slide 1: Larry “Max” Maxwell Law
Practice
4 Mistakes Doctors
Make When
Leasing Medical
Office Space
MAXHEALTHLAW
slide 2: 1. Signing A Personal
Guarantee
Landlords love personal guarantees. However as a
tenant you should not. A personal guarantee is a legal
contract between a landlord and an individual to
guarantee a specific obligation of a business usually the
remaining rental obligation under a lease. Personal
guarantees provide the landlord with additional recourse
in the event of a default on a lease agreement. The
implications of a personal guarantee are significant
because your personal assets are at risk should you
default on your lease.
slide 3: 2. Underestimating the Cost
of Tenant Improvements
Tenant improvements for a medical office suite can
be very expensive. Building out space to fit the
unique needs of your practice can range anywhere
from 50 to 250 per square foot depending on
myriad factors such as the current condition of the
existing suite warm or cold shell the level of
specialized requirements for the practice and
personal choice of improvement finishes.
slide 4: Jan. 2020 | Keeping Baby Happy Healthy
3. Underestimating the
Timeline and Complexity of
the Build Out
Just as the cost for tenant improvements varies
by practice specialization and current condition
of the suite so does the project’s complexity
and ultimately the timeline for delivery of the
finished space. For example a practice requiring
a surgery suite and digital x-ray units will take
substantially longer to design permit and build
than a family practitioner’s office that may just
require individual exam rooms
slide 5: 4. Trusting the Landlords and Their Agents to
Represent You
In a lawsuit it is illegal unethical – and even illogical — for an attorney to represent
both the plaintiff and the defendant. There is an obvious conflict of interest. In real
estate transactions this practice is called “dual agency” and it carries with it the same
inherent conflict of interest except that it is legal and done all the time by so-called
“full service” real estate agents. We are unique because we represent only tenants
never landlords.
slide 6: Contact
Us
PHONE NUMBER
972.226.9700
WEBSITE ADDRESS
https://maxhealthlaw.com
MAILING ADDRESS
5339 Spring Valley Rd 200 Dallas TX 75254
FOR FEEDBACKS
OR INQUIRIES