Finding and securing the commercial office space that will best serve your business is by no means an easy task. Finding the right medical space is even harder. But then again, when has anything worth doing ever been easy? The key to overcoming this challenging but necessary obstacle in the expansion of your business is to educate yourself on how to do it right. The more you know, the fewer mistakes you’ll make and the better off you’ll be down the line. As the most lucrative and reliable Medical Office Property For Lease Fairfield County resources and consulting company in Connecticut, we believe in spreading the knowledge. That’s why we’ve developed our own top ten commandments to land you the best medical office space on the market.
Rule #3: Clarify The Terms And Length Of The Lease
This should be your very first question for a piece of property that interests you. What are the terms and how long will they last? Moreover, how strict is the owner in adjusting these terms and do they fit within your budget? In some cases, you may be able to negotiate the terms to better fit your circumstances. But ultimately this is a toss up. In the event that the terms and length length of the lease are non-negotiable and do not fit within your parameters, you may have to pack up and look elsewhere. You should be conscious of your time expenditure with each property. If it’s out of your price range or if you cannot commit to the specified length of time, then it’s probably best to just move on.
Rule #2: Clarify What Actions Would Follow Once The Lease Expires
Different owners have different policies. Just as is the case with the length of the lease, there equal variety between owners with regards to lease renewal. You must determine from the get go whether or not you can renew the lease, and when you would have to do so. Do you have a responsibility to renew months in advance? Is there an assumption that you will be renewing if you do not inform the owner ahead of time? These are the kinds of questions that you should be asking yourself before you sign anything. Once you know, you must factor these dates into your calendar so they don’t creep by you come crunch time.
Rule #1: Can You Afford The Rent?
As is the case with any business, running a private practice entails its share of speculation. But that doesn’t mean you can’t make educated estimates in order to build a budget. You should speak to your financial consultants and determine a number for monthly revenue that you deem to be realistic. Based on this number, is the rent for the property that interests you a number you can realistic come up with on a monthly basis?
There’s plenty more to know about Medical Office Property For Lease Fairfield County management. But these three tips should keep you on your feet. For more info, contact Rakow Group at 203-359-5703 and we will get you all the information you need.