The second option has 10,000 usable square feet and a 15% load factor, which means the rentable square feet for this option would be 11,500.In the first building, the tenant’s base rent would be based on 12,000 square feet, whereas the second building would charge rent based on 11,500 square feet.
The second option with the lower load factor would save the company money since they would be paying less per month for the same amount of usable space.However, the smaller load factor also means there are less common areas in the building, so paying more in rent may be necessary if more common area is desired.Gross square feet, also referred to as gross area, simply refers to the total square footage of a building. By default, Revit LT creates 2 area schemes: Gross Building: Total constructed area of a building.
The common area can include the fitness area, lobby space, meeting space, or other open areas. Is there a way to make a new type of area plans called "Usable?" By Wish List System in forum Revit Architecture - Wish List It includes everything accounted for in usable and rentable square feet, along with building core, elevator shafts and other areas of the building that are used for maintenance and operations. The shared space constitutes the common areas of the building, including restrooms, shared hallways, elevators, stairwells, and storage rooms, cafeteria, lobby, fitness center etc.If RSF is 5,000 and the USF is 4,000, then the CAF factor is calculated as follows:This is the difference between the rentable square footage and the usable square footage. If it does, a space like an electrical room or a janitor’s closet might also be considered usable space if their use is dedicated for that floor.Rentable square footage, which is the amount that your total rent will be based on, includes all of the usable square footage plus a percentage of the common areas in a building. Rentable square footage is your usable square footage PLUS a portion …
By danny.ferguson in forum Revit Architecture - General
The only spaces excluded are open areas like pools, playing fields, courts, light wells, parking lots, and unexcavated basements.Gross square footage is an important metric for planning and budgeting in construction.
You can create additional area schemes as needed. Demystifying the Common Area Factor: Rentable Vs Usable Square Feet Having both is ideal, as it will give you a better picture of how much space your business will have for its own use, and how much common space will be available to you.It’s best not to make any decisions based solely on the rentable square footage, since you could end up being unpleasantly surprised to find that a smaller-than-expected percentage of that is actually usable square feet exclusively for your company.Likewise, you won’t want to make your determination on what space to rent with only the usable square feet figure available, since that is incomplete. Rentable Area This method measures the tenant's pro rata portion of the entire office floor, excluding elements of the building that penetrate through the floor to areas below. Usable Area on a floor can be converted to Rentable Area by the use of a conversion factor. How about Usable? For example, if a tenant leases 10,000 SF in a 100,000 SF building, 10% of the building’s common space will be attributed to that tenant. I realize the room tool will give me a usable, inside wall area. This does not mean the tenant will only be allowed to use 10% of the space, but rather that 10% of the common area square footage will be added on to the tenant’s square footage number in the lease.Rentable square feet is used to determine your annual base rent expense. Rentable: Area measurements based on the standard method for measuring floor area in office buildings. It also includes space taken up by things like columns or recessed entries.For full floor tenants, the usable square feet extends to everything inside the boundaries of the floor, including non-usable areas like janitorial closets or mechanical and electrical rooms. By AP23 in forum Revit Architecture - General Hi all, Doing more BOMA calcs via revit. Property owners You get the load factor when you divide the rentable square feet of the entire building by its usable square feet. The common area can include the fitness area, lobby space, meeting space, or other open areas. Area Plans - Gross Building vs. Rentable. For instance, if you were told that there was a 5,000 square feet office space available at a rental rate of $XX.XX per square foot, that would be misleading because the total rent will not be based on usable square feet – it will be based on the rentable square feet figure.If a broker or landlord has not supplied you with the rentable square feet, but can give you the load factor, you can calculate the rentable amount yourself using the formula mentioned above: usable square feet x load factor = rentable square feet.Now you have a little extra insight into commercial real estate and how those square footage figures you see in SquareFoot is a new kind of commercial real estate company. Other non-occupiable usable area, it is assumed, is prorated to the building (Building Amenity Area). Rentable office space means the usable square feet of the office space plus a pro-rata share of building common areas.
Would you recommend to quote the rent according to usable area or rentable area? It also incorporates floor common areas, like kitchenettes, hallways, or reception areas specific to the floor’s use. Once you walk into your suite, the area inside is considered usable square feet. In our office we deal with a ton of retail and office leases for all types of landlords and tenants. Obviously this includes all of the Whether certain types of spaces are counted as usable might depend on whether or not a company has an entire floor to itself. Common areas can include lobbies, hallways, restrooms that are open to all, conference rooms, and other spaces that can be shared amongst the different tenants in the building. Area Plans - Gross Building vs. Rentable. Pro-rata means that tenants pay for these common areas in proportion to the amount of space they lease in the building. How about Usable?