There are almost always additional real estate options to consider for your practice
Commercial Real Estate Landlords: 5 Things Every Healthcare Provider Needs to Know
Most commercial real estate landlords want you to believe that their property is the only suitable location for your practice, both for a new lease and especially during lease renewals. The truth is there are likely several additional properties that would fit the needs of your healthcare practice and you should thoroughly evaluate each one. Once you fully understanding all your top real estate options, the landlord should then compete to keep you in their building, not vice versa.
Many commercial real estate landlords will take the approach that you don’t have any other real estate options to evaluate and are only negotiating with them. To receive the most competitive terms possible, you can’t downgrade your strategy to this approach. You must understand and evaluate your options.
Additionally, many commercial real estate landlords want you to believe they have several potential tenants ready to occupy your medical office space if you don’t take it. This position is used to force a tenant to rush into signing an unfavorable lease, when in fact, it usually takes months or years to fill a vacant commercial space.
Additionally, when you compare the default rate of a healthcare professional to traditional businesses, healthcare practices have some of the lowest default rates of any industry and are extremely desirable tenants for most landlords. If landlords are being honest, most would much rather have a healthcare provider because of their success rate over many other types of tenants.
Every leasing situation is unique and a healthcare real estate professional who knows your strengths as a tenant along with the current market, can help you understand what type of leverage you have in your next lease negotiation.
This information represents a few of the many misconceptions involving landlords in healthcare real estate transactions. Using a real estate professional with expertise in healthcare will help protect you from falling victim to these and other common landlord myths.
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Carr Healthcare Realty is the nation’s leading provider of commercial real estate services for healthcare tenants and buyers. Every year, thousands of healthcare practices trust Carr to achieve the most favorable terms on their lease and purchase negotiations. Carr’s team of experts assist with start-ups, lease renewals, expansions, relocations, additional offices, purchases, and practice transitions. Healthcare practices choose Carr to save them a substantial amount of time and money; while ensuring their interests are always first. carrhr.com