Sharing Your Space: Things To Consider When Looking For An Office Mate 

 2/1/2010 

Excerpt from American Medical News

Most physicians who sublease their space charge a one-month deposit and collect rent from their tenants monthly.

More common than payment issues, however, is subtenants spreading throughout the office.

"We call that 'scope creep' or 'space creep.' It's like water that spreads into the space available," said Bill Lichwalla, president and CEO of real estate consultants Plante Moran CRESA, based in Detroit. One solution may be increasing the rent as more space is being used. "It's so important to have really good expectations memorialized in a sublease agreement."

Subleases should not be written for a longer span than the original lease covers. In addition to spelling out what the rent includes, the sublease should also outline how the contract can be terminated. Most involved in these arrangements suggest a one- to four-month notice that allows for a fairly easy exit.