{"id":98,"date":"2025-03-31T16:29:45","date_gmt":"2025-03-31T20:29:45","guid":{"rendered":"https:\/\/www.bu.edu\/globalprograms\/?page_id=98"},"modified":"2025-06-17T10:50:56","modified_gmt":"2025-06-17T14:50:56","slug":"real-estate","status":"publish","type":"page","link":"https:\/\/www.bu.edu\/globalprograms\/global-activity-support\/get-professional-support\/real-estate\/","title":{"rendered":"Real Estate"},"content":{"rendered":"<p>Prior to seeking a signature on any agreement to lease, purchase, and\/or renovate real estate for your activity, the following considerations need to be addressed for discussion with the Office of Campus Planning and Operations\u00a0and Office of the General Counsel (OGC):<\/p>\n<ul>\n<li>compliance with University standards and local zoning laws and building codes (fire\/safety)<\/li>\n<li>mitigation of risk of seizure by the local government<\/li>\n<li>engagement with local counsel, as needed<\/li>\n<li>determination of the economic cost of the arrangement<\/li>\n<li>determination of local property taxes<\/li>\n<li>obtaining appropriate liability and property insurance coverage<\/li>\n<\/ul>\n<p>The above guidelines primarily apply to multi-year leases or any purchase of real estate, though. To minimize risks and ensure proper liability and property insurance coverage, as well as other necessary administrative support, please provide a copy of <b>all<\/b> signed leases (including short-term) to the Office of Campus Planning and Operations.<\/p>\n<p>Depending upon the location, scope, and duration of the real-estate requirement, the Office of Campus Planning and Operations will either assist with securing a location or request that you locate the desired space and send a prospective lease to them for approval.<\/p>\n<p>Additionally, the Office of Campus Planning and Operations will liaise with the following units on campus:<\/p>\n<p><strong><a href=\"http:\/\/www.bu.edu\/ogc\/\">Office of the General Counsel<\/a><\/strong><\/p>\n<ul>\n<li>provides legal and other advice related to leases or purchase agreements<\/li>\n<li>ensures that leasehold improvements are performed in compliance with local building and zoning regulations<\/li>\n<\/ul>\n<p><strong><a href=\"http:\/\/www.bu.edu\/cfo\/risk-management\/\">Risk Management<\/a><\/strong><\/p>\n<ul>\n<li>addresses liability insurance issues<\/li>\n<\/ul>\n<p><strong><a href=\"http:\/\/www.bu.edu\/cfo\/\">Financial Affairs<\/a><\/strong><\/p>\n<ul>\n<li>addresses issues related to compliance with accounting standards for real estate transactions<\/li>\n<\/ul>\n<p>All lease or purchase agreements will be processed through the Office of the General Counsel and signed by an authorized University signatory. <b>Please be aware that neither departmental nor field staff has the authority to enter into a lease agreement in the University\u2019s name.<\/b> Copies of all related legal, government, and other project documents are held by the Office of the General Counsel, <a href=\"http:\/\/www.bu.edu\/cfo\/comptroller\/departments\/general-accounting\/\">General Accounting<\/a>, the Office of Campus Planning and Operations, and the foreign location, where necessary.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Prior to seeking a signature on any agreement to lease, purchase, and\/or renovate real estate for your activity, the following considerations need to be addressed for discussion with the Office of Campus Planning and Operations\u00a0and Office of the General Counsel (OGC): compliance with University standards and local zoning laws and building codes (fire\/safety) mitigation of [&hellip;]<\/p>\n","protected":false},"author":1301,"featured_media":0,"parent":88,"menu_order":4,"comment_status":"closed","ping_status":"closed","template":"","meta":[],"_links":{"self":[{"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/pages\/98"}],"collection":[{"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/users\/1301"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/comments?post=98"}],"version-history":[{"count":3,"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/pages\/98\/revisions"}],"predecessor-version":[{"id":196,"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/pages\/98\/revisions\/196"}],"up":[{"embeddable":true,"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/pages\/88"}],"wp:attachment":[{"href":"https:\/\/www.bu.edu\/globalprograms\/wp-json\/wp\/v2\/media?parent=98"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}