Imagine the size of a baseball stadium. Now imagine it filled with seats. That would be its “total living area,” or TLA. It is measured in acres and usually refers to floor space in which humans can physically move around and walk comfortably. Many cities have plazas that are counted as total living areas, such as New York’s Penn Plaza.
What is Total Living Area?
Total Living Area is a term that refers to the total size of all habitable land and water with the extent of ownership rights. This property could be either private or public space, and it’s important because the private space is owned by a certain entity and held by trustees over time. TLA usually shows up in real estate documents, legal contracts, and property maps.
Most of the time when people are thinking about real estate, they are thinking in terms of area. But what is an area, really? The area is defined as the total size of a rectangular figure or object. In real estate, the area is often used to compare one piece of property against another.
How to Calculate TLA
To calculate the total living area (TLA) of a property, you must take into account both the exterior and interior square footage.
The exterior square footage is measured on the exterior walls and covers everything above the ground level, including any yard or patio. The interior square footage is measured from the floor to the ceiling in every room and includes any basement or attic space. Add these two figures together and you’ve got your TLA.
For example, if you have a 2,000-square-foot house with an exterior perimeter of 100 feet and an interior perimeter of 150 feet, your TLA would be 300 square feet. If you ADD the exterior and interior square footage together (2,000 + 100 + 150 = 300), it’s clear that you are dealing with an area larger than 300 square feet – which is why we call it “total living area.”
If you are like most homeowners, you probably don’t think about square footage very often. But if you want to know how much space your home occupies or how much land it occupies, you need to calculate the TLA. You can calculate TLA by taking the length of a side of your house and multiplying that by the width of that side. For example, if your house is 240 feet long and 100 feet wide, your TLA is 4,000 square feet.
Why TLA is so important
Total living area (TLA) is one of the most important factors you should consider when calculating your home’s square footage. Not only does TLA allow for a more accurate calculation of property taxes, but it’s also important for determining the number of bedrooms and bathrooms your home can accommodate.
Different Types of Residential Units
There are a variety of residential units in existence today, each with its own unique features and amenities. One of the most common types of residential unit is the home, which can be defined as a dwelling consisting of one or more rooms, with a permanent foundation.
In contrast, a condominium is a type of residential unit that consists of several apartments or homes that are owned by the same association and managed by a board or management entity. Finally, an RV (recreational vehicle) park is a type of residential area that provides commercial services such as lodging, recreation, and shopping opportunities to RVers ( recreational vehicle enthusiasts).
To calculate the TLA for any given residential unit, first determine the total number of square feet in the dwelling. Next, divide this number by the number of stories plus the basement level. This result will give you the total square feet on each floor of the dwelling. Finally, multiply this figure by 100 to obtain the TLA for the given residential unit.
Residential Buildings vs. Apartment Buildings
The total living area is a key metric used in the real estate industry
A residential building typically has more than one floor and a typical apartment building only has one floor. If you have multiple rooms on each floor of your house, then your total living area is larger than an apartment building with only one room per floor.
To calculate the total living area, divide the total square footage of all floors by the number of floors. For example, if a property has 500 square feet on the first floor and two additional floors with 100 square feet each, the total living area would be 1,000 square feet/3=300 square feet per floor.
In order to get an accurate idea of how much space you will need for your home or office, it is important to know the total living area (TLA). Calculating TLA can be a little difficult, but by following these simple steps you should be able to come up with an estimate that is close to correct. Once you have calculated your TLA, make sure to include any extra square footage needed for features like a backyard or balcony.
Also, read APR Loans: Everything You Need To Know!