BOMA’s Role in the Commercial Real Estate Industry
BOMA, or the Building Owners and Managers Association, is an international trade association for commercial real estate professionals. The organization, which was founded in 1907, sets many of the standards for how commercial structures are measured. BOMA standards particularly focus on office, industrial, multifamily and retail properties. In addition to creating and updating building measurement standards, BOMA advocates for issues of interest to the commercial real estate industry, including capital gains tax relief, private property rights, and energy efficiency tax deductions. It also publishes BOMA Magazine, which helps CRE professionals stay up to date on various developments within the industry.
BOMA is considered a federation, as it consists of approximately 90 chapters across the U.S. and 18 international affiliates in countries including Canada, Australia, the United Kingdom, Brazil, China, Japan, Korea, Mexico, New Zealand, Russia, Panama, South Africa, Finland, Indonesia, and Greece.
Who Can Become a Member of BOMA?
Any individual whose primary job or income is generated from commercial real estate can become a member of BOMA. Most members are investors, managers, analysts, property owners, or others closely associated with corporate or commercial real estate. Commercial real estate brokers, commercial mortgage brokers, and commercial architects also generally qualify. By becoming a member of BOMBA, CRE professionals can gain access to a network of individuals in the commercial real estate industry, as well as take advantage of BOMA’s various educational programs.