BOMA 2024 Standard Adoption Roadmap for Landlords
A practical guide for property owners and managers transitioning from BOMA 2017 to the 2024 standard, including timeline considerations, lease implications, and implementation steps.
Methodology
Adoption follows a phased approach: Phase 1 — Inventory all leases to identify which reference a specific BOMA version vs. 'current BOMA standard.' Phase 2 — Assess financial impact by estimating how 2024 changes affect building and tenant rentable areas. Phase 3 — Engage a certified BOMA measurer to produce a 2024-compliant measurement. Phase 4 — Communicate changes to tenants with adequate notice. Phase 5 — Update property management software with new measurements. Phase 6 — Amend leases at renewal to reference BOMA 2024.
BOMA 2017 vs 2024
Key changes in BOMA 2024 include: formal outdoor amenity space classification, refined storage area treatment, updated non-allocated area thresholds, enhanced transparency requirements for common area factors, and new guidance on data center and life sciences measurement. The 2024 standard is backward-compatible — buildings measured under 2017 do not need immediate remeasurement unless triggered by lease terms or renovation.
Worked Example
A 300,000 SF office building measured under BOMA 2017. Adding a 4,000 SF rooftop terrace (at 60% = 2,400 SF) and reclassifying 1,000 SF of previously unmeasured storage increases building rentable to 303,400 SF. This increases the building load factor from 1.18 to 1.19, adding approximately 1% to every tenant's rentable area. For 200,000 SF of occupied space at $50/SF, this represents $100,000 in additional annual rent across all tenants.
Financial Impact
The financial impact of transitioning to BOMA 2024 varies by building. Buildings with significant outdoor amenity space or storage areas see the largest increases (1-3% in total rentable area). Buildings without these features may see minimal change. The transition cost (professional remeasurement) typically ranges from $0.03-0.08/SF.
Lease Implications
Landlords cannot unilaterally change the measurement standard referenced in an existing lease. Transition should occur at lease renewal or through negotiated amendments. New leases should reference BOMA 2024 specifically (not 'current BOMA standard') to avoid future ambiguity. Tenants with remeasurement rights should specify which BOMA version governs remeasurement.
Common Errors
- Adopting BOMA 2024 mid-lease without tenant consent or lease authority
- Assuming all existing leases automatically reference the 'current' BOMA standard
- Failing to disclose the financial impact of remeasurement to existing tenants
- Adopting 2024 for new tenants while keeping existing tenants on 2017, creating inconsistent measurements in the same building
Additional Context
BOMA 2024 adoption is an opportunity for landlords to increase building rentable area (and revenue) through outdoor amenity space and storage reclassification. However, aggressive adoption without transparent tenant communication creates dispute risk. The recommended approach is gradual adoption at lease renewal events.
Related Resources
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