Physicians and Dentists:

Daily Herald (Arlington Heights, IL), March 20, 2017 | Go to article overview

Physicians and Dentists:


Physicians and Dentists:

Avoid Painful Office Leasing Mistakes (Without Anesthesia)

By Mark Brodson

As a physician or a dentist, finding and leasing office space can be very stressful. Whether you are looking for new space, relocating your office or renewing your existing lease, a good dose of knowledge should calm your nerves and ease your mind.

You should know that landlords favor physicians and dentists over virtually every other class of tenants since they typically have low default rates, invest heavily to build out their offices, and stay in their spaces long term. These factors work to your advantage in lease negotiations. Here are some tips to immunize you from lease-related headaches in the future.

Rent

For most medical practices, rent is the second largest expense next to personnel. While it is important to ensure that your rental rate is in line with the market, focusing on other lease terms can ultimately have a larger financial impact on your practice down the road.

Personal Guarantee

Many landlords require tenants to personally guarantee their lease payments. Such guarantees expose your personal assets to the landlord in the event that you default on your lease obligations. Whenever possible, avoid giving the landlord a personal guarantee. Even though you have every intention of paying rent on time, circumstances may arise down the road that prevent you from being able to do so. If the landlord insists on a personal guarantee, do your best to limit its impact by diminishing its value by 10-20% per year over the first few years of the lease.

Build Out and Lease Term

Medical office build outs are costly. Expect to spend around $110-$150 per square foot to get the office of your dreams. While many landlords offer tenant improvement allowances to defray construction costs, plan to invest a significant amount of your own capital into the build out. As such, securing the space for a lengthy term is critical.

A 10-year base term with two 5-year renewal options will enable you to control your space for 20 years, while financially guaranteeing only ten. …

The rest of this article is only available to active members of Questia

Already a member? Log in now.

Notes for this article

Add a new note
If you are trying to select text to create highlights or citations, remember that you must now click or tap on the first word, and then click or tap on the last word.
One moment ...
Default project is now your active project.
Project items
Notes
Cite this article

Cited article

Style
Citations are available only to our active members.
Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

(Einhorn, 1992, p. 25)

(Einhorn 25)

(Einhorn 25)

1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

Note: primary sources have slightly different requirements for citation. Please see these guidelines for more information.

Cited article

Physicians and Dentists:
Settings

Settings

Typeface
Text size Smaller Larger Reset View mode
Search within

Search within this article

Look up

Look up a word

  • Dictionary
  • Thesaurus
Please submit a word or phrase above.
Print this page

Print this page

Why can't I print more than one page at a time?

Help
Full screen
Items saved from this article
  • Highlights & Notes
  • Citations
Some of your highlights are legacy items.

Highlights saved before July 30, 2012 will not be displayed on their respective source pages.

You can easily re-create the highlights by opening the book page or article, selecting the text, and clicking “Highlight.”

matching results for page

    Questia reader help

    How to highlight and cite specific passages

    1. Click or tap the first word you want to select.
    2. Click or tap the last word you want to select, and you’ll see everything in between get selected.
    3. You’ll then get a menu of options like creating a highlight or a citation from that passage of text.

    OK, got it!

    Cited passage

    Style
    Citations are available only to our active members.
    Buy instant access to cite pages or passages in MLA 8, MLA 7, APA and Chicago citation styles.

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn, 1992, p. 25).

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences." (Einhorn 25)

    "Portraying himself as an honest, ordinary person helped Lincoln identify with his audiences."1

    1. Lois J. Einhorn, Abraham Lincoln, the Orator: Penetrating the Lincoln Legend (Westport, CT: Greenwood Press, 1992), 25, http://www.questia.com/read/27419298.

    Cited passage

    Thanks for trying Questia!

    Please continue trying out our research tools, but please note, full functionality is available only to our active members.

    Your work will be lost once you leave this Web page.

    Buy instant access to save your work.

    Already a member? Log in now.

    Search by... Author
    Show... All Results Primary Sources Peer-reviewed

    Oops!

    An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.