Finding your way to a safe lease

Doctors and managers entering practice lease negotiations know it is a complex journey. Bryn Morgan gives some really useful tips to help and warns of the traps.

If you have a private practice, you will know that the location, quality and cost of your premises are of fundamental importance to the ongoing success of the business.

Your practice may even be synonymous with its location, and maintaining that presence could be crucial to the goodwill of the business and its sale value.

If you do not own your practice premises, the chances are that you have or are looking to take a lease, which will typically be for a fixed term at a market rent.

Either your practice may be starting out and looking to enter its first lease or the end of your lease term may be approaching and you are looking to renew or perhaps relocate. In either case, what are the key issues you should be considering when starting lease negotiations?

The truth is that agreeing lease terms is highly complex and professional assistance should always be sought. But we will consider here some of the common tips and traps to look out for when negotiating with your landlord and planning for the future of your practice.