News
Faulty Measurements, Be Gone!
January 17, 2014
The International Property Measurement Standards Coalition (IPMSC) has launched a public consultation (closing April 4) on its new International Property Measurement Standard for office buildings, which'll provide consistency in measuring office space internationally (benefitting investors, lenders, agents, valuation experts, and tenants). BOMA International VP Lisa Prats (pic), who's on the IPMSC Board of Trustees, says it "will provide a true basis for cross-border comparison, transparency, and self-regulation." JLL research shows that, depending on the method used, a property's floor-area measurement can deviate as much as 24%. (Like when our doctor asks how much we weigh.)
