You’ve finally found the ideal medical space for your practice—that’s great. So, what goes on after? Your next step is to make sure you grab it before someone else does, so you don’t miss out on the opportunity: apply for a lease.
Applying for a lease on a medical space, just like any other major step, requires considerable forethought and due diligence. Among other important things, it entails seeking conflict-free, expert advice and having a thorough understanding of the agreement. The following information aims to help you get a much better grasp of what the process for applying for a lease on a medical space is like.
Lease Application Process for Medical Space
Before you go ahead and clinch the deal with your prospective landlord, you may want to enlist the services of a tenant representative. Unlike a typical medical office broker who represents both landlords and tenants and therefore tends to have an inherent conflict of interest, a tenant representative works exclusively for you.
Your tenant representative can help you navigate the complexities that come with setting up your medical office. They can assist you with structuring the terms of the lease agreement to fit your needs while protecting your interests. They can also help you understand your own rights and those of your landlord. You and your tenant representative can find out together whether your agreement has exclusivity provisions, which forbid your landlord from leasing out another space within the same property to a provider that directly competes with you.
Medical space lease agreements include voluminous details. Here are some of those usually indicated in medical space lease agreements that are worth discussing with your tenant representative:
- The term/commencement date
- Base rent and taxes on rent
- Additional rent and operating costs; purchased services
- Full responsibilities of the lessee
- Permitted use of premises (e.g., diagnostic imaging and outpatient surgery services)
- Prohibited Uses/Non-competition clause
- Compliance with legal requirements
- Proper separation, storage, removal, and disposal of medical and hazardous waste- Indemnifying the lessor for failure to comply with the law on medical and hazardous waste
- Utilities and services that the lessor provides
- Right of access
- Confidentiality of patients’ health information according to The Health Insurance Portability and Accountability Act (HIPAA)
- Accessibility requirements under the Americans with Disabilities Act of 1990 (ADA)
- Lessee’s responsibility for repair and maintenance of the leased premises
- Initial alterations (Remodeling and renovation terms)
- Right of termination of the lease agreement
- Performance and payment for initial alterations and subsequent improvements
- Responsibility for exterior and interior signage
- Lessee and lessor indemnity in the event of damage to property; waiver of liability
- Insurance payment
- Death and disability clauses
- Assignment and subletting laws
- Events of defaults and remedies
- End/extension of term and transfer of lessor’s interest
Run these details by your tenant representative before legally committing to the terms stipulated therein. Understand what the lease is binding and make sure you and your landlord are on the same page as to who pays for what and the amount of time you have to fix any issues.
Medical Office Space for Lease in Naples, FL
The Executive Medical Center (EMC) is a state-of-art, 28,000-square-foot building boasting fully built-out medical spaces as well as a host of special amenities that practices like yours need for efficient, streamlined patient care. To give you an idea, we have an independent MRI center on the first floor, where your patients can get scans and obtain the results conveniently. We also have our anchor tenant on the third floor: North Naples Surgery Center, an ambulatory surgical unit which can provide your patients who might need to undergo certain elective procedures with absolute convenience.
To find out more about our leasing opportunities and how to apply for a lease on a medical space, call the AJS Realty Group in Naples, Florida at (239) 313-3416 or email hamish@ajsrealtygroup.com. We look forward to serving you!
