Quick Answer: How Do You Find The Common Area Factor?

What is a core factor?

Main definition.

Core Factor.

The percentage of common areas in a building (rest rooms, hallways) that, when added to the net usable square footage equals the net rentable square footage.

May be computed for a building or floor of a building..

What is a common area factor?

Common Area Factor (CAF) The common area factor, also referred to as “load factor” or “add-on factor,” is the increase in the rentable square footage above the usable square footage.

What is the meaning of core?

the central, innermost, or most essential part of anything. Also called magnetic core. Electricity. the piece of iron, bundle of iron wires, or other ferrous material forming the central or inner portion in an electromagnet, induction coil, transformer, or the like.

What is usable area?

The BOMA 2010 definition of Usable Area is the total of Occupant Area and Building Amenity Area; however, most buildings do not have Building Amenity Classification so Usable Area and Occupant Area will usually be the same number.

Is Balcony considered common area?

Balconies or patios are part of the common elements because they are outside the boundaries of a unit. They are considered limited common elements because their use is limited to the owner or resident of the adjacent unit. … Generally, the owner is responsible for these areas, including the surface and railings.

How do you calculate building load factor?

The building’s loss or load factor is equal to the common area divided by the usable area: 1450 divided by 8,300. This gives a load factor of 17.47%. This means that a tenant would pay their actual usable space plus 17.47%.

How do I calculate net square footage?

NET SQUARE FEET (NSF) NSF is essentially GSF minus unusable space. Areas included in NSF are measured from the inside finished surface of their surrounding walls, excluding any area bounded by structural columns, shafts, or outside finished surfaces.

How do you calculate usable square feet?

First, find the total floor area of a building. Then, subtract all shared square footage to get total usable square footage. (The owner or owner’s agent should be able to give you these numbers.) From there, divide the total floor space by the usable square footage, and you’ll have your load factor.

How is rentable area calculated?

Rentable Square Feet The portion of common space attributed to a specific tenant is calculated by taking their pro-rata share of the building’s total square footage. For example, if a tenant leases 10,000 SF in a 100,000 SF building, 10% of the building’s common space will be attributed to that tenant.

What is considered common area?

A common area is, in real estate or real property law, the “area which is available for use by more than one person…” The common areas are those that are available for common use by all tenants, (or) groups of tenants and their invitees.

What is aboa sqft?

ANSI/BOMA Office Area (ABOA) means the area “where a tenant normally houses personnel, and/or furniture, for which a measurement is to be computed,” as stated by the American National Standards Institute/Building Owners and Managers Association (ANSI/BOMA) publication, Z65.

What is BOMA measurement?

For more than a century, BOMA International has set the standard for measuring buildings. In 1915, BOMA published its first office standard, Standard Method of Floor Measurement. … Today, BOMA International is the American National Standards Institute (ANSI) secretariat for a suite of area measurement standards.

What is building load factor?

In short, the load factor is the percentage of space on a floor or building that is not usable and is expressed using the simple formula of rentable area divided by useable area minus one. …

How do you calculate add on factor?

The add-on factor is the amount of usable square feet in a commercial property divided by the number of rentable square feet. The result of this calculation will be one if the two numbers are identical, but it is always lower than one because some square footage in a building will not be rentable.

How do you calculate common area factor?

Common Area Factor (or Load Factor) Start by finding all the usable (USF) and rentable square footage (RSF) throughout the building, then divide RSF by USF to determine the load factor.

How do you calculate core factor?

The core factor can be calculated by dividing the rentable square footage by the usable square footage. It is imperative that we, as Tenant Rep’s educate our clients on understanding this number in order to allocate costs and compare different options.

What are common areas of a building?

Building Common Areas means those areas within the Building that are provided for the common use of all Building tenants, occupants and invitees, such as, without limitation, accessways, lobbies, common conference and break rooms, corridors, fire vestibules, elevators (if any), foyers, restrooms, janitor’s closets, and …

What is considered common area maintenance?

Common area maintenance is one of the three main components that make up operating expenses, the other two being insurance and property taxes. … Common Area Maintenance (CAM) expenses are fees paid by tenants to landlords to help cover costs associated with overhead and operating expenses for common areas.