Automatic CRE space calculator for BOMA and REBNY

By Anna Silva

August 31, 2019 · 2 min read

The CRE Tech audience is experiencing digital brain freeze when it comes to figuring out the best and most efficient choice for their business. Shelfware is rampant within commercial real estate. At Building Engines we strive to build software and solutions that bring high performance to our customers. Our focus is on creating products that replace slow and costly manual systems. As part of this effort we recently launched the Rentable Area Calculator – a time saving feature integrated within the RealAccess Interactive Floor Plan.

Calculating the size of a space or building was always a time drain when I worked as a broker. That was many years ago, and it’s still a major challenge in CRE. Mistakes are rampant – the complexity of BOMA and REBNY are confusing and there is risk in miscalculation. A mathematical error of just 2% can be a million dollar mistake.

— Peter Boritz, CEO

A recent report produced by Flexera Software and IDC concluded that enterprise software spending is being squeezed, and as a result organizations are looking for better ways to align software costs to value. The report reveals that almost all organizations are wasting money on software that isn’t being used (“shelfware”). Building Engines builds tools that work for our users, we want our products to enhance your daily experience, helping you do the things you already do better, faster and more powerfully.

User embracement is the driving force behind creating our space and asset management tools. We hard-coded the math in the RSF Calculator so a user can easily run a forecast of rentable square footage. This tool gives users the power to understand how to market a space or building’s RSF based on the corresponding regional measurement methods. Building Engines derisks common manual mistakes and helps our customers focus on their core responsibilities.

Our application RealAccess not only helps you maximize space and validate accuracy but gives you optics on when spaces are changing from an old measurement to a new one.