Accurate area reporting is essential when preparing a building for lease or sale. Too often, realtors and tenants depend on area figures that are outdated or improperly calculated in the first place - a liability that places deals and reputations at risk. Know your numbers. Send us your CAD files and our experts will apply BOMA Floor Measurement Standards, ensuring that you know exactly what you are dealing with.
Even small discrepancies in floor area can have a significant impact on leasing figures and building valuation. As a result, the real estate industry has long required a systematic and consistent methodology for measuring building area that landlords, tenants, sellers, and purchasers can all agree on.
The Building Owners and Managers Association (BOMA) seeks to provide guidance with its suite of BOMA Floor Measurement Standards. Since 1915, BOMA International has continually developed its flagship Office Standard with recent issues in 1980, 1996, 2010, and 2017. BOMA also publishes individual floor measurement standards for industrial, retail, multi-unit residential and mixed-use buildings.
BOMA measurement standards are well adopted in North America and several other markets worldwide, but they aren't the only options available. The International Property Measurement Standard (IPMS) is popular with international asset managers as an effective way to compare buildings in any country, regardless of regional business practices. Apart from BOMA and IPMS, there are many alternative methods of measurement promoted by various governments, organizations, and corporate entities around the world. Most are developed for a specific task such as zoning, auditing, or replacement cost etc.
Extreme Measures has provided area calculation and consulting services to the real estate community for 25 years. We are expert in the application of BOMA Measurement Standards, IPMS, and custom methodologies. Call us today and let's talk about the best measurement strategy for your project.
Extreme Measures is a major contributor to the BOMA International Floor Measurement Task Force. We are under contract to help modernize the entire suite of BOMA's floor measurement standards. Work is underway with new standards released as they are completed.