The HPRG Blog
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Charles Feitel

8 Things to Think About When Negotiating Your Dental Lease Part III

8 Things to Think About When Negotiating Your Dental Lease Part III

3/20/2019 10:16:36 AM   |   Comments: 0   |   Views: 36

Here's Part III of the blog. Part IV will be posted on Friday. Happy first day of spring! 

5. Intimately acquaint yourself with your market area. 

 

Make sure you’re intimately acquainted with the market in the area you’re considering practicing in.

To achieve the best possible terms, you need to know all the possibilities in the area you’re looking at. Then, tell others what your lease terms are. Including what you pay for rent.

Do this so they can tell you what they’re paying. The only way to make sure you’re getting the best possible rate and terms is to compare your lease to others.

If you do this a few times, you’ll get a clearer picture. However, the best way to get market information is from a reputable broker. 

After you acquire this knowledge, you’ll be in a much better position to negotiate.

Expert representation by a real estate broker is available at no cost to tenants because the landlord pays for his services.

6. Negotiate for tenant improvement allowances when renewing a lease. 

 

Often, dentists don’t think to ask for a tenant improvement allowance when it's time to renew a lease.

But you can!

Especially if your landlord skimped on one when you first moved in. You and your broker at the time might have been too timid to ask for what you deserved.

It’s time to make up for that now!

For longer leases, you should get more robust tenant improvement allowances. This is the perfect opportunity to reimagine your work environment. Get the money you deserve to replace shabby surroundings with nicer conditions.

If the landlord is giving allowances to tenants moving in for the first time, why shouldn't you get one too? Even if your space only needs cosmetic upgrades, negotiate for them as part of a lease deal.

After all, you’ve been in the space long enough to prove that you’re a good tenant.

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