Buildings that earn designation under the BOMA 360 Performance Program command higher rents than uncertified facilities, according to a new survey. Conducted using information from BOMA International’s 2015 Office Experience Exchange Report, which used data from over 5,300 facilities, certified buildings averaged $4.89 per square foot (psf) more in total rental income than comparable buildings. Certification under BOMA 360 was also shown to improve operational efficiencies, with facilities averaging $4.56 psf more in total rental income when subtracting operating expenses than uncertified buildings – a jump of $2.79 over last year.
Additionally, BOMA 360 offers benefits to FMs in LEED-certified buildings, with properties that have both certifications averaging $1.73 psf more in total income than properties only certified under LEED (up $0.55 from last year) and $1.50 psf more in rental income after subtracting operating expenses.
“Earning the BOMA 360 designation or certifying through LEED will benefit your property. However, as the analysis shows, property professionals who earn both BOMA 360 and LEED together will reap the biggest benefits,” says George Denise, chair of the BOMA 360 Performance Program Council.