Buying Houston Office Space? Know The Jargon
While searching for the perfect Houston office space
, one of the most important, if not THE most important, factors to consider while taking the final call is how much space would be required by your business. Estimating the current staff strength and how much you are willing to expand in the near future would give a fair bit of idea about your space requirements. However, don't think that just knowing this number is going to see you through, for there are many other details that you need to know.
This is because the kind of jargon that is used in the real estate market can easily confuse someone looking for Houston office space. And that is why you should know some of the standard terms that are standardized by the Building Owners and Management Association (BOMA). Following is a list of the same that I have compiled from my own experience in the field. By having a glance at these terms, you would be able to understand each and every aspect related to the space offered in an office, and thus, would be able to invest properly.
Usable ares: This refers to the actual area that can be occupied for office operations. The usable area of any building can change over a period of time owing to remodeling and renovations, and thus, it is important to have up to date information. Building codes can also have an impact on the amount of usable area. Calculation of this area is done by calculating the space from the outside wall to an interior wall or divider. In common parlance, this is also known as net rentable area.
Floor rentable area: This is a measure of the tenant's pro-rata portion of the Houston office space, and excludes the area lost due to vertical penetrations like elevator shafts or stairs. Unlike the usable area, the floor rentable area is a permanent, non-changing number, and is not affected by any kind of remodeling. Further, it also includes the tenant's portion of common areas like restrooms, lobby, etc.
Building common area: This is the common service area shared by tenants like restrooms, lobby, etc. As mentioned above, it is a part of the floor rentable area, but is not part of the usable area.
So now that you have a sound understanding of the different terms that are used, I'm pretty certain that you would be able to get a good deal while looking for your
Houston office space.
by: asheraubrey
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