Thinking of buying a property for your dental office? Let Cirrus create your dental office lease for you!
Just as the dental office lease agreement is important to you and your dental practice as a tenant, the agreement will be critical to you and your practice when you own the building. The lease agreement can either be a valuable asset or a detriment for both your property and your practice.
When you’re ready to sell your dental practice, you want the prospective buyer to feel confident that the practice they’re acquiring has a healthy long term lease that provides flexibility, options, and fair and equitable terms that allow them to grow. Secure the future of your assets by ensuring your property’s office lease is properly set up for sale down the line.
Cirrus will work with you to create and finalize your ‘Standard Form Lease’, taking care of writing the entire agreement from start to finish.
Why does the lease matter if I own the building?
When you own the building, you still need a lease in place as your practice remains the same, and the appraised value is still determined by the equipment, goodwill (patients), and the dental lease agreement.
Because building acquisition is expensive, with certain liabilities that come with owning commercial real estate, you’ll likely be advised to acquire the property as a separate company than your dental practice. In other words, it’s not the practice that’s buying the building, therefore there will be two separate companies: the landlord company, and the tenant company. Your office lease establishes how the relationship is set up between these the two companies, outlining their obligations to one another, separating them carefully for various legal and accounting reasons.
Questions to Consider
- How much rent will you pay the building and yourself, every month?
- When there are damages or fixes necessary on your property, who’s responsible for these?
How do you separate the relationship and obligations between the landlord and the tenant, when you are both?
Is your lease set up to support your practice growth and flexibility, with appropriate options to renew, or to sell when you’re ready?
Why Choose Cirrus?
Cirrus offers the expertise of ex-landlords, an in-house legal team, professional lease negotiators, and real estate analysts.
We’ve helped thousands of dentists improve the value of their practice, while saving them from hidden risks in their lease.
We’ve successfully negotiated and reviewed over 10,000 dental lease agreements across North America.
We’ve been negotiating leases since 1994, founded by dentists, for dentists!
The dental office lease is a valuable tool that helps protect and define your practice and real estate investment.