What does rentable building area mean?

Rentable square feet is defined as the usable square feet plus a portion of the building’s common space. Common spaces are areas usable by all tenants in the building and include, but are not limited to, hallways, lobbies, public restrooms and fitness facilities.

How do you calculate rentable building area?

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.

What is considered rentable space?

The rentable square footage comprises of the usable square footage plus a fraction of the building’s shared space. The shared space constitutes the common areas of the building, including restrooms, shared hallways, elevators, stairwells, and storage rooms, cafeteria, lobby, fitness center etc.

How is BOMA rentable area calculated?

The BOMA Standards provide two methods of calculating Rentable Area. Only one method should be used throughout the entire building. In both methods, calculating the Rentable Area requires multiplying the total floor area by a ratio that represents the tenant’s portion of the floor.

How do you calculate net rentable area?

Generally it is the gross area of the full floor less the area of all vertical penetrations (elevator shafts, stairwells, mechanical shafts etc.)

Does rentable square footage include exterior walls?

Usable Square Footage is measured from the outside or outer surface of any exterior walls and windows, including the middle of any interior walls that are adjacent to other spaces, hallways or common areas. Measuring the interior walls of a space will not get you to an accurate measurement of USF.

What is the difference between usable and rentable square feet?

Usable square feet is the square footage in your commercial space that you can physically occupy – or use. Rentable square feet includes common areas like elevators, bathrooms and hallways, meaning you pay for these common area spaces as part of your rentable square feet.

What is a usable area?

The usable floor area of a dwelling is: ‘The total usable internal floor area of the dwelling as measured by the surveyor, rounded to the nearest square metre. The area remaining represents the total of all room areas, hallways and circulation space including cupboards and stairs. …

What is net rentable square footage?

Net rental square feet is a term that combines usable square feet plus a portion of the common area. The difference between usable square feet and net rental square feet is generally between 10% and 15%, with rentable square feet reflecting a higher cost than usable square feet.

How is the rentable area of a building calculated?

This is calculated for the entire building One of the goals of Method B is to determine a Rentable Area by proportionally allocating shared Service and Amenity Areas along with Base Building Circulation to occupants using a single load factor. This occurs by using all shared space in the building to arrive at the load factor.

What is the difference between usable area and floor rentable area?

The Usable Area of a floor is equal to the sum of all Usable Areas on that floor. The Floor Rentable Area is the tenant’s pro-rata portion of the entire office floor, excluding elements of the building that penetrate through the floor to areas below.

What is rentable square footage?

Simply stated, rentable square footage is the area of the enclosed interior space of the building other than holes in the floor, such as stairwells, and elevator and mechanical duct space. If it’s floor that you can stand on, you pay for it, because it is rentable space.

What is the building common area of a building?

Building Common Area The Building Common Area includes those areas of a building that are used to provide services to building tenants, but which are not included in the office area of any specific tenant. It also includes any associated common areas and is applied to the Floor Rentable Area to calculate the Rentable Area.