BOMA SAVES OWNERS MONEY!
Your building's BOMA membership saves commercial real estate owners and managers money, which can optimize the value of the assets. As an industry "watchdog," BOMA proactively advocates and provides early notification of issues that could negatively impact your bottom line. Below are recent and current examples of how BOMA's lobbying and advocacy efforts at local, state and national levels benefit you and your buildings.
- Savings in dollars and time to property owners and managers through ongoing local advocacy efforts in the city of Denver and surrounding jurisdictions. BOMA is the only Colorado commercial real estate organization that regularly works on local issues and played an integral part in the most recent Denver code amendment process. BOMA also works with Denver and other jurisdictions on various issues related to permitting, fire safety, ADA, energy efficiency and other commercial real estate development and owner issues.
- Millions of dollars in savings to property owners through regular monitoring and intervention in utility related cases before the Colorado Public Utilities Commission (PUC). BOMA is a member of the Colorado Energy Consumers Group (CEC) represented by Holland and Hart, and has successfully represented building owners and other large users of electricity. CEC intervened on BOMA's behalf in past rate cases and is doing so again in the current Xcel electric rate case and other cases. By being a participant in PUC cases, the rights and exposure to increased costs are mitigated for BOMA buildings.
- Savings of over $3.50 per square foot in direct costs and long-term revenues to commercial real estate because BOMA worked to eliminate or modify overly stringent and costly codes and standards requirements in the 2015 group of ICC Model Codes. And recently, the BOMA International codes team was there to protect owners' interest in the International Code Council's (ICC) code committees development of the 2018 I-Codes.
- Significant savings to building owners by regular monitoring and taking positions on bills before the state legislature during the annual Legislative Session that begins every January and runs for 120 days. BOMA was active during 2017 and is active now in the 2018 session reviewing and monitoring a variety of bills dealing with issues such as electric vehicle charging, energy topics, taxes and construction defects. BOMA also proactively communicates members' concerns with legislators during the year and during meetings with candidates during election cycles.
National Advocacy Underway
- BOMA is working on ADA Lawsuit Reform. BOMA believes that people with disabilities should have the same access to properties as everyone else, and the obligation to ensure that buildings are fully compliant with ADA regulations is one we take seriously. BOMA believes that there should be safeguards built into the law to protect property owners from legal threats that do not allow them to first identify the ADA violation and then have a chance to remedy the problem before a financial settlement. BOMA members are lobbying in Washington D.C. asking that our congressional representatives support and co-sponsor H.R. 620, the ADA Education and Reform Act. This bipartisan legislation includes a notice and cure provision, which allows business owners 120 days to fix any ADA violations before having to pay legal fees. Plaintiffs retain all their rights guaranteed to them under the ADA, but small businesses are protected from expensive demand letters.
- Preserving ENERGY STAR buildings program is important because BOMA members have a vested interest in reducing their buildings' energy use to save money for tenants and owners. In recent years, Congress has introduced several proposals that would combine the business model of energy efficiency with the social and environmental need for our nation to reduce electricity production, all while still serving the our domestic energy needs.
Position: BOMA, a 10-time ENERGY STAR Partner of the Year award winner, strongly supports the ENERGY STAR buildings program. ENERGY STAR is an example of how the private sector can leverage EPA’s tools to increase energy efficiency and reduce building operating costs.
BOMA membership adds value to your properties and benefits your tenants and the real estate professionals who guide and care for your investment. BOMA dues are usually treated as a building operating expense due to the reduction of other expenses typically passed through to tenants. Visit BOMA International at www.boma.org and Denver Metro BOMA at www.bomadenver.org for more information, or call the BOMA Office at 303-383-4870.