Building Owners and Managers Association (BOMA)

Definition of Building Owners and Managers Association (BOMA)

The Building Owners and Managers Association (BOMA) is an international federation that represents and fosters the commercial real estate industry. Founded in 1907, BOMA offers a wide range of services, educational resources, and networking opportunities aimed at helping building owners and managers enhance their careers and the value of their assets. The association focuses on advancing a vibrant commercial real estate industry through advocacy, professional development, and establishing a consistent standard of operational expertise.

Examples of BOMA Activities

1. Educational Programs: BOMA offers numerous educational tracks, including webinars, certifications, and conferences that focus on the latest innovations and best practices in commercial property management.
2. Networking Events: They organize annual events such as the BOMA International Conference & Expo where professionals can meet, share knowledge, and explore new business opportunities.
3. Advocacy Efforts: BOMA works to influence public policy at the local and national levels, backing regulations that benefit property owners and managers.

Frequently Asked Questions

1. What services does BOMA offer?

   • BOMA provides educational resources, advocacy for industry-friendly policies, research articles, and networking opportunities for professionals in the commercial real estate sector.

2. Can I join BOMA as an individual?

   • Yes, BOMA memberships are available to both individuals and organizations involved in commercial real estate.

3. What type of certifications does BOMA offer?

   • BOMA provides several certification programs including the Real Property Administrator (RPA), Facilities Management Administrator (FMA), and Systems Maintenance Administrator (SMA).

4. Is BOMA only for those who deal with office buildings?

   • No, while BOMA initially focused on office buildings, it now encompasses a variety of property types, including industrial and medical office buildings.

5. How can BOMA help with sustainable building practices?

   • BOMA offers specific guidelines and programs like BOMA BEST (Building Environmental Standards) that help professionals implement sustainable practices in their buildings.

Related Terms with Definitions

• Property Management: The supervision, regulation, and oversight of real estate properties, ensuring they are well-maintained and operated according to owners’ guidelines.
• Commercial Real Estate (CRE): Property used solely for business purposes, such as office buildings, retail spaces, warehouses, and industrial properties.
• Real Property Administrator (RPA): A professional certification denoting expertise in managing a variety of property types, offered by BOMI International in conjunction with BOMA.
• Facilities Management Administrator (FMA): Certification that prepares property managers and operators to manage an efficient, effective facility, focusing largely on the operational aspects.

Online Resources

• Official BOMA Website
• BOMA Membership Information
• BOMA Educational Programs
• BOMA Advocacy Information
• Industry Standards and Resources

References

1. “BOMA International About Us.” Building Owners and Managers Association. Accessed October 1, 2023. https://www.boma.org/BOMA/About_Us.
2. “Membership.” Building Owners and Managers Association. Accessed October 1, 2023. https://www.boma.org/BOMA/Join.

Suggested Books for Further Studies

• “The Complete Guide to Commercial Real Estate Investing” by Alan DeMause
• “Property Management Kit for Dummies” by Robert S. Griswold
• “The Millionaire Real Estate Investor” by Gary Keller
• “Building Owners and Management Lesson” by Gabriel Akinwande

Real Estate Basics: Building Owners and Managers Association (BOMA) Fundamentals Quiz