February 2011
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Go 360 and Achieve Savings; Share Your Star(dom) and Experience For Better Benchmarks

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Just as BOMA/NY is your partner in success, BOMA International plays a major role in helping our industry succeed by providing information data bases that help gauge performance or access benchmarking standards. But for these resources to succeed, we need your help as a prime source of information. Some key deadlines are coming up in March for the important programs noted below.

BOMA 360 Performance Program – Submission deadline March 4

You must have your application in by March 4 to be considered for the upcoming quarter’s class of designees. But while the designation is conferred quarterly, you can file your application at any time.

Why file?  The latest survey on BOMA 360’s benefits show that through its focus on best practices in six key operating areas, owners and managers have achieved documented savings and much more:

32% - established new operational policies and procedures

28% -   achieved documented operational savings and efficiencies

20%  -  attracted or are competing for new tenants 

66%  -  reported that the designation earned them recognition from owners, tenants and other members of the management team

Find out more details at  http://www.boma.org/GETINVOLVED/BOMA360/Pages/default2.aspx

Experience Exchange Report (EER) – Submission deadline March 31

The BOMA International EER puts the experience of fellow managers into one easy-to-access web document that you will want to reference again and again when working to improve your asset’s performance. It will help you:

• Building better pro formas and budgets. You’ll be able to import data tables in easy PDF and Excel formats to help you streamline reporting

• Chart Trends over time

• Track performance indicators such as energy, maintenance, cleaning costs and more

• Zero in on ways to trim costs and bolster NOI

• Evaluate and refine operating strategies

• Communicate performance/building metrics to owners, investors and tenants more effectively; use report generation and analysis tools to match your property profile

• Verify market information from brokers

• Learn how to do scenario planning and forecasting

• Analyze and underwrite acquisitions, and much more

The EER is issued every year and you can purchase only the sections you want. But like BOMA 360, your support is needed. To share your data—which is kept in the strictest confidence and only market-level information is published—go to https://www.bomaeer.com/BOMA/main_landing.aspx.

Why file? When you participate you’ll get a FREE expense performance assessment that compares how your building is doing up against others in your market. You’ll also gain discounts on EER products and  priority access to 2011 EER reports. And if you’re going 360, it will give you a leg up—the EER is a 360 requirement.

Energy Star Data Sharing – Deadline: Any time

When you or your consultant complete the Energy Star Statement of Energy Performance for your building in Energy Star’s on-line Portfolio Manager, make sure to check the section where you agree to share your data with BOMA International.

Why file? As BOMA International states, "By agreeing to share your energy management progress, you help us highlight our industry’s commitment to reducing greenhouse gas emissions. BOMA uses this data to track the progress of the commercial real estate industry in order to demonstrate the effectiveness of the voluntary marketplace. This allows us to show policy makers that we can reduce energy consumption without new mandates."

You’ll also  become a BOMA STAR, a program recognizing companies that understand that taking such a step helps us demonstrate to policymakers that a voluntary market is working—no mandates or legislation needed.

BOMA also understands that you may be wary of sharing data. Again, the Association states "Be confident that your building’s data is secure; only aggregate data will be reported. For more than 90 years, BOMA has gone to great lengths to ensure that data submitted for BOMA’s Experience Exchange Report® (EER) is kept confidential in the data collection and reporting processes and no one outside key BOMA staff has access to individual building information. This has earned BOMA International the industry’s confidence." 

The same holds true for data shared with the BOMA Master Account through Portfolio Manager. "We do not identify the submitters by name or location within a market, and all published data is aggregated to keep this information confidential".

For more information, go to http://www.boma.org/GETINVOLVED/BOMASTARS/Pages/default.aspx