Session 230: Renting Or Subleasing Extra Office Space And Key Points To Launch This In Private Practice

Overview

Today’s topic is a new one in the STC community. Have you ever thought about renting or subleasing extra office space? Whether you might be a prospective owner or renter, today’s show has great wisdom about how that extra office space can be put to good use in serving other clinicians and your community.

Elena Clemente has a practice in North Tampa. She has learned many lessons through renting out parts of her four-person office suite. In today’s show, Elena shares how she found this office space and what kinds of contracts she uses with colleagues who are interested in leasing the space. She’ll also share lessons learned along the way, specifically about features of the office and managing busy schedules. If you’ve thought about sharing office space in this way, then this podcast might be helpful for you.

What We’ll Learn

      • How Elena initially found her office space with her clients’ needs in mind
      • How Elena utilized professional realtors to find the right space
      • Why you need to assess your finances to know what you can afford
      • Guidelines to follow in finding and securing office space
      • What mental health clinicians are looking for in an office space
      • How Elena identified major needs of her clients regarding location and referral base
      • Why you might have to give up something to perform well in other areas
      • How Elena structures her sub-lease agreement with a base rent according to the number of clients seen each month
      • How Elena figured out what rent to charge, based on her expenses and the number of offices available
      • How Elena advertised her office space by using Psychology Today, Craigslist, and word of mouth
      • Three things to consider in determining a good fit for the space:
        • Stay within the mental health industry
        • Allow therapists who cover different niches, so they aren’t in competition
        • Allow therapists who already have an established clientele
      • How Elena ensures that clinicians can pay rent during downturns and slow seasons
      • How Elena and her leasees communicate and help each other
      • How Elena handles scheduling issues
      • The benefit of a business model that runs smoothly whether Elena is there or not
      • How Elena handles extras like printers, files, and wifi

Resources Mentioned

Elena’s website

 

Mentioned by Elena:  LoopNet CoStar

 

Check out our show sponsor:  Zynnyme

Thank You for Listening

I know that our lives are busy, and I’m grateful that you took the time to listen to this week’s podcast. If you enjoyed today’s episode, please share it with our colleagues and friends using the social media buttons on this page. Please consider leaving an honest rating and review for the podcast on iTunes as this helps the podcast reach more of our colleagues who want to build successful practices. Finally, feel free to join over 4,000 of our colleagues who are signed up for the Selling the Couch newsletter. You’ll learn valuable tips to build and grow your practice and get the podcast episodes delivered right to your inbox. You’ll also get FREE access to The Tax Write-Off Check List for Mental Health Private Practitioners.

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Today’s Awesome Sponsor ZynnyMe

To check out the brand new FREE 4 Part Masterclass offered for therapists by ZynnyMe, go to sellingthecouch.com/zynnyme

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