Dentaltown March 2018 - 105

8. Determine
your appropriate
lease length.

11. Remember your
operating costs.

For new practices, an initial lease
term is typically 10 years. However,
when renewing a lease, you shouldn't automatically sign for the same or a similar time
frame without considering your own future. You
may sell your practice or retire. You may require a
longer term or further renewal options to facilitate a
sale of your practice. On the other hand, you may want
a shorter term to allow for retirement without a sale of your
practice, or to allow for a sale of your goodwill and patients
that does not include the physical location. Consider what is
right for you.

9. Avoid settling for
the same rental payment.
Achieving a rent reduction on a lease
renewal is a very real possibility. If the
landlord is leasing space to new tenants
at less than what you're currently paying,
a rent reduction should be achievable. If
your current rental rate is artificially high
because of your last tenant allowance, a rent
reduction on the renewal term could also be
in order. Again, you should talk with other
tenants who have recently renewed or moved
in to see how much they are paying.

Having the lease or operating costs
analyzed is an effective way to keep the
landlord and property manager accountable. Dental tenants often pay inflated
common area maintenance because
of padded or miscalculated
operating costs. Often, it can
be advantageous for groups
of tenants sharing the
same property to unify
for an operating cost
analysis.

10. Negotiate
to get your
deposit back.
If you've paid the
landlord a deposit, you
should ask for this back
upon the lease renewal date.
As a tenant who has paid
rent for 10-plus years, you will
have proven your tenancy. Why
should the landlord keep
your money?

Conclusion
Although it can be, negotiating your
lease renewal does not have to be a difficult
process. Even with multiple avenues of
approach, by keeping these tips in mind
you can renew your lease with ease.

dentaltown.com \\ MARCH 2018

105



http://www.dentaltown.com

Table of Contents for the Digital Edition of Dentaltown March 2018

Dentaltown March 2018 - Intro
Dentaltown March 2018 - Cover1
Dentaltown March 2018 - Cover2
Dentaltown March 2018 - 1
Dentaltown March 2018 - 2
Dentaltown March 2018 - 3
Dentaltown March 2018 - 4
Dentaltown March 2018 - 5
Dentaltown March 2018 - 6
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Dentaltown March 2018 - Cover3
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