Medical and Dental Office Leasing
After witnessing the growing pains of your medical and dental practice, it is time to expand by searching for medical and dental office leasing services. It may take some years of hard work and financial investment, but it will pay off in the long run, especially if you sell the practice and retain the building so that you can be a stable, long-term tenant.
As leasing experts for medical and dental practices, we counsel and represent clients in obtaining office leases to protect their long-term interests. As property managers, we offer this specialized service and have many years of experience in operating medical buildings.
Most lenders in the dental industry require the lease to provide a ten-year term to allow the dentist to be licensed to practice and to begin the loan. Contact the leasing dentist and the landlord at the end of the initial term to renegotiate the rental for the next option period if the dentist decides to exercise the option. This gives the dentist the flexibility to leave room for a move if needed and renegotiate rent and other terms of the lease if the situation changes.
Medical and dental practices have their own peculiarities, which make them more complex. Questions such as detailed sanitary requirements, specialized fittings for medical equipment, improvements to tenants, and building regulations are all key factors when considering rooms. Medical offices can be more difficult to find than commercial offices.– New Medical Supply Leasing Specialist
If a future extension is possible, the tenant may consider applying for an initial right of refusal or pre-emption, which gives him the opportunity to rent or offer an adjacent or nearby office when it becomes vacant.
Depending on what type of lease you get and what you negotiate, you can reduce your monthly costs for the space. For example, moving in can cost less and the landlord can help you and the tenant with repairs. The total occupancy costs vary depending on the rental structure and depend on how much the tenant pays for the running costs of the buildings and the property tax.
Once you have bought your commercial space, it becomes more complicated to relocate a dental practice, even if you own the building and don’t have to do anything expensive that can result in lost rental income. If you move, the results can have an additional impact, as you will not only lose rental income but also patient income if you move away from your existing patient base. This is particularly easy for customers of the new office to understand when they open their practice because residents are moving out of the area, and there are clear signs that new homes are being built in the area.
Many dentists are taking the step of taking advantage of one of the lowest loan terms to date and discussing options with their landlords who may be eager to retain or to find new tenants.
Commercial leases are one of the most important agreements concluded by doctors and dentists. NNN leases represent some of the biggest challenges and negotiation opportunities for tenants and dentists. Landlords must present a lease that favors them.
As a tenant, it is important to understand and negotiate the key elements of the lease drawn up by the landlord in order to remove burdensome provisions in order to preserve and increase the value of your practice. The following are some of the most important provisions of the lease. There are dozens of other important clauses and conditions that need to be examined and analyzed with a lawyer, and although the lease may seem like a boiling point, each individual dentist has unique and specific needs that need to be included in the lease.
When entering a commercial lease, the landlord may request a personal guarantee from the practicing owner that he is the owner and operator of the practice as a corporation and refuses to rent the practice to another. The practice owner is responsible for the renter’s performance and is liable for rental and other payments if the renter fails to do so for any reason.
The right to lease, rent, or sublet part of an office is important when a practice is sold or an office is relocated. A rental period is a period in which the tenant owns the sole property and is not obliged to pay the rent. A short-term lease is beneficial for practice owners looking for flexibility to move to larger premises, while a long-term lease guarantees that the tenant can retain a certain area (the so-called “lease”) for a longer period of time.
Our leasing customers for medical and dental equipment have ample cash and access to attractive financing options from banks but prefer to use leasing finance for tax benefits. Equipment Leases, Inc. can help you equip your office with the latest equipment. Whether the medical equipment you need to equip your office is for a medical or dental clinic, Atticus Financial Group will help you find the right leasing and financing options.
From the moment you enter the door, our leasing experts will work with you to find the room that suits the unique needs of your practice the best. Our commitment to our tenants does not end there, and we will work closely with you throughout the lease term to ensure that your practice flourishes as a general practitioner. We have put together a specialized leasing offer to facilitate the lasting success of our practice.
The New Medical Supply Leasing team specializes in leasing and tenant representation agencies in the Washington D.C. metropolitan area including medical and dental offices. We help tenants to rent new space or sublet existing space and negotiate and evaluate possible renewals, expansions, and consolidations.
The next step in negotiating the lease for dental practices is to draw up a tactical plan based on your ideal lease, including the decision on how to negotiate the contract.
Find our facilities around the nation here: Medical and Dental Office Leasing