Jeffrey D. Henty attended a recent BOMA Standards Seminar, introducing the new 2010 update of the standard. The updated standard has finally incorporated a number of practical modifications that real estate professionals have long desired.
Mr. Henty has been providing building calculations, utilizing the 1996 Standards for a multitude of projects, since that standard became widely adopted. He believes that the new standard will give building owners better options to deal with rental load factors which might prove to be unmarketable.
The new standard simplifies the classification of space, reduces the volatility of changes to Building Common areas, and provides a method for capping floors with unduly high load factors. The new standard also provides an alternative method for providing a single, uniform building load factor.
Mr. Henty believes that once the changes to the standard become understood by leasing agents and property managers, they will want to have their building calculations updated to the new standard.