1. What is the Square Footage Calculation?

The square footage calculation determines the usable area of a property by subtracting common areas from the total rentable space. This is essential in property management for accurate leasing and space allocation.

2. How Does the Calculator Work?

The calculator uses the square footage formula:

Where:

• Rentable Space — Total area that can be leased (sq ft)
• Common Areas — Shared spaces like lobbies, hallways, restrooms (sq ft)

Explanation: The formula calculates the actual usable space available for tenants by excluding shared common areas.

3. Importance of Square Footage Calculation

Details: Accurate square footage calculations are crucial for determining lease rates, comparing properties, and ensuring fair allocation of space among tenants.

4. Using the Calculator

Tips: Enter rentable space and common areas in square feet. Both values must be positive numbers, with common areas not exceeding rentable space.

5. Frequently Asked Questions (FAQ)

Q1: What's included in common areas?
A: Common areas typically include lobbies, hallways, elevators, restrooms, stairwells, and other shared facilities.

Q2: How does this differ from gross leasable area?
A: Gross leasable area includes all rentable space, while this calculation provides the net usable area after subtracting common spaces.

Q3: Should measurements include wall thickness?
A: Typically, measurements are taken from the interior surface of walls for accurate usable space calculation.

Q4: How often should square footage be recalculated?
A: Recalculate after any significant renovations or space reconfigurations that affect the usable area.

Q5: Are there standards for these measurements?
A: Yes, the Building Owners and Managers Association (BOMA) provides standards for measuring floor area in office buildings.