As with the executive office, physicians` time shares allow physicians to rent part-time space (usually in four hours). Medical offices are controlled by independent medical practices or hospitals and can be adapted to the needs of specialists or general practitioners. By leasing land on the basis of total duration of use, the health care provider is able to evaluate a new market and expand its patient base without the high overload and start-up costs of a full-time office. If you cannot avoid this clause in your lease, we recommend that you obtain the details of the layout as accurately as possible so that each potential new office is equal to or better than the current office. Specific details such as ceiling height, number of windows, ADA compliance and anything else that may affect your office or your patients. One of the biggest differences between medical clinics and other types of business is that medical clinics tend to stay on the same sites for a long time. Because the competition for patients is so fierce, many clinics choose sites that are not in hospitals. The frequent development of emergency clinics and medical practices in the suburbs reflects this trend. It has even become a common practice for small medical clinics to choose sites in retail centers. Traditional medical practices are usually set up by a hospital system that uses a small medical suite in the adjacent medical office building. The suite usually consists of three examination rooms, a waiting room, a check-in desk, a doctor`s office, a nurse, etc. The hospital will purchase furniture and equipment for each room and provide other services.
Some double-time suites have a reception at the front desk or a nurse. Sometimes, when a medical practice buys an office building, they think they can cover the cost of the purchase by renting out the extra offices. While this makes perfect sense, the reality is that fulfilling an owner`s duties can take time away from medical practice, so renting space is a bad decision. Instead of buying an entire office building, the best idea for medical practices is to buy an office apartment. This will create the space that practice needs, without the need to manage an entire building. A demo clause allows the owner to terminate the lease if he decides to rebuild or demolish the building. This type of clause can be very difficult because of the ambiguity of the language used, so the tenants are at the mercy of the lessor, who has the right to terminate the lease without the tenant`s consent. As you can imagine, a sudden termination of the lease can have devastating effects on your practice. For example, if you have calculated the cost of financing an office, including any improvements you may have to make to the building and your operating costs, and you will find that your last final costs are about the same, whether you rent or buy, then buying the property is usually the best decision. If you own a building, you can build equity over time and you can also allocate your payments for building improvement, instead of having to cover those costs at once. This list is far from exhaustive, but we have chosen some of the most common and often overlooked terms in our experience of medical office rental.
A correct assessment of the language around these terms should be done by a commercial real estate lawyer who can help you understand the potential impact on your practice. The way the basic rent degenerates may vary, but the most common method is by not renting. Landlords can use this method if a tenant is not willing to rent the space at the current price, but by introducing a step-by-step rental structure, payments are structured to satisfy both parties.