Thinking of buying a property for your veterinary clinic?
Let Cirrus create your lease agreement for you!
Just as the veterinary office lease agreement is important to you and your clinic as a tenant, the lease 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 veterinary 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.
Why does my veterinary office lease matter if I own the building?
Building acquisition is expensive and comes with certain responsibilities that come with owning commercial real estate. You’ll likely be advised to acquire the property as a separate company than your veterinary clinic. In other words, it’s not the clinic that’s buying the building; therefore, there will be two separate companies: company A), the landlord company, and company B), 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 when you’re the landlord:
How much rent will you pay the building and yourself, every month?
When there are damages or fixes necessary on your property, which party is responsible for paying these?
How do you separate the relationship and obligations between the landlord and the tenant, when you are both?
Is your practice set up for growth and flexibility for the long-run, with appropriate options to renew, or to sell when you’re ready?
Why choose Cirrus to create your lease?
We’re the Best at What We Do: With over 20 years of experience, we’ve successfully negotiated over 10,000 healthcare office lease agreements across North America, and have saved doctors $100,000 or more in rent and mistakes in their leases.
Our leasing professionals are known for honesty, integrity, prompt responses, full-disclosure, detailed explanations, and recommendations as-needed, and when requested by our clients.
Maximize Sale Flexibility: We’ll help enhance your ability to sell and transition your veterinary practice down the line.
Save Time, Money and Stress: Avoid the time and headaches involved in setting up your own lease; focus your time and energy on providing quality patient care instead.