How to Reduce Your Urgent Care Costs

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If you lease or own real estate, consider the following questions.

  • Am I paying the correct rent?
  • Do I have vacant land to sell or lease?
  • Am I sure the total area in the lease is measured correctly?
  • Are the terms that were negotiated being administered correctly?
  • Are my real estate taxes higher than the market?
  • Would my landlord lower the cost of the current lease?

All of these questions have money-saving answers. The current economy has presented business owners with a considerable number of financial challenges-challenges that force entrepreneurs to look for new and creative ways to reduce overhead. An in-depth analysis of your real estate holdings or lease agreement could provide several opportunities to find capital, or reduce your current rental obligations.

Verify Your Space Measurements

Typically, the rent you pay is calculated by multiplying the annual or monthly per square-foot price by the number of square feet in the unit. Over the years, floor plans get changed and as a result, incorrect dimensions may be used to calculate your space. To properly measure your space, you need to determine which type of space measurement to use. A rule of thumb: use outside dimensions on exterior walls, and half of the width between units on interior walls.

Single-tenant building: If you occupy an entire building, your measurement would be an outside wall measurement. For example, if the length of your building is 100 feet from outside wall to outside wall and 60 feet of depth from outside wall to outside wall, your total area is 6,000 square feet.

Single-story building: If you are a tenant in a single-story multi-tenant building with your own entrance and bathrooms, the calculation would be based on a length measurement that would include half of the wall thickness on each side of the space, and a depth measurement that would be from outside of the front of the space to the outside of the back wall of the space.

For example, if your length is 80 feet from interior-wall surface to interior-wall surface, you would then add half of the wall thickness on each side of your space. One half of the space between a wall is typically 6 inches. If you add the SO-feet length to the 6 inches on each side, your total length will measure 81 feet. If your depth was 80 feet from the outside of the wall on the front and the outside of the wall on the back and your length is 81 feet, your total area would be 6,480 square feet.

Multi-story building: If you are a tenant in a building that is multi-level and has common hallways and bathrooms, your measurement would be similar to a single-story building, but there is an additional space that is added to your base-unit area, called “common area.”