Reviewing a rental lease for a medical room can be scary. But don't worry, we've got a few tips to help you out before you sign on the dotted line.
1. Consider insurance
Does the contract contain information surrounding liability? In most cases, you are responsible for any injury occurring as a result of activity in the room.
Ensure that you have paid insurance to cover yourself. One thing to ensure is that you have inspected the room to check it is in good condition. If there are areas that are damaged or likely to cause accidents ask for these to be repaired. Do this before signing the lease.
You don't want one of your patients tripping over torn carpeting.
2. Clarify complimentary inclusions and what needs an extra fee.
It may be that when you saw the room advertised, they listed a wide range of available amenties. Usually, rental companies will show somehow, which are free and which are paid for. But not always.
Don't be caught out and sign a rental room agreement, only to find you can't use what you thought you could. Take any extra fees into consideration when choosing a medical room to lease.
Inclusions advertised should be listed on your contract. If you notice some are advertised, but not on the contract, ask to include them. That way your access to these amenities is protected.
3. Know what is a competitive price for what you want
Before signing any contracts, do your research. Consider if the price that the room will cost is fair, or something you can afford.
Are there hidden fees that you didn't see when first inquiring?
What are other rooms going for, in a similar location?
What are the Included/excluded amenities?
4. What is the cancellation policy?
Your business may change, or outgrow the space you're looking at renting. Be aware from the beginning of the process to leave the rental space. This will help you in the long run, when it's time to move on.
How much notice do you need to provide?
What form of notice do you need to provide? (email, written or verbal)
5. Repairs and Maintenance
The light bulb will need changing. The floor may need vacuuming. Or something more serious might break, like the furniture in the room.
Find out what your obligations are for repairs and maintenance. It's good to know this ahead of time, before something goes wrong.
Ideally, the less maintenance and repairs you have to perform, the better.
- Does the building hire a cleaner for maintenance?
-What is the process for notifying a repair needed?
- Are there repair or maintenance fees?
6. Deposits and fees
All deposits and fees should be on your contract. The contract should be clear on whether this is a refundable deposit, and how it may be used.
-How much is the deposit?
- How will the deposit be used (eg. repairs policy, or cleaning)
-How will your deposit be returned to you at the end of the lease period?
7. Time frame of lease
Ensure that you are happy with the time listed on lease. This should be clear, and detail the time you are obligated to pay rent for. Before signing, ensure that this time suits your business model.
- Will you outgrow the space within that time?
-Are there inspections of the rental space within that time?
-What is the process for a lease extension?
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