Your Guide to Renewing Your Dental Office Lease - 4

LEASE NEGOTIATION STRATEGIES FOR SUCCESS
STEP 3: Prepare with Market Research and Develop a Negotiation Strategy

Understanding nuances in the market around your practice is a surefire way to prepare for your negotiation.
Being aware of neighborhood competition, rental rates and local vacancy rates will put you at a huge
advantage, allowing you to set proper and realistic negotiation goals, and give you the confidence to reach a
fair deal for the long term.
Remember, your dental office lease is a huge, long-term financial commitment to your landlord. Even a 3% over
commitment can cost you tens of thousands of dollars in unnecessary costs.

Just like you do every day with your patients through proper treatment planning to achieve a
predictable desired end goal, you want to map out the desired end goal for the negotiation
as well as the strategies and tactics for achieving these goals. This is guaranteed to keep you
focused on what really matters and enable you to achieve the very best outcome.

STEP 4: The Lease Negotiation: Tackling Economics

Be cautious of looking at your landlord as a friend (at least during the
lease negotiation process). If you do, you will lose this game.
Address the financial aspects of the lease with your landlord first by
discussing your rental expectations. Ensure all the major "wins" of the
discussion are documented on paper, and aim to keep the discussion
as formal and as brief as possible.

Negotiate Fair Terms

Once you've addressed the rental rates in your lease, you may begin
negotiating the risks and detrimental clauses highlighted previously
out of your lease.
At this stage, it's important to remember your priorities, future plans,
and long and short term practice goals. Stay focused, have patience,
and ensure you commit consistent time, energy and attention to this
important stage of the process.

"Don't fall into the trap
of focusing all of your
time and energy on
rental rates. Securing
terms in your lease that
offer you protection
is far more significant
than saving a buck."

STEP 5: Final Review & Execution

Prepare the final lease document and give it a thorough review before signing it. Get the final sign-off
from the landlord, make copies, and save them somewhere safe

Questions about your upcoming dental office lease renewal?
Call 1.800.459.3413 today for your complimentary consultation with a leasing expert or
visit www.cirrusconsultinggroup.com/complimentary-dental-office-lease-consultation.
1.800.459.3413
www.cirrusconsultinggroup.com

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Your Guide to Renewing Your Dental Office Lease

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