When done well, revitalization efforts breathe new life into once-dormant properties, serving as sources of inspiration, stimulation and economic vitality for the entire community. Perhaps
Technology has long had a hand in advancing medical science and improving patient outcomes, and the trend continues today. Just as new technologies have led to the development of new vaccines, treatment methods and similar medical advancements, technology has also played a huge role in broadening patient access to health providers.
What does this mean for you, the provider, from a leasing standpoint? In essence, it means you should consider how technologies that help you communicate with patients from afar are going to impact your office and space needs.
A medical office lease differs from a traditional office lease in a number of important ways. For starters, doctors tend to remain in their offices longer than other professionals, so if you are on the hunt for new office space, you likely want to try to find one that will serve the needs of your medical practice well into the future.
Furthermore, as doctors and other providers increasingly compete for patients, many of them prefer to avoid setting up shop in existing hospitals. Instead, they choose to occupy spaces that are more convenient and accessible for patients. Regardless of whether you choose to lease office space on or off of a hospital campus, there are certain elements to consider before signing on the dotted line.
After paying your staff, your office space may be your biggest business expense. So, during medical office leasing, it’s always a good idea to negotiate the most favorable terms you possibly can. Just as your patients know to turn to you, the professional, when they need medical advice, it may serve you well to have a tenant representative help you when it’s time to find a new office space.
Medical leasing is quite different than typical office leasing, and lease terms vary broadly from one contract to the next. Medical office leasing also involves complicated terminology, so the more you familiarize yourself with the following terms and concepts, the more likely you’ll be to understand what you’re getting into and avoid common leasing pitfalls.