You’ve found the perfect location and have progressed to negotiating the terms of your office lease or the purchase of the property where your office will be operating. While things may seem well and good, a hazard lurks, waiting to be uncovered: due to a use restriction, you can’t open a dental office in the space.
Opening your dental practice will involve a substantial investment of your time and money, particularly in the design and construction of many specialized improvements that you’ll need to support your dental equipment. While you may be fortunate enough to find office space that is appropriately plumbed for dental use, typically office space is delivered ready […]
Consider this scenario: You have an established and successful dental office with a substantial patient base drawn from the area that you’ve cultivated over the years. You also have a substantial investment in customized office space that you built out. One day, you receive a notice from your landlord that you must relocate your office […]
When you choose a location for your future dental office, you’ll also be picking your future landlord, at least initially. Over time, your landlord may change. A possible case involving a change of landlord is in the case of foreclosure. This happens when the landlord’s lender takes over the lease after the landlord failed to […]
Your dental practice is a valuable asset and protecting it from competition to the extent possible is crucial. Another dentist opening a competing office next door or down the way can quickly undercut your future business and all that you’ve invested in establishing a successful practice. A competing dentist may capture would-be patients or steal […]
When it’s time to enter into a lease for your dental office space, your practice entity (rather than you, individually) will likely be the tenant under the lease which helps to protect you and your personal assets from the many potential liabilities that your dental practice may have as a tenant. However, this puts your […]
When you’re thinking about building up your dental practice, it pays off to anticipate and plan for events that will likely happen far in the future. And, when it comes to your lease, an important future event to plan for is the “assignment” of your lease in connection with the transition of your practice. Assignment is […]