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Why You Should Have A Complimentary Lease Review (Part VI)
The Right to Have Another Tenant Take OverNext, your will want to look to make sure you have solid options for subleasing or assigning your space.He’ll look at the approval process for getting permission to have another tenant take over and whether you’ll be charged a fee for exercising this...  Read More
Why You Should Have A Complimentary Lease Review (Part V)
Lease Renewal OptionsNext, your broker will want to look at your lease renewal options.Most commercial leases include one.It should state how long you have to exercise this right before you lose it as well as what the term for the renewal shall be.Make sure you get a complimentary lease review long...  Read More
Why You Should Have A Complimentary Lease Review (Part IV)
Fair Market ValueYour will want to look at your lease to make sure what you're paying for rent is based on fair market value.If rents dropped in your market area since your lease signing, it's time to renegotiate.Butbefore doing that, have your tenant rep look at your lease. He'llcompare what...  Read More
Why You Should Get A Complimentary Lease Review (Part III)
Expansion ClausesIf your future includes plans for expansion, your  will look to make sure you have a sufficiently robust expansion clause in your lease. Here are two popular ones:RIGHT OF FIRST OFFER (ROFO)If you have Right of First Offer (FOFO) in your contract, you'll get the right to lease a...  Read More
Why You Should Get A Complimentary Lease Review (Part II)
CAM FeesNext, your broker will go over what your lease says about Common Area Maintenance (CAM) charges with a proverbial fine-tooth comb. He'll look to see how your landlord is actually calculating CAM fees and compare that to the method he's supposed to be using.This method will be specified in...  Read More
Why You Should Get A Complimentary Lease Review (Part I)
If you're ready to sign a lease without having a tenant rep look at it, you're making a big mistake. It could be poorly written, and because your expertise lies elsewhere, you wouldn't even know it.This could be disastrous. It's even worse if you signed one without having a tenant rep broker...  Read More
8 Tips To Make Your Dental Office Relocation Easier (Part III)
8. Safely (And Securely) Dispose of Old Electronics When you're getting ready to move into your beautiful new office space, you're invariably going to come across old employee phones, laptops, and computers that have seen better days.With the advent of Electronic Health Record (EHR) Software and...  Read More
8 Tips To Make Your Dental Office Relocation Easier (Part II)
6. Hire a MoverHire a company that has considerable experience in relocating dental practices. Moving a dental office is vastly more complicated than moving other types of offices and you want to make sure they can handle the job.The right company will know precisely how to pack, transport, and set...  Read More
8 Tips To Make Your Dental Office Relocation Easier (Part I)
One of these days, you might find yourself having to relocate your office. Maybe you lost your lease. You might even be growing at such a prodigious rate your current office square footage is no longer big enough for you.For some medical practitioners, this can be a very stressful time. That's...  Read More
8 Mistakes Dentists Make When Leasing Their First Office Space (Part II)
4. Not Choosing the Right AreaAcommon mistake of first-time practitioners is selecting a locationbefore they know which kind of patients they want to attract. This isbackward. Choose the type of patient you want to work with first, andthen choose a location.Because then, you can look for...  Read More
The 5 Steps On Your Journey To Finding Dental Office Space (Part IV)
5. Completing the Build-Out Now that you’ve settled on an office, it’s time to transform it into the beautiful, functioning space that’s a perfect reflection of the vision you have for your practice.How long your build-out will take depends on several factors. One of these is the scope of the...  Read More
What A Dental Real Estate Tenant Needs To Know About Rent Escalation Clauses (Part II)
Types of Rent Escalation ClausesThere are a couple of types of rent escalators:Stepped Rent Escalation ClausesThis type of rent escalation allows your landlord to increase yourrent at specific intervals. For example, you might pay $30 a square footin year one, $31 in year two, $32 during year...  Read More
What A Dental Real Estate Tenant Needs To Know About Rent Escalation Clauses (Part I)
Unfortunately, commercial leases have something in them that you never had to worry when you were buying your home.And that's rent escalation clauses.These clauses allow an owner to increase your rent at regular intervals. Sometimes, tenants and landlords argue over whether there should even be...  Read More
What Your Landlord Doesn't Want You To Know About Dental Office Leases (Part V)
An Experienced Healthcare Real Estate Agent is Your Ace in the Hole Don't enter into lease negotiations without an experienced healthcare real estate agent by your side.  Some people will tell you that negotiations are easy because the landlord writes the lease and takes care of everything else for...  Read More
What Your Landlord Doesn't Want You To Know About Dental Office Leases (Part IV)
Go for A Shorter Lease Term Sometimes, landlords are desperate to rent space and may try to talk you into agreeing to a lease with a longer term.For new practitioners, a one-year lease with a renewal clause is best. But if your landlord won't take a one-year contract and you really want the space,...  Read More
Dental Real Estate Seminar in Virginia
30 dentists enjoying the dental seminar sponsored by HPRG and others. Lots of great information was shared in Tyson's Corner, VA that evening!  Read More
What Your Landlord Doesn't Want You To Know About Dental Office Leases (Part III)
Deceptive LanguageLandlords are sneaky in the way they word leases. The first year, everything might seem fantastic with your beautiful new office space.You got a great rate on your rent. And, your share of the CAM fees appears to be reasonable. But in the second year and beyond, what you pay for...  Read More
Dental Seminar on June 4th
THIS EVENTS EVENT IS OFFICIALLY SOLD OUT! I can't wait for June 4th. Stay tuned for an exciting event in the fall!  Read More
What You Should Know Before Doing A Dental Office Build-Out (Part V)
Plan Ahead It can take months to find a team who can breathe perfect life into your dream and do justice to your vision. That’s why it’s imperative you start the planning process as soon as you can.Whatever type of space you decide on, it’s important to make sure you devote enough time to the...  Read More
What You Should Know Before Doing A Dental Office Build-Out (Part IV)
The Design Phase of Your ProjectIt’s time to come up with a design that makes sense for you. Talk with your team about your goals and project requirements. And then, find the designers who can translate your dreams into blueprints. Try to hire a firm that understands the nuances of your type of...  Read More
What You Should Know Before Doing A Dental Office Build-Out (Part III)
Know the Different Types of SpacePart of estimating costs is knowing the type of space you’re moving into. There are three types. This is part III of a series.The first kind is shell space. Shell space refers to an exterior shell of a building that’s left in a deliberately unfinished state. It has...  Read More
What You Should Know Before Doing A Dental Office Build-Out (Part II)
Don’t Underestimate CostsThis is part II of a series. Part III will be published on Friday.  It isn't exactly cheap to build out medical office space.Unfortunately, medical practitioners often underestimate these costs, causing problems down the line. But this doesn’t mean costs have to spiral out...  Read More
What You Should Know Before Doing A Dental Office Build-Out (Part I)
This is part I of a series. Part II will be published on Wednesday.When you're looking for office space, you're going to end up having to do some work to it. It might even need a complete top-to-bottom redo before you can move in and make it yours.This is what’s called a “build-out,” to use the...  Read More
14 Signs You Chose The Right Dental Real Estate Broker (Part VIII)
13. Your broker is a creative problem solver. A good broker is a creative problem solver par excellence.You’re a medical professional with a problem that needs solving. That is, how to find office space perfect for your needs. Not only that, but how to get it a fair market price. And after thinking...  Read More
14 Signs You Chose The Right Dental Real Estate Broker (Part VI)
This is part VI of a series. Part VII will be published on Monday. 9. Your broker’s an expert negotiator. A good broker has spent years perfecting his negotiating skills. And because he has, he’ll fight hard to get you the deal you deserve.A real estate professional negotiates deals day in and day...  Read More
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