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4 Mistakes Doctors Make When Leasing Medical Office Space

At Larry u201cMaxu201d Maxwell Law Practice, our focus is on delivering the best results for our clients, focusing on ensuring they are positioned to receive the most out of any agreement. Larry u201cMaxu201d Maxwell is one of the most reputable health care contract lawyers in the industry right now. He knows the ins-and-outs of working with doctors, hospitals, and their relationships together. Along with the capability of his incredible team, you will receive quick results backed by years of experience for an affordable price.

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4 Mistakes Doctors Make When Leasing Medical Office Space

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  1. Larry “Max” Maxwell Law Practice 4 Mistakes Doctors Make When Leasing Medical Office Space MAXHEALTHLAW

  2. 1. Signing A Personal Guarantee Landlords love personal guarantees. However, as a tenant, you should not. A personal guarantee is a legal contract between a landlord and an individual to guarantee a specific obligation of a business, usually the remaining rental obligation under a lease. Personal guarantees provide the landlord with additional recourse in the event of a default on a lease agreement. The implications of a personal guarantee are significant because your personal assets are at risk should you default on your lease.

  3. 2. Underestimating the Cost of Tenant Improvements Tenant improvements for a medical office suite can be very expensive. Building out space to fit the unique needs of your practice can range anywhere from $50 to $250 per square foot, depending on myriad factors such as the current condition of the existing suite (warm or cold shell), the level of specialized requirements for the practice and personal choice of improvement finishes.

  4. 3. Underestimating the Timeline and Complexity of the Build Out Jan. 2020 | Keeping Baby Happy & Healthy Just as the cost for tenant improvements varies by practice specialization and current condition of the suite, so does the project’s complexity, and ultimately, the timeline for delivery of the finished space. For example, a practice requiring a surgery suite and digital x-ray units will take substantially longer to design, permit and build than a family practitioner’s office that may just require individual exam rooms

  5. 4. Trusting the Landlords and Their Agents to Represent You In a lawsuit, it is illegal, unethical – and even illogical — for an attorney to represent both the plaintiff and the defendant. There is an obvious conflict of interest. In real estate transactions this practice is called “dual agency,” and it carries with it the same inherent conflict of interest, except that it is legal and done all the time by so-called “full service” real estate agents. We are unique because we represent only tenants; never landlords.

  6. Contact Us MAILING ADDRESS FOR FEEDBACKS 5339 Spring Valley Rd #200 Dallas, TX 75254 OR INQUIRIES WEBSITE ADDRESS https://maxhealthlaw.com PHONE NUMBER 972.226.9700

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