Relocating My Dental Practice
Any dentist planning to move dental offices will first have to find a new location, and then move through the dental lease negotiation process with their prospective new landlord.
Landlords are aware that dental offices are expensive, difficult-to-relocate businesses. Therefore, it is critical that your dental lease and the terms and clauses within it are set up to help you protect your investment well into the future, and avoid costly surprises. For tips on a safe practice relocation, read our Practice Relocation Process Guide, now!
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Important Questions to Consider Before Relocating Your Dental Practice
Lease Tips for Dentists: Surprise Relocations by the Landlord
Our Dental Leasing Services
Critical Dates and Risk Analysis a.k.a. Lease Review Services
Cirrus Consulting Group offers professional planning to relocate their dental office the Critical Dates and Risk Analysis (CDRA), a.k.a. Dental Lease Review. This important review process involves flagging critical action dates and identifying hidden risks in your dental lease. Learn more about our dental lease review services, now.
Dental Lease Negotiation
Before you relocate your dental practice, our exert Dental Lease Negotiators will be happy to review and negotiate your lease, acting as the liaison between you and the landlord. Our experts will ensure that the entire negotiation process is handled for you from beginning to end, with your protection and best interest in mind. Learn more about our dental lease negotiation services, now.
Dental Office Lease Date Tracker
No matter where you are in your dental career, one day your dental office lease will expire or hit its renewal date and you’ll have to renegotiate the terms in your lease with your landlord. Never miss an expiry date again, and enroll in our complimentary dental office lease date tracker system. Track your dental lease dates now!
Relocating a Dental Practice: Essential Steps for Success
There are three major parts involved in the process of getting your new lease secured, and your dental practice efficiently moved to a new location.
Part 1: Negotiating the Offer to Lease, or Letter of Intent
This document is the short form of your lease that mainly addresses economic terms such as rental rates, lease start date, length of the term, what your options are to renew, tenant improvement allowances, financial deposits, etc.
This agreement is a very important part of the dental practice relocation process, requiring extensive research to help negotiate fair terms. Remember, landlords and most realtors aim to get dentists to agree to pay the highest rent possible. Research and a strong negotiation strategy here are critical as this will determine how much money you will spend over next 10-20 years. Making a mistake with this part of the process will be very expensive for you.
Part 2: Reviewing and Negotiating Your Dental Office Lease
The second step in moving a dental office is reviewing and effectively negotiating the dental lease agreement. The lease is usually a much longer document than the letter of intent or offer to lease, and is always written and presented in a very ‘landlord‐favored’ way. This is the landlord’s tool that they use to make as much money as they can for as long as they can via hidden terms and clauses. The more you pay for rent and the longer the term, the more valuable the dental office property becomes.
It’s critical to be careful here, and have a dental leasing expert get involved to ensure your practice is safe and protected in the long run.
Part 3: Ensuring You Have Enough Term in Your Old Location
The third component to relocating a dental office is ensuring you have enough term and mechanisms in your current location before the move. You want to avoid losing your old location if your new location is not ready for you to start seeing patients. “Downtime” or “dark-time”, as it is commonly known as in dental circles, is one of the worst things that can happen to you and your dental practice. Ensuring you have enough term left in your old location or that you have a short term extension is critical to your practice’s continuity while you go through this process.
Why you need Cirrus, now!
If you’re thinking about relocating your dental office, contact one of our expert Dental Leasing Consultants first, and learn what you need to know before it’s too late at 1-800-459-3413!