BOMA revisions

As someone who represents just tenants on their office lease relocations and renewals, this industry can be very one-sided on a number of different levels. Office lease contracts for the most part are written by and for the Landlords and are almost always biased in favor of the property owner. Another example – there is no formal Office Tenants’ Organization to protect and enhance Tenants’ rights. However, there is an owners group, Building Owners Management Association (BOMA), and on June 27, 2017 it was announced that they will be introducing new building measurement standards for 2017. The last time BOMA revised these standards office buildings, mysteriously grew by 5 to 15 percent, with load factors and rentable square foot calculations increasing to the Tenants’ disadvantage. “Items like balconies and rooftop terraces may be included in rentable area,” David Fingret of Extreme Measures Inc. said. (Bisnow, June 27, 2017)