Lease Costs

2 min. read

When you talk to a leasing agent, you’ll probably begin by discussing square feet. For example, if you ask, “What is the cost of 1,000 square feet?” They might say, “We are asking $18 per square foot.” You can calculate your cost by multiplying the cost per square foot times the number of square feet. This is an annual cost, so you have to divide by 12 to get a monthly cost. In this case, the monthly cost would be $1,500.

Some leasing agents use the term “leasable or rentable square feet.” This refers to the physical office space (the usable square feet) plus a percentage of the common area (the area used by all tenants, such as corridors, restrooms and elevators). So what the agent has told you is in order to have 1,000 square feet you must also pay for the common area. If the common area is 15% of the building you are paying $18 per square foot for 1,150 square feet or $21.70.

After you’ve figured out the “true” lease cost, the next step is to discuss annual increases. Some leases increase by a fixed amount each year.

Join for FREE and keep reading...

To keep reading, join our free Starting with Success program now! As a new ND, we know you need resources to help you succeed as you launch your career. Starting with Success is your free one-stop shop, whether you’re looking for resources related to job-hunting, joining an existing traditional or integrated practice, or starting your own. A few of our helpful resources include:

  • Articles on everything from contract negotiation to marketing plans
  • Practice Checklists
  • Free webinars 

It’s important to us that the naturopath profession grows and thrives, regardless of your insurance provider — but we’re always here when you need us, whether it’s insurance or financial solutions.

Sign in Join for free

Hundreds of resources...join for FREE!

Join for free

This website uses first party and third party cookies to improve your experience and anonymously track site visits. By visiting this website, you opt-in to the use of cookies. OK