Medicine is no stranger to the concept of coworking. For many years, it has not been at all unusual to find different medical practices renting space within the same building, at about 2,000 square-feet and a long-term lease apiece. However, according to a recent report from National Real Estate Investor, there’s a new twist to sharing medical office space: Renting just one office, for just the days or hours it’s needed or coworking medical office space.
The downside to the traditional idea of renting a large space for a long period of time, the article notes, is that many practices had to commit to more space than they needed or could afford, and hope to attract another practice to move into that extra space and help with the bills, or else be forced to fit into someone else’s extra space. With the new model, a tenant signs up for just one exam room or a few rooms, for however many days or even hours a week that the room is needed. The space is often made available through an access card that only works for those specific hours or days. The tenant is charged a weekly rent based on the time they’ve signed up for and the lease can be canceled within a relatively short period of time.
While the situation may not be ideal for every doctor or every practice, the report notes, many young doctors and up-and-coming practices are finding this trend to be a good way to save the money and time spent on paying for and maintaining a large space, thus spending those efforts on building clientele and making a profit. The model works for investors too, as more medical professionals seek the flexibility and other benefits provided through timeshare and coworking spaces.
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