BOMA's Experience Exchange Report has provided income and expense analysis for office buildings across the United States and Canada to help building owners and managers build budgets, evaluate operating performance, identify areas for improvement and savings, and communicate performance metrics to owners, investors and prospective tenants.
The new online survey is "smarter" than ever, with new features designed to save you time and improve the accuracy of each submission. New "tool-tip" features define what's required for each line item, and automated data checks help catch errors as you go. New tools also make portfolio submissions easier than ever. The new process also includes new custom search features, which allow participants to generate reports and analysis that match specific property profiles. In addition, participants can export tables to PDF and Excel formats to expedite budgeting and analysis, and create reports and presentations.
The new format can also chart performance graphically. Participants can select any income or expense line and create charts and graphs to illustrate the financial analysis represented in the tables. In addition to comparing performances, participants can also chart trends over time. With a few quick clicks, these graphs can be incorporated into building performance reports to save time.
"BOMA's EER has become an indispensable tool in commercial office building management," said Audrey Doherty, executive director of BOMA San Diego. "The data really provides a clear picture of how building operates and how they compare in the market with accurate up-to-date benchmarking income and expense data."
Starting this year, BOMA is collaborating with the well-respected industry research firm Kingsley Associates to produce a powerful, new online edition of BOMA's EER.
The EER tracks commercial office building financial performance nationally in the United States and Canada, as well as in more than 300 cities across North America, from office rents, retail and other income to real estate taxes, utilities, cleaning, repairs/maintenance, roads/grounds and more. The EER contains information on private and public buildings and features analytical studies of special use buildings including medical office buildings, corporate facilities, financial buildings, agency managed and all electric buildings.
Office building income and expense data is collected annually through the EER Online Survey. This year's survey opened on Feb. 16 and closes April 15. Any commercial office building is invited to share its 2008 income and expenses through the online survey. Unaudited year-end figures are acceptable for submission. Special supplemental questions are included to address the unique operating circumstances for corporate facilities/owner occupied facilities and medical office buildings. BOMA International collects actual income and expense values, aggregates the data and presents the information in terms of averages, medians, upper and lower quartiles for aggregate markets. Data shared from industry submitters is kept in strictest confidence; only aggregate market-level data is reported.
The EER compiles and reports on commercial office buildings, corporate facilities and medical office buildings. Participation is not limited to BOMA members. Any office building can submit data, and locals' participation rates are determined based on all the buildings in the local market that submit data, regardless of whether they are BOMA members.
The EER does not include any data on industrial office buildings, hotels, apartments/multifamily buildings or shopping centers. The more buildings with data included in the report means the more accurately the study represents the commercial real estate industry, and enables BOMA to successfully advocate on behalf of the industry on the federal, state and local levels.
In addition to participating to help the industry overall, survey submitters will receive a free expense performance comparison that maps how their building compares to two or three peers, special discounted rates to buy the EER and access to the 2009 reports and analysis with special notification as soon as the analysis is ready in June.
"Commercial real estate practitioners use the EER to develop budgets, evaluate and refine operating strategies, underwrite and analyze acquisition opportunities and communicate performance metrics to owners and investors," Doherty said.
For further information about the EER survey, contact the BOMA San Diego office at 619-243-1817.