Leasing Space? What you need to know! BOMA, Rentable vs. Usable

Buildings are typically measured using a standing method called “building owners and managers association” or BOMA measurement standards. 1915 BOMA first published an accepted and approved methodology of floor measurement for office buildings by the American National Standards institute.  As design standards have changed throughout the years, so has the way BOMA measurement standards are used.

Area calculations from field measurements will most likely never be exactly the same, but considered accurate when results are within 2% or less.

Building measurements are given in terms of Rentable Square Foot (RSF) and Useable Square Foot (USF).  The RSF is the USF plus the Common Areas.  Common areas are considered to be restrooms, elevator lobby, hallways, stairwells, mechanical rooms, etc. These areas are not exclusive to any one tenant, but are shared by all tenants.  Let’s say for example the total RSF of an office building is 10,000 sq. ft. and the Common Area is 1,500 sq. ft .  10,000 sq. ft. - 1,500 sq. ft. = 8,500 sq. ft. of USF.

 A Load Factor is a multiplier to a tenant's USF that accounts for the tenant's proportionate share of the common area.  A load factor can typically range from 15% to as high as 30% for a multi-tenant floor.  In the above example the load factor is 1,500/10,000=15%

For example, leasing a 2,000 sq. ft. office space with a Load Factor of 15% would give you (2,000 sq. ft. – 15% = 1,700 sq. ft.) of Useable space.

Higher load factors may not always mean less, as often times other amenities such as atriums and spacious lobbies are appealing to clients and guests.  Also to note, Tenants occupying an entire floor will not have shared hallways or shared bathrooms and can be charged a lower load factor than a tenant on a multi-tenant floor as their common area will be less.  Knowing your load factor can really save you a lot of money.