole building measurement is not required. The latest standard also removed any differences between “Leased Units” and “Owned Units” in the Net Method (Method B) and added a new Net Method of measurement, collectively known as the “Inside Net Method” and “Centerline Net Method.”
The Inside Net Method is similar to the Net Method in the previous standard, wherein the demising walls separating living units from other living units are measured to the inside surface of the wall. The new “Centerline Net Method” offers users the ability to measure to the center of the demising wall, which is standard practice in the industry. The standard also retained its gross method of measurement, bringing the total measurement methods in the standard to three methodologies: Inside Gross Method, Net Method, and Centerline Net Method.
Another notable upgrade to the standard is support for Inter-Building Area calculations. These calculations determine the proportionate share of Non-Living Areas according to the Living Areas (Enclosed Living Areas and/or Unenclosed Living Areas) of specific occupants in a single building or multi-building set. This feature is useful as it provides objective support for business-related activities and cost structures in multi-family and hospitality settings, such as tax-related expenditures, CAM charges, and other maintenance expenses. Additionally, more Unenclosed Areas may now be included in the Boundary Area, including certain outdoor amenity areas that are fundamental to the property’s operations and enjoyment.
The BOMA 2023 for Multi-Family and Hospitality Properties standard is a significant upgrade with many important features and updates that should prove valuable for the asset classes it serves.
In 2010, BOMA International published “Multi-Unit Residential Buildings: Standard Methods of Measurement (2010) or ANSI/BOMA Z65.4-2010.
The primary purpose of the multi-unit residential standard is to provide an objective benchmark in comparing values associated with rental apartments, residential condominiums and other types of community type buildings used for living in. The standard does not pertain to single-unit homes, duplex or triplex buildings, townhomes, row houses, etc.
The standard outlines two distinct methods of calculating multi-unit residential buildings. Method A or the “Gross Method” produces a larger area since it measures each unit including the full thickness of the exterior wall and the full thickness of walls separating living units from common areas. Method B or the “Net Method” measures living units to the inside finished surface of the exterior wall and to the inside surface of walls separating living units from common areas.
Both methods include the areas of private balconies, but balconies are considered “Limited Common Area” and not included in the area of a living unit. The area of balconies are however, included in the Construction Gross Area.
Extreme Measures is the editor and illustrator of the BOMA 2023 for Multi-Family and Hospitality Properties Standard.