The most common type of transaction in healthcare real estate is the lease renewal, and there are a few important things to consider when entering into this type of transaction.
The first is that there are two opposing parties involved. On one hand, you have the landlord who might see hundreds or even thousands of these types of transactions over the course of their career and on the other is the tenant who might only see three or four. Because of this, the scales are often tipped in favor of the landlord.
The second thing to consider in a lease renewal is timing. It’s in the landlord’s best interest to give you as little time as possible to consider your options. If you do not think you can move or the landlord thinks you won’t move, that will allow the landlord to dictate the terms of the negotiation.
Another important and often overlooked consideration in a lease are the dates. Most tenants believe the most important date in a lease is the expiration. That may not be true. In many leases there is a renewal notification period and with markets at an all-time high the renewal may be your best option.
The final thing to consider in a lease renewal is that you have a proven strategy to get you the best possible terms. At CARR, we’ve done thousands of healthcare real estate transactions and can tell early on which strategy is best in any given scenario. Every deal is different and your strategy should be as well.
About CARR
CARR is the nation’s leading healthcare real estate advisor. Every year, thousands of practices trust CARR to achieve the most favorable terms on their lease and purchase negotiations. Our team of experts assist with start-ups, lease renewals, expansions, relocations, additional offices and purchases.
CARR also specializes in practice transitions and representing national healthcare accounts.
For more information please visit https://carr.us/
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