In addition to the typical concerns involved in finding dental office space, the practitioner should closely examine the lease terms. Some of those are as follows:
- Assignment Provision – It’s important that you negotiate the right to assign your dental office lease to another practitioner. Most Dentists will eventually either sell their practice or retire and transition it to a younger Dentist. In either case the assignment provision in the lease will dictate how easy or difficult that will be.
- Option to Extend (Renew) – In order to provide for the opportunity to grow and continue the business or sell and/or transition the dental practice, it’s important that you secure the appropriate number of lease renewal options. We recommend structuring the lease with a transition in mind (retirement, transition, or sell the practice). Doing so will give you more control over the lease provisions and peace of mind
- Exclusive Use – While it’s not always an option – especially in larger office buildings – many health-care professionals can and should ask a landlord for exclusivity during negotiations. In turn, a landlord cannot lease nearby space to a rival health-care practice within the same specialty during the lease term.
These are just a few of the concerns that dental practices should consider when leasing office space. For additional information feel free to contact us.
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