RENTABLE AREA SURVEY METHOD 3
A rentable area survey (RAS) Method 3 is completed by a surveyor for retail sites like shopping centers, or strip shops as well as retail areas that form part of a commercial complex, multi-use complexes, medical centres and the like. Method 3, Retail, also accounts for exclusive use areas like decks or balconies, and In/go, Out/go features along the entrances to tenancies.
Rentable area surveys for retail shops
We know incorrectly quoted building areas can lead to costly disputes, even litigation. As industry leaders in the preparation of Rentable Area Surveys (PCNZ / BOMA Surveys), we ensure our rentable area surveys are undertaken to the highest level of accuracy by utilising the latest surveying equipment.
Our experienced surveyors and technicians offer an unbiased and impartial interpretation of the Property Council of New Zealand guidelines. For every client, you get access to our many years of experience in determining rentable areas. Realserve provides accuracy and clarity for all Rentable Area Survey Methods to deliver peace of mind for an agent, owner, or tenant.
With 20 years of experience accurately determining rentable areas, we understand it is essential to safeguarding the interests of both tenants and owners alike. A small miscalculation in the area of a property can have a significant impact when multiplied over the course of a 10 or 20-year lease, so having a precise Rentable Area Plan is a crucial.
These were once called BOMA Surveys and we can prepare all types (or renew) them for new or existing commercial offices, retail and industrial premises to determine the rentable areas in accordance with the PCNZ/PINZ Guide.
When do you need a rentable area surveys?
Yes, if you don’t have a plan, your plan is not clear, or your plan is not compliant with the current method of measurement guidelines. The below questions will assist you in determining whether the plan you have is suitable:
- Have your plans been prepared by a Rentable Area Survey specialist?
- Do your plans clearly state a survey date?
– Plans should be ‘as measured’ I.e. NOT based on architectural or marketing drawings
– Have there been multiple revisions? If so, are you sure you have the most current version?
- Do your plans state that they are measured in accordance with the current method of measurement guidelines?
- Has the correct method of measurement been applied?
– Have there been any changes to the premises since the areas were calculated? The method to be used is determined by the use of the premises and the inclusions and exclusions are unique to the different methods.
NOTE: A change in premises use will most likely affect the area and new calculations will be required – for example, the areas may be calculated to the external face of a wall rather than the internal face, increasing the area.
- Are the plans clear and do they provide the information you need?
– Are inclusions clearly outlined? E.g. Exclusive Zones (Outdoors) and other negotiated areas
– Are exclusions clearly outlined? E.g. Base building areas, voids over stairs, mezzanines, low head heights at stairs, etc.
– Are lease lines labelled? E.g. Line of Tenancy Produced (LTP) where lease lines have been negotiated.
If you cannot confidently answer any of the above questions, your local Realserve representative can call you to discuss your Rentable Area Survey requirements
Our typical process
We know incorrectly quoted building areas can lead to costly disputes even litigation. As industry leaders in the preparation of Rentable Area Surveys (PCNZ / BOMA Surveys), we ensure our surveys are undertaken to the highest level of accuracy by utilising the latest surveying equipment. Our Surveyors and technicians offer an unbiased and impartial interpretation of the Property Council of New Zealand guidelines and offer to our clients our years of experience in determining rentable areas. Realserve provide accuracy and clarity in Rentable Area Surveys, and peace of mind for the agent, owner, and tenant.
We specialise in:
RENTABLE AREA SURVEYS (METHOD 1 & 2)
For Commercial Properties, calculating tenancy areas in Office Buildings and Office and Business Parks
RENTABLE AREA SURVEYS (Method 3)
For Retail Tenancies, calculating tenancy areas in Shopping Centres, Strip Shops and Free-Standing Shops in suburban streets.
RENTABLE AREA SURVEYS (Method 4)
For Industrial Sites, calculating tenancy areas in Warehouses, Industrial Buildings, Free Standing Supermarkets and Showrooms
With over 18 years of experience in accurately determining rentable areas, we understand it is essential to safeguarding the interests of both tenants and owners alike. A small miscalculation in the area of a property can have significant impact when multiplied over the course of a 10 or 20-year lease, so having a precise Rentable Area Plan is a requirement.
The property council believes the best practice approach to measuring floor space is as follows;
Step 1 – Agree on the methods to be used
Step 2 – Agree on the measurements obtained
Step 3 – Negotiate the rental rates
We utilise the latest surveying technology to capture our data to produce our surveys. Using the latest CAD software programs everything is captured and processed accurately to start producing survey plans. We only use the latest software tools including AutoCAD & Revit. Once our plans are drafted they go through an intensive QA process via an independent audit to ensure that what we have captured is delivered to the highest levels of accuracy possible.
- Initial consultation to ensure we can meet your needs.
- Agree on a scope of work.
- A site visit is organised with one of our qualified technicians with the necessary data collection equipment.
- All data is then processed via our team located in one of our offices around the Country.
- All plans or drawings are then independently reviewed via our QA process.
- All deliverables are then created for viewing in PDF, AutoCAD or Revit.
Rentable Survey Plan Samples for Method 3
See some of our case studies
Our long-term client recently purchased an historic hotel and apartments located on a key intersection in the CBD. The latest plans and leasing documentation were over 15 years old.
Our client recently purchased an historic site on the Auckland CBD fringe. Leasing documentation that changed hands at the time of purchase ranged from area estimations through to signed photocopies of irrelevant data.
This is the industry benchmark for measuring rentable areas for Retail, Industrial and Office premises that is followed precisely by the Realserve team in Auckland.
We helped this client visualise a potential warehouse location in 3D using a traditional 2D survey to determine the suitability for leasing.
With their tenant’s lease due for expiry our client needed to start presenting options to potential tenants quickly & give their agent all the right tools.