WASHINGTON, D.C. – September 1, 2015 – (RealEstateRama) — In June of 2015, the International Property Measurement Standards Coalition released its second global property measurement standard—International Property Measurement Standard: Residential Buildings—for public comment. IPMS: Residential Buildings is being developed by the Coalition to establish a common, international methodology for measuring residential property. It seeks to address existing inconsistencies in measurement practices between and even within markets, which can lead to confusion for consumers and the inability to compare property on a like-for-like basis. IPMS: Residential Buildings will enhance transparency and consistency in property data.
The Coalition is seeking public comment on its consultation draft, which may be accessed on the website www.ipmsc.org. Responses should be sent electronically to . The consultation will close on Wednesday, September 30, 2015.
IPMS: Residential Buildings is the second in a suite of International Property Measurement Standards and follows the November 2014 launch of IPMS: Office Buildings?. Once published, Coalition organizations have committed to implementing the new standard. Further standards will be created to address industrial, retail and mixed-use property.
The International Property Measurement Standards Coalition is a group of more than 60 professional and not-for-profit organizations from around the world, including the Building Owners and Managers Association (BOMA) International, working together to develop and implement international standards for measuring property. For more information, visit www.ipmsc.org.
About BOMA International
The Building Owners and Managers Association (BOMA) International is a federation of 91 BOMA U.S. associations and 17 international affiliates. Founded in 1907, BOMA represents the owners and managers of all commercial property types including 10.4 billion square feet of U.S. office space that supports 1.8 million jobs and contributes $227.6 billion to the U.S. GDP. Its mission is to advance a vibrant commercial real estate industry through advocacy, influence and knowledge. Learn more at www.boma.org.
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