Your sublease office space NYC may seem like an amazing deal, but don’t expect that price to stay as low as advertised.
Law firms that sublet office space in New York City are not in the business of being a landlord. Unlike executive suites NYC for lawyers whose sole job is to operate and manage your office space, law firms that sublease office space often do so because financially, they have no other choice.
Their practice may have recently contracted or their receivables may be down. Subletting law firms make up the difference by allowing solo and small firm lawyers to share their existing office space, often just to break even. You and your firm then become a potential financial revenue source for the subletting law firm.
Firms may advertise a rate that seems like a good deal, but when you factor in additional recurring expenses, the sublet may be pricey.
Make sure you understand all the extra charges that you will be responsible for in a law office sublet, including:
- You get unlimited conference room use, that is, unless you use more than 12 hours a month, then it’s $100 hour.
- Rent is $1,400/month, but you have to pay a fee for reception (which is required whether you use it or not) of $250/month.
- You can use the firm’s copy machine, but at a rate of $0.50 a page.
- You can use the firm’s Internet, but if bandwidth isn’t suitable for your uses, you’ll need to acquire your own solution.
- You’re required to use the firm’s phone system, but to do so you’ll have to purchase some pretty expensive equipment and get additional landlines for it to work.
- Sure, you can use the water cooler, but it will be an extra $50/month.
These additional charges quickly add up. Your great sublease office space NYC find can become a gaping money pit.
Learn more about how to find the best office for your law firm in Law Firm Suites: The Insiders Guide to Finding the Perfect Law Office.
