Budget Season Resources from BOMA International

August 9, 2021 | By: Molly Looman

BOMA’s Common Area Maintenance Guide

Allocating common area maintenance charges in a mixed-use development space can often confuse. This guide breaks down day-to-day strategies to be used when budgeting and allocating CAM charges specifically in the mixed-use space. From courtyards to construction, the guide makes live-work -play spaces easier to allocate for. This guide also helps with every step of the process. From transitioning from development to operation to providing service to tenants and owners, this guide is comprehensive in its approach. The best way to learn is through others, so the multiple case studies included provide real-life examples to supplement a professional’s working knowledge.

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The Escalation Handbook for Office Buildings

A third edition of the industry standard, this guide lays out critical steps to making sure your building is profitable and that your relationships with tenants remain strong throughout the escalation process. This new edition of the escalation guide contains new information on expense caps, management of an escalation audit and escalating building rating system costs. Maintaining a property’s profitability and creating lasting relationships with tenants requires expert escalations. This guide also works with ALPHA Office Escalations software. This lets property managers and building owners get an overall picture of their building year after year.

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Functional Accounting Guide (Industrial)

Much like its office counterpart, this guide lets professionals compare income and expense items easily. This guide helps industry professionals regardless of company size or ownership structure and includes accounts that help with asset management and property financing. This guide is made so that professionals can compare income and expense line items on a “apples to apples basis.” It also, like its office counterpart, contains a chart of accounts useful for standardizing financials. Beyond this chart, the guide covers, depreciation of assets and amortization of soft costs.

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Functional Accounting Guide (Office)

With an easy-to-use number system for segregating income accounting by type of occupancy and special activity, this guide makes reporting your financials a streamlined process. This guide also includes a chart of accounts for office buildings that has been used as the industry standard for 100 years. This progressive guide has four levels of detail from functional categories to detailed subsets of accounts.  It also accommodates both cash- and accrual-based accounting. Establishing this level of standardization will make office building
operation financial stress a thing of the past.

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