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One of the most valuable assets of a health care practice is its location. If you do not own that location, it is extremely important that you secure the value of this key asset through a well-drafted medical office lease. To help you with this process, here are nine important points to keep in mind when negotiating a lease for your health care practice.
1. Remember That Everything is Negotiable.
Both landlords and brokers are notorious for telling prospective tenants that “everyone has signed this lease,” “it’s just a standard form,” or “no one ever negotiates my lease.” This simply isn’t true. Sophisticated tenants always negotiate their leases, and any term in a lease should be open to discussion. Remember that most leases are drafted by the landlord, and most landlords fill their leases with terms that are extremely favorable to the landlord, usually at the expense of the tenant. Continue reading →
Ready to move your startup out of the garage and into real office space? Here are 4 tips on negotiating your startup office lease:
1. Don’t lease too much, or too little, space.
Image courtesy of Peter Oresved / freedigitalphotos.net
For a startup, one of the most challenging aspects of leasing is to determine the right amount of space. Lease too much space, and you will incur substantial, unnecessary costs at a time when your resources are limited. Lease too little space, and you may not be able to grow as quickly as you would like.
To address this issue, try to lease a small amount of space but also try to include a right to expand in your lease. This right can take the form of an option to expand, a right of first offer or a right of first refusal, and it can relate to specific space (for example, the adjacent space) or to any space in the same building that becomes available during the term of your lease.
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