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The signing of a lease represents a significant financial commitment.Because hiring legal counsel to negotiate a lease is prohibitively expensive, the negotiations are conducted by the parties.Thus it is necessary for the lessee (you) to understand the terms of the lease offered by the lessor (landlord).
In optometry, there are two types of leases that are most commonly employed.Office leases are long-term agreements forspace in which to practice.Equipment leasescan be used as asubstitute for the purchase of ophthalmic instruments and equipment.
*Moderate sized offices usually include a second examination room, contact lens area, larger laboratory, a data collection (workup) room, a second bathroom, and a private office for the doctor.
total costs $470,000
(such as from a malpractice case)
Equipment leases may be preferable to buying—such as when an optometrist does not wish to borrow money to purchase the equipment or chooses to use the capital for another purpose (e.g., buying a house). However, leasing ophthalmic equipment is typically more expensive than buying it.
As with other types of leases, it is always best to consult legal counsel before signing the contractDefault on lease payments creates the same legal difficulties as default on a bank loan; thus, the affordability of a lease arrangement must be given due consideration
“If you’re looking for a new lease on life—look somewhere else.”