- In 1996 BOMA changed the way building space was classified.
They introduced a new type of area, called Building Common Area (BCA).
BCA consists of any area that serves a common purpose to the entire
building. This can include the entrance lobby, mechanical rooms,
conference rooms (that are available to all tenants), and many other
spaces. Previously these spaces were not generating any revenue
for the building owner. Imagine now, being able to charge for
all that space!
We're always astounded when we walk through a building with the owner
or manager before we start a project. We ask what's behind EVERY door in
the building. Many times we hear "Oh, that's just a storage
room. Don't bother with it." Don't bother with
it?! Who's using that space? Are they paying rent for it? How
much revenue are they losing by ignoring it?
Another time to consider our services. When you take the BIG step to
purchase a new building: You have the foundation checked. You have
the building envelope checked for leaks. You check all the mechanical
systems. In short you look for anything that might end up being a
liability in the future. But.. Do you check the Square Footage
figures given to you by the previous owner? These figures are what your
total income is going to be based on. Why would you trust the figures
given to you by the seller? We've seen sellers that have exaggerated
the area of their building by up to 10,000sq.ft. At today's lease rates,
that's a LOT of money.
Is your building up to date? We would be happy to look over your current
figures with you and discuss your particular needs in detail.