Emerging Leaders want to make an impact
Finding the information you need can be difficult. To make it easier we have gathered essential resources about the real estate industry.
Frequently Asked Questions
→ General Knowledge
BOMA is the Building Owners and Managers Association made up of eleven federated locals across Canada. BOMA is an association dedicated to members of the commercial real estate industry, including owners and managers as well as those professionals providing goods and services to the industry.
“BOMA Canada facilitates national initiatives and the exchange of ideas that support our member associations in the promotion of education, advocacy, recognition of excellence and networking.”
BOMA Canada’s Mission is to represent the Canadian commercial real estate industry on matters of national concern, to develop a strong communications network between its local associations, BOMA International and other real estate associations and promote professionalism of its members through education programs and effective public relations activity.
For more Information – http://bomacanada.ca/aboutbomacanada/
BOMA is for professionals in commercial real estate. Members include asset managers, property managers, building owners, trades and service providers.
A group of individuals in the Commercial Real Estate Industry that are 40 years and under that come together, host events and support each other to succeed in the industry .
Connecting the commercial real estate industry together to share ideas and establishing best practices, providing education around real estate topics that are valuable to commercial real estate managers, operators and suppliers.
BOMA British Columbia, Edmonton, Calgary, Regina, Manitoba, Toronto, Ottawa, Quebec, New Brunswick & Prince Edward Island, Nova Scotia and Newfoundland.
Look up your local chapter on the BOMA Canada website; http://bomacanada.ca/community/localboma/, check out your local chapter website for events and learning resources, join their local mailing list and attend events.
All local BOMA chapters have their own committees and almost every chapter has a committee for young people in the industry. They may be by different names; Next Generation or Young Professionals. Just ask your local chapter!
BOMA Canada has 11 regional associations and 13 international affiliates.
BOMA International is a federation of 91 BOMA U.S. associations and 18 international affiliates, including BOMA Canada. Founded in 1907, BOMA represents the owners and managers of all commercial property types. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge.
BOMA International is a primary source of information on building management and operations, development, leasing, building operating costs, energy consumption patterns, local and national building codes, legislation, occupancy statistics, technological developments and other industry trends.
Learn more about BOMA International here – https://www.boma.org/
Monitors and lobbies pertinent U.S. legislative, regulatory and codes/standards issues.
Publishes The BOMA Magazine, the official publication of BOMA International
Produces a variety of leading industry publications, including:
- A comprehensive suite of building measurement standards, including Office Buildings: Standard Methods of Measurement (ANSI/BOMA – Z65.1 2010
- The Experience Exchange Report® (EER®) – the industry benchmark for nearly 100 years, which contains income and expense data for office buildings across North America
- The industry’s first green lease guide
Hosts the BOMA International Annual Conference & Expo every June.
Conducts seminars on topics including office marketing and leasing, asset management, technology, and security and emergency preparedness planning.
BOMA International sponsors a Winter Business Meeting and hosts the National Issues Conference. The Outstanding Building of the Year (TOBY) Awards are the industry’s most prestigious and coveted awards in commercial real estate. The TOBY honors buildings based on community impact, tenant/employee relations programs, energy management systems, accessibility for disabled people, emergency evacuation procedures, building personnel training programs and overall quality indicators.
Designates excellence in building management and operations through the BOMA 360 Performance Program, a ground-breaking program designed to validate and recognize commercial properties that demonstrate best practices in all major areas of building operations and management.
The Building Owners and Managers Institute (BOMI) of Canada. It was created by members of BOMA who recognized the need for quality education in the commercial property profession. BOMI Canada is a certified educational institute that provides industry professionals with career-building education.
Fore more Information – https://www.bomicanada.com/WhoisBOMICanada.aspx “
Each chapter has it’s own name and process for applying to become a BOMA member as a service companies/suppliers/vendor/contractor. Reach out to your local chapter to find out what the process is.
BOMA BEST is Canada’s largest environmental assessment and certification program for commercial buildings that recognizes excellence in energy and environmental management.
For more information – http://bomacanada.ca/bomabest/
The BOMA 360 Performance Program® sets the standard worldwide for operational best practices in the commercial real estate industry. For building owners and managers who want to help their properties stand out from the crowd, there is no clearer mark of excellence than achieving the BOMA 360 designation.
Earning the prestigious BOMA 360 label demonstrates that a building is outperforming the competition across all areas of operations and management. It also translates into measurable savings and operational efficiencies, as well as higher levels of tenant satisfaction.
A property manager works for landlords, handling the day-to-day details of running a building. Their role includes tenant relations, accounts receivable, accounts payable, operations and so much more.
“The Real Property Administrator (RPA) designation program serves the educational needs of both third-party property managers and corporate property managers. The courses familiarize students with the many aspects of operating a commercial building. Additionally, it helps you integrate these issues into the broader task of property management (BOMI Canada).
For more Information – https://www.bomicanada.com/en-us/coursesdeliveryoptions/designations/realpropertyadministrator.aspx “
An Asset Manager develops strategies to maximize the value and cash flow of the properties they manage. They conduct financial analyses, create annual budgets and business plans, manage risk and more. In essence, they act like a property owner and look out for the real owner’s best interest.
The most prestigious buildings with the most amenities in the best locations. They generally are the most attractive buildings built with the highest quality materials and construction methods. Additionally, these buildings usually have a professional manager, good access, and are typically located in highly visible areas on high traffic streets. Due to their exceptional quality, Class A Buildings are usually leased to reputable tenants at the highest rental rates in the market.
- High-rise building in prime central business district.
- A flagship building in its market.
- Architecture – Concrete and steel construction, distinctive design, attractive look, superior exterior finishes on the curtain wall, superior interior quality finishes in main lobby and common areas, including elevators and washrooms. Fairly recent construction or very well maintained and/or recently renovated building. Well designed and good-size layout to accommodate one or several tenants on the same floor.
- Strong identifiable location (well known address) – Convenient access (public transportation, etc.).
- Managed by a professional firm. Premier tenants.
- Highest rental rates.
- Strong market presence.
- State-of-the-art systems that meet industry standards – automated mechanical, electrical and safety and security systems. High capacity back-up power system.
- Elevators- Sufficient number of elevators for the number of floors and building population.
- Environmental – Certification (BOMA BEST, LEED). Responsible sustainability practices in place.
- Security 24/7 – controlled access system, camera monitored. For smaller buildings or those located in a outlying areas, access control system in place as well as alarm system with off-site monitoring.
- Built by reputable developer and contractor.
- Parking – Sufficient private and public parking to accommodate tenants and visitors. 24/7 access for building tenants with security controls in place. Bike stands and electric vehicle charging stations have become the norm.
- Tenant services – Experienced and professional manager providing centralized tenant service call system, including maximum response time, concierge services, tenant relationship program, regular tenant activities such as barbecues and holiday breakfasts, new tenant welcome committee, etc.
- Amenities – Enclosed weather protected walkway connection, conference centre, fitness centre, service oriented retail such as convenience store, cafeteria/ food court type restaurants, dry cleaning services, ATM and Wi-Fi. For stand-alone buildings not located downtown, cafeteria/food court restaurants and coffee shops provide above-average services to tenants.
These buildings are a grade below Class A. Generally, they are slightly older buildings with good management and quality tenants. It is not uncommon for value-added investors to target these buildings with the intention of renovating them back into Class A buildings. Class B buildings are well maintained overall and quite functional. Class B office buildings commonly have an acceptable curtain wall finish, adequate (but not state of the art) mechanical, electrical and safety and security systems, and a mid-quality level of interior finish. Class B buildings compete for a wide range of users at average rental rates for their market area.
- A grade below Class A.
- Slightly older buildings– Good management, quality tenants.
- Building finishes– Fair to good.
- Good quality systems – Not at Class A level.
- Can be targeted by investors planning renovations to restore them to Class A.
- Well maintained – Functional.
- Average rental rates.
This is the lowest grade for useable office buildings. These office buildings are generally older and may be located on less desirable streets in older sections of the city, for example. Many of these buildings usually have higher than average vacancy rates for their market. Older, less desirable architecture, limited infrastructure and antiquated technology define these buildings. For these reasons, Class C buildings offer lower rental rates and can be more difficult to lease. Many times these buildings are targeted for re-development. The curtain walls and the mechanical, electrical and safety and security systems of Class C building are generally dated, and the quality of finish is often below
average. These buildings attract tenants who sign short-term leases for functional space at below average rental rates.
- Lowest grade for useable office buildings.
- Older office buildings.
- Located on less desirable streets in older sections of the city.
- Higher than average vacancy rates for their market.
- Less impressive architecture.
- Limited infrastructure.
- In need of extensive renovations.
- Obsolete technology.
- Lower rental rates – may be difficult to lease.
- Often targeted for re-development.
- Tenants requiring functional space.
Categories for MURBs include:
- Low Rise (2 to 3) – the building must comprise a minimum of two (2) floors above ground, and four (4) apartment (dwelling) units.
- Mid Rise (4 to 9).
- High Rise (10 +).”
To qualify as a Hospital, the following requirements must be met:
- More than 50% of the gross floor area of all buildings must be used for general medical and surgical services; AND
- More than 50% of the licensed beds must provide acute care services; AND
- These facilities must operate on a 24/7 basis.
A Medical Office Building designation applies to buildings that meet the following requirements:
- More than 50% of total facility space is used primarily to provide diagnosis and treatment (no major surgery) for medical, dental, or psychiatric outpatient care;
- These facilities do not operate on a 24/7 basis.
A Long Term Care facility designation applies to buildings that meet the following requirements:
- More than 50% of the total facility space is used primarily for long term acute care, cancer care, rehabilitation, and/or psychiatric care;
- These facilities operate on a 24/7 basis.
Navigate to bomacanada.ca and scroll down, and click “Signup for the BOMA Canada Newsletter”. You can also contact your local office and ask to be added to their mail list.
Some Locals offer discounted membership rates for Emerging Leaders. Check with your local to see if you qualify for a discounted membership rate.
The Membership Process for BOMA is different at each local level, contact your local chapter for more information. To be involved beyond just membership, it’s recommended to volunteer. Ask your local BOMA administrators how you can be even more involved!
Typically your company must be a BOMA Member to join, however exceptions do exist. Contact your local BOMA office and they will advise what can and cannot be done.
BOMA Canada has over 3,100 members representing over 2.1 billion square feet of commercial real estate in Canada.
Non-property management companies include contractor, vendor, supplier and service members.
The BOMA Emerging Leaders National Committee suggests a balance of 50% engagement between Contractor/Vendor/Supplier/Service members with Commercial Real Estate Professionals when looking at the Emerging Leaders committee.
Membership is administered at the local level.
The Building Owners and Managers Exhibition Conference. Canada’s premier annual conferences and exhibitions for commercial real estate industry professionals.
Yes, Emerging leaders receive a reduced rate for professionals 35 years and younger. Current rate is $895 per ticket, but even lower if you register early.
St Johns, NFLD
Vancouver, British Columbia on September 22-24
TOBY Award: The Outstanding Building of The Year Award, awarded annually at the regional level, national level and international level. Different categories exist for different asset classes (eg. office building under 100,000 SF, corporate facility, historical building, and more). a BOMA BEST certification is a pre-requisite.
Earth Award: Earth Awards recognize excellence in energy efficiency amongst commercial properties. Having a BOMA BEST Certification is a pre-requisite, and the awards are issued annually at the regional level.