Office Lease Renewal/Renegotiation
One of the most common transactions in commercial real estate is the renewal and extension of the office lease agreement. Landlords often take advantage of healthcare tenants through the renewal process as they are aware that it is highly unlikely that you will move and present a one-sided arrangement with the expectation that the tenant will sign back immediately. Rushing through this process and accepting the landlords terms at face value can drastically reduce your bottom line and put the practice in a unfavorable long term arrangement.
With WeCare, this un-favourable situation can be entirely avoided with our curated office lease renewal/renegotiation process. During this process we:
- Review the existing dental practice Lease Agreement and supporting documents to identify liabilities and recommend amendments.
- Analyze the current and projected fair market dental office rental rates
- Leverage the long-term predictability and lack of default dental tenants provide to obtain favorable terms.
- Perform healthcare Lease Negotiations, including preparation and negotiation of the Lease Extension and Amending Agreement
Office Expansion/Relocation
Congratulations on the success of your dental practice! Now that you’ve outgrown your space, there’s one big question that needs to be answered – should you expand your current space or relocate to a larger facility?
While it may be tempting to stay and expand, that isn’t always the best option for your business. At WeCare, we’ll help you determine what makes the most sense for you by:
- Performing a site feasibility analysis
- Preparing and negotiating the Letter of Intent/Agreement to Lease
- Performing lease negotiations on your behalf
- Minimize down time for the practice.
Practice Sale/Acquisition
Whether you’re looking to complete a practice sale or a practice acquisition, WeCare can help you navigate these complex commercial real estate processes involved with the assignment of the lease and ensure you get your money’s worth. The value of the practice is largely determined by the terms, conditions and financial arrangement of the lease agreement. Real estate is typically the 2nd highest expense for healthcare practices, so it is essential that this is done correctly. Our comprehensive lease assignment process for practice sales and acquisitions entails:
- Reviewing the existing Lease Agreement, including supporting documents, to identify liabilities and recommend amendments
- Ensure the lease has appropriate amount of term to faciliate a sale/acquistion
- Preparing and negotiating the Lease Assignment and Amending Agreement
- Preparing the Lease Extension and Amending Agreement (if applicable)
Purchase Commercial Real Estate:
Are you an established practice looking to take the next step in your career by owning commercial real estate and becoming a landlord?
The WeCare team’s network of established brokers and real estate professionals can find you the right investment opportunity for the practice home. With our deep marketing knowledge and understanding of the dental and health care requirements we can assist in finding the right space to acquire for your new practice.
When helping our clients through the lease termination & disposition process, we:
- Review the existing Lease Agreement to identify a potential exit strategy
- Negotiate terms pertaining to the lease termination
General Business Advisory
If you have unique business needs that don’t quite fall into one specific commercial real estate category, you can turn to our consulting services to get the answers you’re looking for! Dental business solutions WeCare offers include:
- Marketing/growth strategies
- Practice sales/acquisitions
- Succession planning
- Employment matters