Office lease for pain Clinic

[inspire004]

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I am looking into few leases for office space. My CPA says have your PLLC on the lease for taxes purposes. In terms of guarantees , did you have to put your name as personal guarantee. The whole idea of an LLC is to not take personal liability. Any thoughts appreciated. Since my situation is a start up, some land lords want personal guarantee of my name in addition to PLLC .

 

[ssmallz]

Sounds like it's time to talk to a lawyer, not some random dudes on the internet. Laws can vary from state to state and lease to lease

 

[inspire004]

Thank you, spoke to one lawyer. He says,it's always better to keep all the lease agreement on PLLC. But the land lord at one place I like is not willing to just put PLLC but added guarantee on my name. So in case I get into trouble with practice and close up , he still has the hook for me as payer of lease. Any new start up how did u guys negotiate this item..

 

[Pain Applicant1]

I own my own practice and real estate, both commercial and residential and including my building where my practice is located. My PLLC rents from my LLC. You don't necessarily need a lawyer or an accountant if you're willing to do your homework. I find that I when I read up on things I often end up being more up to date than the respective professionals.

Anyhow, I don't and won't rent commercial space to an LLC or PLLC without a personal guarantee. I would never sign a lease with your PLLC only and no landlord will do that unless you're dealing with a very inexperienced one. Guarantee it personally and have some faith in yourself that you'll be successful. When I started up and rented initially I personally guaranteed my lease agreement with my landlord. Also, you should do your homework when it comes to commercial leases, they're a completely different ballgame than residential ones. You can learn a lot from the internet and the library.

With that said, I am neither an attorney nor an accountant and I am not giving any professional advice. Take what I write at your own risk.

 

[inspire004]

I own my own practice and real estate, both commercial and residential and including my building where my practice is located. My PLLC rents from my LLC. You don't necessarily need a lawyer or an accountant if you're willing to do your homework. I find that I when I read up on things I often end up being more up to date than the respective professionals.

Anyhow, I don't and won't rent commercial space to an LLC or PLLC without a personal guarantee. I would never sign a lease with your PLLC only and no landlord will do that unless you're dealing with a very inexperienced one. Guarantee it personally and have some faith in yourself that you'll be successful. When I started up and rented initially I personally guaranteed my lease agreement with my landlord. Also, you should do your homework when it comes to commercial leases, they're a completely different ballgame than residential ones. You can learn a lot from the internet and the library.

With that said, I am neither an attorney nor an accountant and I am not giving any professional advice. Take what I write at your own risk.

Thanks for the reply
I did read up, did u hire a lawyer to negotiate. There is a decent book for dummies on commercial lease negotiations. I liked it . I should place my PLLC with personal gurantee . I should also start an LLC . Which your are suggesting. Could you be specific on what sources. Nolo seems good for small biz updates and tax and book keeping.

 

[Pain Applicant1]

I like Nolo books but there are plenty of others. Just visit the local library. I'm not suggesting you start an LLC and a PLLC for your medical practice. There would be no point in doing that. My commercial real estate company is its own LLC so my medical practice PLLC rents from my commercial real estate company LLC. I have several other companies as well and each is its own LLC for liability protection reasons. It also makes my accounting easier.

I don't allow anyone else to do my negotiating so I do my own, unless of course I'm kind of forced to.

 

[inspire004]

I like Nolo books but there are plenty of others. Just visit the local library. I'm not suggesting you start an LLC and a PLLC for your medical practice. There would be no point in doing that. My commercial real estate company is its own LLC so my medical practice PLLC rents from my commercial real estate company LLC. I have several other companies as well and each is its own LLC for liability protection reasons. It also makes my accounting easier.

I don't allow anyone else to do my negotiating so I do my own, unless of course I'm kind of forced to.

I think we are on the same page. If you own real estate and have other companies make sense to have llc. The owner is agreeing to sign with out personal guarantee . Let's see how far it goes. ..thanks for the take on book keeping. I think you have good entreprenueral and leadship skills. Not just I will make more money zombie docs

 

[Pain Applicant1]

Just be sure to understand the structure of commercial leases. They're not the same as residential and the price you're charged may be only part of your total monthly charges. Be sure to understand who's paying for trash, CAM, snow removal, insurance, etc. Understand what CAM is. Know the difference between triple net, gross, etc. Know who's paying for the buildout. Know who's paying the rent during the buildout, etc. Good luck!

 

[inspire004]

Thanks, as they say devil is in the details. The only thing I got to pay is making a fluro suit. No lead lining in this location. He plans to refurb, paint, new carpet, looked into the cam, asso fee, trash. There is so much to know. The darn lease is 30 pages, got a lawyer and real estate friend review. Its an important step.

 

[nvrsumr]

Thanks, as they say devil is in the details. The only thing I got to pay is making a fluro suit. No lead lining in this location. He plans to refurb, paint, new carpet, looked into the cam, asso fee, trash. There is so much to know. The darn lease is 30 pages, got a lawyer and real estate friend review. Its an important step.

Many states dont require lead lining. There is usually a list of radiation physicists in the state who can tell you the guidelines and give your machine a yearly inspection.