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Home Advocacy BOMA Saves You Money

BOMA Saves You Money

Your BOMA membership saves you money, which can optimize the value of your assets. As an industry "watchdog," BOMA proactively advocates and provides early notification of issues that could negatively impact your bottom line. Below are recent examples of how BOMA’s lobbying and advocacy efforts at local and national levels have benefited you and your buildings:

• Millions of dollars in savings to property owners through regular monitoring and intervention in utility related cases before the Colorado PUC. Currently representing building owners by intervening in cases regarding DSM issues, environmental liability and the Clean Air-Clean Jobs Act (CACJA) and anticipate intervening in a major PSCo rate case later in 2011.

• Thousands of dollars in savings to property owners because Denver Metro BOMA was successful in sponsoring HB 09-1365 in the 2009 Colorado legislative session. HB 1365 modified the requirements of the property tax exemption for a state entity that enters into a rental or lease agreement so that the application of the property tax exemption is revenue neutral to property owners. Without the clarifying language, property owners may not have been able to collect the proper amount of property taxes from other tenants and could have potentially been out of pocket for the exempt amount of taxes.

• Almost $2 billion in tax savings to the industry when Congress approved extension of the 15-year depreciation period for tenant improvements, the extension of tax deduction for brownfields remediation costs and the tax deduction for energy efficiency retrofits to new and existing buildings.

• $620 million in annual tax savings to the industry as a result of the passage of the Tax Relief Extension Reconciliation Act which extends the tax cut on capital gains and dividends.

• Terrorism Insurance victory - priceless. Following 9/11, BOMA worked with Congress to enact the 2002 Terrorism Risk Insurance Act and the Terrorism Risk Insurance Extension Act of 2005 (TRIEA). BOMA recently worked with Congress to extend the federal terrorism risk insurance program for an additional seven years through December 31, 2014.

• Savings of over $7 billion 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 impacting fire protection, occupant accessibility and egress, structural integrity, plumbing and mechanical systems, and a host of other areas impacting new construction and existing buildings alike.

• Huge Savings to property owners because BOMA secured a broad grandfather clause to the ADA Accessibility Guidelines exempting all buildings constructed or altered in compliance with the 1991 regulations, and ingetting an extended period to comply with the new rule.

  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.