BOMA standards
BOMA standards, established by the Building Owners and Managers Association, provide guidelines for measuring and classifying commercial buildings. They ensure consistency in how properties are measured, reported, and compared, which is vital for leasing, selling, or managing real estate. These standards help in determining usable space within a building and allow tenants and landlords to understand costs related to space clearly. By adhering to BOMA standards, all parties involved have a common understanding of the property's dimensions, promoting fairness and transparency in the real estate market.
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BOMA Standards refer to guidelines established by the Building Owners and Managers Association (BOMA) for measuring and managing commercial properties. They provide a consistent way to calculate the area of buildings, ensuring everyone uses the same methods when determining space dimensions. This helps property owners, managers, and tenants understand how much space they have, which is crucial for leasing, selling, or renovating. By adhering to these standards, parties involved in real estate transactions can create transparency and fairness in property usage and pricing.