Our Investment in BOMA Saves Us Money

At approximately ¾ of a penny per rentable square foot, ($.0078 psf), membership in Greater Minneapolis BOMA (Building Owners and Managers Association) saves us between 50 cents and as much as $1.00 per square foot annually in building operating expenses and lower tax obligations, while also increasing the property’s value. BOMA advocates for commercial real estate on a broader range of issues than any other real estate organization in our region. Over the past year, BOMA has successfully advocated on our behalf on commercial real estate taxes, elevator code changes, leasehold depreciation, energy efficiency tax deductions and rebates, transportation investment and electric rate case intervention.

Our support from each of the buildings we own or manage is critical to
supporting the association’s work on our behalf.

BOMA is a national leader in energy efficiency initiatives and has worked tirelessly with government to avoid mandates and allow property owners to make decisions that are best for each of our properties. BOMA is also the leading provider of professional commercial real estate education, which makes our management staff better stewards of the real estate we manage.

What are BOMA “Building Dues?”
A century ago, Greater Minneapolis BOMA’s founders recognized that the benefits of their collaborative efforts would, in part, be realized according to the sizes of their buildings. For example, BOMA’s tremendous efforts to reduce C/I property taxes produced savings on a square footage basis. Our founders, therefore, set up a dues structure that combines a service charge for individual members with assessments for buildings according to their size. At just $.0078 per square foot, the costs of building dues are justified many times over by the savings to buildings that can be directly attributable to BOMA’s work.

BOMA dues have repeatedly withstood scrutiny as a legitimate operating expense because tenants and their advocates recognize the value BOMA brings them.

We have always relied on the cooperative participation of property owners enrolling their buildings to help keep building assessments at a reasonable level for all members.

Your support from each of the buildings you own or manage is critical to keeping the association strong!

Building dues are determined by the building’s rentable square footage multiplied by $.0078 per square foot, with a minimum charge of $500.

Measure our dues against the economic and regulatory environment in which you would be operating without BOMA and we know you’ll see this is a great investment! Be sure to include building dues in your budget.