Building Owners And Managers Association International (BOMA)
Definition of "Building owners and managers association international (BOMA)"
Founded in 1908 and located in Washington, DC, BOMA has 7,500 members and 10 regional groups and 6 state groups. It consists of managers, owners, investors, and developers of commercial office buildings. The basic purpose of the organization is to advance the office building industry, sponsor conferences and deliberations, provide education, distribute information, and establish standards. Its educational unit offers certification courses to be a Real Property Administrator (RPA), Facilities Maintenance Administrator (FMA), and Systems Maintenance Administrator (SMA). BOMA has a library, operates a placement service, does research, and offers programs.
Popular Real Estate Terms
Expenditures incurred to develop real estate. An example is the cost to build a shopping center. ...
Schedule which is part of Form 1040 showing income or loss from real estate transactions including net rental income (rental revenue less rental expenses). ...
Escrow, often known as collateral, is a legal concept. A third party is designated to hold an asset, resource, or a sum of money used in a transaction on behalf of the other two parties, ...
In insurance, charging the lowest rate accorded an insurance policy covering a minimum risk classification situation. For example, a homeowner's insurance for a home located within 500 feet ...
We know that the board of directors meaning defines a body of high executives who make significant daily decisions. But what is the definition of board of directors precisely? Typically, ...
Provision in the insurance policy lapses due to premium nonpayment, all unpaid premiums must be paid, and any additional requirements must be satisfied before reinstatement can take place. ...
Metal or wood channel attached immediately below or along the eaves of a building for the purpose of channeling rainwater away from the structure. The gutter prevents rain runoff from ...
An agreement occurring from actions of those impacted, but not communicated in writing or orally. For example, it is presumed that a real estate agent will perform his or her obligations ...
Increase in the value of property arising from holding it. The gain is realized only when the property is sold at which time it is taxable. An example is the increase in the appraised value ...
Have a question or comment?
We're here to help.