When you are getting ready to look for a new medical office space, it’s important that you know how best to negotiate with your future landlord. There are many facets that go into negotiations, and it is vital that you know how to navigate them all in order to make sure you are getting a good deal, and to avoid losing what could have been a perfect lease agreement. Find out everything you need to know about negotiating your next agreement for medical office rent in Los Angeles with this factual list from Boulevard Medical Properties. Call the professional team at Boulevard Medical Properties today to see how they can help you find the best medical lease for your practice!
Your Rental Term
The cost of your rental agreement is important, but the length of your rental term is a facet of the overall agreement that often goes unnegotiated. If the lease you find is too long or not long enough for your business to benefit, push for a better term length during your negotiations. If you do not properly determine the right length of your lease, you may end up spending more rent for a longer period of time than your business actually needs. You could also be locked into a lease that expires too soon and would result in your having to go through the process of finding another new lease.
Use Your Leverage
It’s important to be armed with the facts when negotiating, so be sure to do all of your research regarding rental costs in your area and be sure to start your lease search earlier than you need to, as the process can be lengthy, and you’ll be hastier if there is a time limit pressuring your decision. When you leave finding a new lease until the last minute, your negotiating time will be less productive, because you will lose any leverage you may hold against a potential landlord, as they know that you have to find a new space in time. Starting your search process early ensures that you will have the time to really sit and think over all your potential new leases and you have the luxury of negotiating until your new deal is perfect. Use any leverage you have, such as rate research, time to find other medical office rent in Los Angeles, and term limit research ready when you begin to negotiate with your future landlord.
Protect Your Business
In a last-minute situation, you may have to vacate the building you are leasing due to your business downgrading, or any other significant problems. If your lease does not include a clause that protects you from an emergency, you might end up still being fiscally responsible for the rent, even though you may no longer be using the space. Make sure there is writing in your lease that is designed to protect you from any emergency that would cause you to leave your lease early and avoid having to pay expensive rent when you are no longer utilizing the offices.
Always make sure you are running any potential lease agreement by your lawyer, or a lawyer who specializes in contract and real estate law. While you can read through a lease agreement, a professional can more carefully digest the information regarding the negotiations and make suggestions based on what they think a fair agreement may be. If you’re having trouble finding medical office rent in Los Angeles for a great price, contact the team at Boulevard medical properties today and let one of our qualified professionals help you find the perfect new space for your practice!