ELA: Rentable Area Vs. Usable Area in Lease Administration
Last updated on JANUARY 26, 2017
Applies to:PeopleSoft Enterprise FIN Lease Administration - Version 9.2 and later
Information in this document applies to any platform.
Our definition of Rentable area vs. usable area.
Currently, as delivered, the Rentable Area field is limited to any value which is not greater than the Total Area defined on the Asset Property page.
The field for Useable Area is working correctly in PeopleSoft having the limitation of the Total Area as defined by the Property Asset Total Area,
however this is not the case in the field for the Rentable Area.
According to BOMA (Building Owners and Managers Association International) and the Society of Industrial and Office Realtors,
Useable area ¿ Is the rentable area, less certain common areas that are shared by all tenants of the office building (such as corridors, storage
facilities, and bathrooms). Also is defined in office buildings as the area that is available for the exclusive use of the tenant.
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