What You Should Know Before Leasing a Medical Office Space

As a physician opening up your new practice, leasing ‌medical office space is one of the most important decisions you’ll make. Anyone providing the community with medical assistance is tasked with securing a location with long-term potential. 

It is in the best interest of both patients and the medical practice to have a set location to provide patients with the reliability of your practice location. These tips will help navigate the process of locating and securing the best medical office space for years to come.

Tips on Leasing a Medical Office Space

The following tips are meant to help you decide on a medical office space as a long-term tenant. 

Invest in the Right Location 

It’s important to have a clear idea of what would suit your practice best in terms of location, size and cost. Since it is best to have a reliable long-term location, you’ll want to choose a location that is easily accessible and safe. Consider locations nearby public transportation routes or within easy-to-access downtown areas where there is pedestrian traffic. 

Focus on the Ideal Size

The size of your office needs to not only meet the demand you currently anticipate starting out with but also have enough space to accommodate a growing number of patients comfortably. Small spaces may feel uncomfortable causing unnecessary stress and issues down the road. 

Allow some Flexibility on Costs 

If you find a medical office space that is ideal for you in terms of its location and size, then consider adjusting to the cost as much as possible. Location and size are crucial to long-term medical office leasing. You shouldn’t pay an exorbitant amount on leasing a space, however, be sure to find the best location where your medical practice can thrive and serve your patients on a long-term basis. 

Know Who Else is in the Commercial Complex

It’s important to know who else is leasing space in the commercial complex that you’re considering. You’ll especially want to know who your potential neighbors are since patients are more likely to continue visiting your office when the environment is pleasing. For example, if you have a loud, bustling bar or music venue nearby, patients may be turned off from returning.

Keep Lease Terms Clear

When you are about to or are considering signing a commercial lease for your medical practice, it’s important to know the length and what negotiations or concessions there may be for extending or terminating the lease early. For example, you’ll want to know if there are any stipulations that pertain to you as a medical provider as opposed to a general commercial office space tenant. Are there restrictions stated in the lease as to what type of Industry is allowed to sign a lease next door to your practice? Understanding the boundaries within your lease terms helps you determine the best commercial real estate lease to sign long-term.

Understand Financial Guidelines and Expectations

Before you sign a medical office space lease, you should know upfront whether or not the rent is set to increase in the coming years and whether or not the space includes utilities or any additional expenses you may be responsible for. You’ll want to find out as a medical provider if there’s any extra insurance you are responsible for. Does the cleaning and sanitation of the office space require additional costs given your need for a highly hygienic environment? These are good questions to ask before signing on the dotted line.

Plaza Companies is the Premier Choice of Commercial Real Estate

Plaza Companies is a full-service real estate firm specializing in the leasing, management, construction, and development of some of the most innovative commercial real estate projects in Arizona. 

Plaza Companies is successfully competitive in the commercial real estate space while remaining compliant with all accessibility needs as a top priority along with all other legal obligations.  Our firm specializes in staying connected and conscientious of all emerging trends and laws.

Contact us today to learn more about leasing the right space or anything else we offer!

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Whether you are looking to us for management, leasing or development services, we can help you find the perfect space. With over 40 years of experience, you can trust Plaza Companies to assist you with your real estate needs.

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