Dental and Medical Counsel Blog

Should You Buy or Lease a Commercial Space for Your Dental Practice?

By Ali Oromchian Esq

Becoming a practice owner is a big enough decision, and you may be lucky enough to have to make another decision:  whether it is better to buy or lease the commercial space for your dental practice. Like many things in life and business, the answer is: it depends.  There are pros and cons to both options, and we are going to analyze some of those as you get ready to make your decision.  

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Posted on 09/25/2019 at 03:06 PM

How to Avoid Issues with Your Commercial Dental Office Lease

By Ali Oromchian Esq

Opening a dental office usually involves signing a commercial lease for the office space. Commercial leases work much in the same way as a residential lease on a home. You and your landlord are obligated to conform to the terms of the lease as-signed and any defiance or neglect of those terms is a breach of contract that can result in enumerated consequences or legal action.

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Posted on 09/18/2019 at 11:16 AM

Understanding Triple Net Leases

By Ali Oromchian Esq

We gave an overview of various dental lease types in a previous post. In this one, we'd like to go into more detail about triple-net leases. Unlike a full-service lease, a net lease requires you to pay extra on top of the base rent. A triple net lease, as the name implies, requires you to pay three extra things. On top of the normal rent payment, a triple net lease will have you paying the taxes, insurance, and maintenance costs for the property. Depending on the terms of the lease, you may also be paying for utilities.

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Posted on 05/29/2019 at 09:29 AM

In A Dental Practice, Owning Real Estate Has Advantages Over Leasing

By Ali Oromchian Esq

Our dental clients often ask us, should I own the building where I have my practice? Our quick answer is usually "yes," but the analysis is – as you'd expect – quite a bit more complicated. In this post, we discuss some factors to consider when deciding whether to lease or purchase real estate for your dental office, and why ownership tends to win out over leasing most (but not all) of the time.

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Posted on 01/23/2019 at 09:19 AM

What Dentists Need to Know About Relocation Clauses in Commercial Leases

By Ali Oromchian Esq

Anyone who has gone through the process of choosing a location for a dental practice knows that commercial lease agreements contain potential pitfalls for the unwary. One especially dangerous provision is known as a "relocation clause" (sometimes called a "substitution clause"). In this blog post, we discuss what relocation clauses are, how they may affect your dental practice, and ways your attorney may negotiate them to minimize your exposure. 

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Posted on 12/05/2018 at 11:51 AM

Understanding Shared Dental Space Agreements

By Ali Oromchian Esq

Dentists across many ages and different types of practices are looking for ways to cut back on costs--and sharing dental space is an excellent way to accomplish those goals. There are several key reasons why dentists choose to enter shared space agreements, including reducing overhead, trying to maximize the use of their facility, or minimizing risks as they open their first practice. If you're considering a shared dental space arrangement, it's important to be sure that you understand the details of shared dental space agreements.

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Posted on 10/24/2018 at 04:53 PM

Understanding And Negotiating A Tenant Improvement Allowance

By Ali Oromchian Esq

Let’s assume you have found a commercial space to open your new dental practice. You, as a tenant, may be able to have your landlord pay you for the costs to improve your space in the ways that are needed to operate a successful practice. Whether you are a tenant who is seeking to upgrade existing space, or a new tenant who has not yet built out new space, it might be in your best interest to negotiate on a tenant improvement allowance for your commercial lease.

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Posted on 07/03/2018 at 08:10 AM

Key Things To Consider When Drafting A Letter Of Intent

By Ali Oromchian Esq

Early in the process of purchasing a dental practice, before you formally purchase the practice, you'll start with a letter of intent. Your letter of intent is the first piece of legal paperwork in the practice-buying process, as it details your interest in buying the practice and sets out some of the basic business/economic terms. As you create this important document, make sure that you take it seriously! The terms in your letter of intent can help shape your purchase agreement and other important aspects of your purchase. 

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Posted on 06/27/2018 at 09:53 AM

Understanding the Major Commercial Lease Types

By Ali Oromchian Esq

When negotiating leases for your dental practice, it is helpful to be familiar with the common types that are specific to commercial leases: gross or full-service leases, net leases, and modified gross leases.

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Posted on 06/20/2018 at 07:45 AM

How To Stay Compliant When Selling a Dental Practice

By Ali Oromchian Esq

Once you have decided that you would like to sell your dental practice, there are a number of steps that you can take which will aid you in the success and compliance of the sale. You will undoubtedly want to get the most “bang for your buck” with the least hassle. Further, you will likely want to make the transfer as seamless as possible. With the ability to properly prepare in advance, you can easily make a sale and transfer your practice and be confident in those actions.

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Posted on 06/06/2018 at 09:00 AM

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