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When searching for medical office rentals there are quite a few pitfalls that you should avoid. There are also certain criteria that you should ensure that you have covered before signing the contract.
Pick the Right Location
According to the American Academy of Family Physicians (AAFP) patients have said that a “convenient location” is one of the top 5 criteria when selecting a primary care physician. Being near pharmacies and other retail is also a plus. Other factors you want to consider are demographics and competition, and good parking. Also, contrary to popular belief being close to a hospital or other primary care physicians is not optimal as well.
Great Parking
As a general rule of thumb select medical office rentals that have at least 5-6 parking spaces per 1000 sf that you rent. If patience have a hard time finding a parking space you may lose them.
Exclusivity Clauses
It’s important that you ask for an exclusivity clause. What this means is that if you are a family care physician, you want to be the ONLY family care physician in the building.
Services Provided by Landlord
Too often physicians assume that the landlord pays for everything (e.g. electric services). While this may be the case in some buildings in others it’s not. Similarly, as stated in ENT Today, many medical practices use equipment such as X-ray machines that use a lot of electricity. It’s important to find out whether or not the landlord will charge you for extra electricity usage.
Improvement Allowance
Getting your medical office set up will require a lot of improvements. Most landlords offer medical tenants a tenant improvement allowance per square foot of space rented. More than likely these funds will not cover 100% of your buildout, however they will help free up your budget for other items.
We know that the right medical office rental can mean the difference between a successful or non-successful medical practice. Contact us today to discuss your needs and find out how we can help you find the right medical office and negotiate the best deal possible.
