Blogs

Before commencing negotiations with your landlord, you must have a “game plan”. To devise this plan, you must assess your current situation, considering short, and long term goals. Some things to consider include: age, health, sale of the practice, and office space requirements.

You’ve worked hard building a practice. You have the right equipment, a great staff, a growing patient base and an office in a good location. One day, you get a letter from your landlord stating that he wishes to renovate the building and your lease will be terminated by the end of the next month. According to your landlord you are required to bring your space back to four walls, removing any trade fixtures before you leave. This could cost you tens of thousands of dollars, not to mention the income you will lose while you find and build out a new space. How did this happen?

It’s a busy time here at Cirrus and we are happy to report that many of our clients are making positive strides to improve their respective outside use and access bonus numbers! After distributing access bonus cheques in October, we are getting lots of questions on what clients can do to continue building this positive momentum.

There are several critical dates in your lease. Let’s look at what they mean and how they can they affect you.

How do you ensure you’re choosing the location that works best for you? This free one-page guide will help you identify the most important factors to consider.

Click here to download the resource.

This “Quick Guide To Setting Up A Medical Practice” is designed to help you identify 7 key issues that should be addressed as part of your planning.

Click here to download the resource.

Sometimes the quickest way to learn the ins-and-outs of healthcare tenant lease renegotiation and renewal is by looking at what has happened to other dentists and doctors in the same situation you may be in right now.

We’ve taken out the names of those involved, but these short stories are all true:

A healthcare professional paid a rental deposit and then the building was sold. The landlord took the deposit. We negotiated to get the deposit back from the new landlord. Always read the fine print about what happens when/if the building is sold during your tenancy.

The ‘market’ we’re referring to is the real estate leasing market in the vicinity of your location (or potential location). Before beginning to negotiate with the landlord, you must gain a strong understanding of this market. That’s the only way to know if the landlord is offering you fair financial terms and a good deal.

Poorly negotiated leases can make it difficult for you to sell your practice and much more.  This 2 page guide will outline how to identify the risks you face.

Click here to download the resource.

Did you know that your Tenant Lease could block or hinder the sale of your dental practice in the future? It’s true. How?

The following is a real example (with a fictitious name):