Are you ready to establish a health care setting, be it a medical practice, ambulatory surgery center or a hospital? Have you carried out a needs assessment to identify the market gaps?
You will not go wrong with leasing a real estate holding rather than building it. As much as it is advantageous, you may not just wake up and decide to rent property. However, here is a quick guide to help you on the do’s and done’s involved in leasing a hospital.
To start with, establish an appropriate location. Is the area you hope to rent the hospital close to the market? The place of other auxiliary services, accessibility and aesthetics. Look at existing such avenues and where they are located.
Consider the cost requirements. You can only work within your budgetary limits. Check the overall price involved: the cost of renting the holdings, the build out, the miscellaneous expenses expected to like the cost to employ security systems.
Don’t ignore the existing laws and regulations. Laws in one state or country may not apply in another. Check whether there exist such rules like the federal Stark’s and Anti-Kickback laws. Yearn to learn the requirements as outlined by the regulatory bodies for instance HIPAA regulations may require the lease to limit a landlord’s access to the premises where patients’ medical records are stored or kept.
Scrutinize the rental agreement.Look whether there exist requirements that are unique to healthcare settings. Are there exclusivity provisions? E.g. the clause prohibits the landlord from renting out another area in a medical office building to a health tenant with the same type of medical practice. What are the provisions in case you would like to expand the business?
The clause prohibits the landlord from renting out another area in a medical office building to a healthcare tenant with the same type of medical practice.
To get more on leasing hospital setting, medical equipment, nursing homes, and health facilities information in general, keep visiting our blog or contact us.