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Being a member of BOMA provides you with a leg up on procuring services at a more affordable price.

 
 
 
 
 
 
 
BOMA member service providers are specialists in their field and know the latest technologies / improvements in their field, which often translates to more affordable pricing and improved service.                       

 

  • A BOMA member bid exterior landscaping service to BOMA member landscaping firms.  Their annual budget was $14,000.  The winning bid was $11,000 and the low bidder provided dramatically improved service.

 

BOMA member service providers are specialists in their field and have more specialized knowledge than we do, as property managers / owners.

 

  • While participating on the Community Affairs Committee a BOMA Principal member learned that technology upgrades and more accessible programs relating to elevator service translated to building owners and managers not having to employ the elevator manufacturer to maintain the elevators in some applications.  After confirming with his consultant, he bid the service and realized a $70,000 a year savings with no drop off in service.

 

  • A BOMA service provider was contracted by a non-BOMA member property manager to provide tree maintenance.  Said property manager had for years budgeted to replace $21,000 worth of trees annually because they were dying that frequently.  The BOMA member service provider began performing the necessary spraying and maintenance on the trees and voila, the trees stopped dying and the $21,000 a year fell to the bottom line for the owner / tenants, thereby reducing their operating expenses.

 

Things change and new ways of doing business emerge all the time.  Remember to bid your services to BOMA members who are on the cutting edge of industry change.

 

  • A BOMA member property manager was tasked with bidding a security contract for three separate buildings.  He knew the incumbent to be a reputable firm who is also a BOMA member service provider that provided great service and expected them to win the bid hands down.  He put together the RFP and included only BOMA member service providers.  Imagine his surprise when he received the bids; he kept thinking it was a mistake and kept reviewing and analyzing the results which indicated the winning bid generated an $90,000 a year savings across the portfolio.

 

Being a member of BOMA allows an exchange of knowledge between professionals promoting growth and development.

The value tends to be more personal because it can help property managers when it comes time for a job change, the networking with other property managers.

Professional Development also comes in the form of taking RPA courses which from my perspective, I was surprised I landed my first property management job without already earning my RPA.  Earning an RPA definitely prepares you to be a professional and knowledgeable property manager.  Not having an RPA definitely puts you at a competitive disadvantage.

Professional Development also comes from having a ready network of property manager peers that can field your calls / e-mails when faced with a problem / opportunity that you have never faced before.  It is invaluable to have relationships with those who have insight that will help you when you face first time experiences.

Being a member of BOMA allows you to take part in different advocacies that benefit the industry.

  • BOMA lead efforts preventing costly inclusions in the 2012 International Green Construction Code: 
    • Deleted retroactive inspections and building upgrades to meet the newly constructed building code requirements one-year following the sale /acquisition of a building.
    • Eliminated provisions mandating enforcement of post-occupancy building and HVAC system commissioning one year after tenants had occupied the building through a special 5% performance bond (based on the total value of the project) plus 10% property tax and utility rate penalties.

 

  • BOMA’s efforts led to conservatively estimated savings for a typical 100,000 sq. ft. commercial office building of $70,000 by eliminating the below provisions from the 2011 ICC Building Codes:
    • Eliminated a mandatory 14-day whole building interior air flush-out prior to occupancy which would have applied to any renovated space in an existing building.
    • Eliminated mandatory renewable energy credit purchases and defeated even more stringent on-site renewable energy system requirements for both newly constructed buildings and significant renovations of existing buildings
    • Deleted a mandatory multiple entry floor mat system at all building entrances that would impact newly constructed and existing buildings
    • Eliminated mandatory installation of significant additional roof insulation when performing roof replacements and major roof repairs
    • Defeated all EPA proposals to limit on-site diesel engine emissions and to add chemical use reduction requirements for ALL interior spaces
    • Defeated unnecessary and costly mandatory indoor air quality thresholds during construction

 

  • Leasehold Improvements
    • BOMA leads the way to keep the leasehold depreciation period at 15 years instead of 39-years.  Depreciating leasehold improvements over 39 years while the actual improvements last 15 years at best amounts to a hidden tax on property owners.  By keeping the depreciation period at 15 years we save owners in a typical 100,000 sq foot building XXX.

 

  • Carried Interest
    • By taxing carried interest as a capital gain (15%) instead of as ordinary income (39%).  Margins are very tight within owner proformas when buildings are purchased, this potential change to the tax code not only will stifle the real estate market but also make it even more difficult for owners to spend capital dollars modernizing their buildings to ensure as energy efficient as possible.

 

  • ADA language
    • Current Federal ADA language allows “drive-by lawsuits” without providing buildings the ability to remedy deficiencies.  BOMA is actively lobbying to have the language changed to provide

 

  • Cities charging fees / tax on Common Area Maintenance (CAM) aka recoverable operating expenses.  This is taking the form of Sales Tax on services that have already paid sales tax on material purchased as part of the service agreement.  BOMA is still learning more about this situation and may begin advocating on behalf of its membership.