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Considerations When Renting Medical Office Space
- Push for exclusivity. 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.
- Prioritize additional build-out allowance. Build-out expenses for medical offices typically run higher than those for general office use. Since the improvements would stay in place even after you exit a lease, it is beneficial to argue for a larger tenant build-out allowance.
- Don't just look at rent. Options, lease length, maintenance fees, and repair responsibilities are just some of the concerns that should be negotiated.
- Make sure the space fits your need. Many health-care professionals fall into the trap of leasing a space that doesn’t match their customer needs (i.e. inadequate waiting room space). Your layout should be functional both for the practice and its patients.
- Study your location needs. Proximity to patient base, hospitals, other doctors, and highway access; as well as building visibility, parking and relationships with neighboring practices all have an important role to play in the future welfare of your business.