According to new analysis by Kingsley Associates, buildings that have earned the BOMA 360 Performance Program® designation have higher tenant satisfaction scores in all 55 rating areas as compared to commercial office buildings without the BOMA 360 designation. These results continue a multi-year trend of BOMA 360 buildings significantly outperforming those without the designation. Among other findings, tenants in BOMA 360 buildings report being significantly more likely to renew their lease and recommend the property to others.
BOMA 360 is a commercial real estate designation developed by the Building Owners and Managers Association (BOMA) International that recognizes all-around excellence in building operations and management. The program benchmarks building performance in six key areas: operations and management; security and safety; training and education; energy; environment and sustainability; and tenant relations. Since the program’s inception in 2009, more than half a billion square feet of commercial space has been designated.
“These findings make it clear that achieving the BOMA 360 designation is the single most effective way property professionals can increase tenant satisfaction scores,” said BOMA International Chair Rob Brierley, BOMA Fellow, managing director of Real Estate Management Services and Executive Vice President of Colliers Boston. “As our current designees already know, the BOMA 360 program serves as an important training tool for building staff, aligning a property for optimal building operations and management and the best possible tenant experience.”
Kingsley Associates, the global leader in tenant satisfaction studies, measured tenant satisfaction in dozens of quantitative rating areas, including property management, leasing, maintenance, security and property features. Key highlights include:
These findings are based on an analysis of more than 4,400 tenants in nearly 240 BOMA 360 buildings compared to the Kingsley Index℠, the largest and most comprehensive performance-benchmarking database for tenant satisfaction. For more information about the BOMA 360 Performance Program, please visit the BOMA 360 webpage.