Re: Re: Fwd: Sharing office space

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Ask a local realtor how much spaces like you have are going for

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> > > > **************Start the year off right. Easy ways to stay in shape. >

http://body.aol.com/fitness/winter-exercise?NCID=aolcmp00300000002489> > I have a specialist who approached me to share my office. Any thoughts on > how to work out the cost details. > I was thinking to split the rent and utilities and expenses in half since he > will be there 5 days a week.> Any ideas?> > > > **************Start the year off right. Easy ways to stay in shape. >

http://body.aol.com/fitness/winter-exercise?NCID=aolcmp00300000002489>DocSingh760,We are considering a similar agreement with another provider. 1/2 seems very reasonable. Maybe too reasonable? If you have to handle the " administration " of the lease property- i.e. setting up and paying the utilities, phones, buying furniture, hanging pictures etc. And… you are the primary on the lease, which makes you liable for damages to building (usually) and what else? Perhaps you should consider the time it took to find, set up, and maintain your location and factor that into the cost? Someone offering $500 for " part time " use of our extra exam room recently approached us. It's tempting, especially because we are just starting to make a profit. I almost jumped at it. Then I started thinking about how much work went into getting this place ready to

open and the time involved in the " details " ... I think a sublease tenant should pay some " Administrative " costs. OR possibly even fatten the bottom line for my efforts. It's A LOT easier to walk into an operating facility than start one up. OH…But then there's the " Possibility of referrals. It's a lot to think about. We're stalled on the issue for the moment.Good luck to you!Matt McCoy

Office Managernn Volmert DOPasadena Ca -- M.D.

www.elainemd.com

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I would suggest that you charge 60% of the cost if the other doctor is going to use 50% of the space. You have the overhead and risk of managing the space such as lease , utilities . It will take some time every month figuring out what the costs of the office are. There are a lot of details to work out. Will this doctor have his own phone lines and receptionist. Will he stock his own rooms with supplies. When the toilet overflows spreading water over half your office who fixes it and mops up. Make sure that the doctor has his own phone line and number even if you are going to share a receptionist. Sharing an office can save a lot of money but can also be a pain. When I did it starting out, I was the one leasing and all utilities and supplies were paid by me and then I charged my tenant. All the equipment was mine and its use was leased by my tenant. It kept the finances clean and very easy to sort out when my tenant left. Larry Lindeman M.D.Roscoe Village Family Medicine2255 W. RoscoeChicago, Illinois 60618 >> > > > > **************Start the year off right. Easy ways to stay in shape. > http://body.aol.com/fitness/winter-exercise?NCID=aolcmp00300000002489> > I have a specialist who approached me to share my office. Any thoughts on > how to work out the cost details. > I was thinking to split the rent and utilities and expenses in half since he > will be there 5 days a week.> Any ideas?> > > > **************Start the year off right. Easy ways to stay in shape. > http://body.aol.com/fitness/winter-exercise?NCID=aolcmp00300000002489>DocSingh760,We are considering a similar agreement with another provider. 1/2 seems very reasonable. Maybe too reasonable? If you have to handle the "administration" of the lease property- i.e. setting up and paying the utilities, phones, buying furniture, hanging pictures etc. And… you are the primary on the lease, which makes you liable for damages to building (usually) and what else? Perhaps you should consider the time it took to find, set up, and maintain your location and factor that into the cost? Someone offering $500 for "part time" use of our extra exam room recently approached us. It's tempting, especially because we are just starting to make a profit. I almost jumped at it. Then I started thinking about how much work went into getting this place ready to open and the time involved in the "details"... I think a sublease tenant should pay some "Administrative" costs. OR possibly even fatten the bottom line for my efforts. It's A LOT easier to walk into an operating facility than start one up. OH…But then there's the "Possibility of referrals. It's a lot to think about. We're stalled on the issue for the moment.Good luck to you!Matt McCoyOffice Managernn Volmert DOPasadena Ca