This office lease form describes provisions for using the area with respect to each office floor, mean the area within the exterior walls of the Building and, in the case of the lobby floor, the area within the demising walls of areas rented or to be rented which is considered floor area .
Wyoming Provision Using Floor Area as the Measurement Standard for Midtown Manhattan Modern Office Towers
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How to fill out Provision Using Floor Area As The Measurement Standard For Midtown Manhattan Modern Office Towers?
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FAQ
If there are multiple tenants sharing the building, then the load factor is calculated based on their respective shares of rentable space. BOMA Standards also use another metric, called the R/U Ratio. This the ratio of rentable space to usable space and you calculate it by dividing the former with the later.
The Rentable Area of floor area shall be computed by measuring to the inside finished surface of the dominant portions of the permanent outer building walls, excluding any major vertical penetrations of the floor.
Measure the length and width of the building's walls. Multiply the length and width measurements to find square footage. Remember to multiply the square footage times the number of floors in the building if your facility has more than one floor.
What are the BOMA Standards and why are they important? The Building Owners and Managers Association Standard Methods of Measurement (BOMA Standards) are a set of guidelines used by real estate practitioners of all walks in order to consistently measure and describe the areas of a wide range of property types.
Calculating Rentable Square Footage Your rentable square footage is equal to your usable square footage plus your pro-rata share of the common areas of the building. To arrive at the rentable square feet, refer to The Building Owners and Managers Association (BOMA) standard.
