Standard lease agreements can be challenging, but an NYC virtual office can provide a secondary option that does not break the bank.
Virtual offices are something not everyone knows about, but they share several similarities to typical office rental agreements. Instead of using an exclusive office space, the commercial address and non-exclusive amenities (i.e. conference rooms) are set-up in a package deal.
It is also typical for a virtual office arrangement to start off at a very low price compared to an actual office rental.
In the New York City commercial real estate market, solo attorneys are one of the most common types of professional to frequent virtual offices. Purpose for the virtual office arrangement can vary.
Familiarity with workspace is a common theme among virtual office tenants. This familiarity may lie in an at-home set up or even an office out of state or in another city.
Having this local commercial address allows an attorney to conduct face-to-face interactions without having to acquire the space.
In fact, many attorneys choose a New York City virtual office based on the address of the provider, thereby creating the image of the firms’ exclusivity and largess.
So what makes a virtual office appealing?
Think of a virtual office as a Plan B option. Most attorneys want that physical office space, however, it may not always be in the cards. An NYC virtual office provides a cost-effective route for an attorney to practice as opposed to other types of contracts conducive to standard lease agreements.
An NYC virtual office provides an element of convenience that is almost unmatched for the solo attorney because you have access to the office space when the time comes. It makes it inexpensive because it is typically on a “need only” basis.
Virtual packages are also commonly month-to-month; therefore, if the client finds an office set-up somewhere, they do not have to feel locked into a contract.
Traditional office services, such as guest reception and mail services may be provided as part of the monthly subscription fee and other office services, like phone answering and copy services, can be purchased on a monthly or per-use basis.
Virtually office arrangements parallel a traditional shared office rental set-up a great deal; the main difference is the unbundled fees. The virtual office is perfect front for an attorney who likes to do things somewhere other than the traditional office setting but needs the amenities to maintain a level of professionalism. Moreover, virtual offices are perfectly fine in most regions to use as a genuine office.
When renting a virtual office from a provider who offers reception services as part of the package, your clients can go to the suite to drop off packages, and the law firm can receive service of process, mail and hand deliveries, whether the attorney is physically present in the office or not.
What type of attorney would benefit from virtual office?
A virtual office rental is a viable option for any attorney looking to keep monthly overhead costs to a minimum. In our experience, Law Firm Suites has found three types of attorneys who choose to practice with a virtual office rental:
1. Home-Based Attorneys
Virtual office rentals benefit home-based attorneys will in many instances. There is a need for the amenities that a traditional office provides so attorneys can do their jobs adequately.
A commercial mailing address reception services, and so forth may seem small, but they do wonders for a solo attorney in the long run.
2. Attorneys Starting New Practices
When one sets out to tackle the colossal feat of starting a practice, he or she needs the right resources to get the job done. Money is essentially a resource that needs to be used sparingly in the beginning stages of opening up a practice. A virtual office is a good way to keep overhead low and takes away the financial risk associated with a traditional office set-up.
Also, in terms of attorney networking, virtual offices that are exclusive to attorneys provide a much needed network of potential referrals and knowledge needed for someone just starting out.
3. Out of State Law Practices Seeking a Local Presence
Frequently, law firms with a main office in an adjoining state will choose a virtual office in a major urban area, like New York City, as an inexpensive alternative to maintaining a physical office in desired location. Often, their main office has adequate staff in their home office to handle any business they have, but choose a virtual office to access new legal markets and leverage the prestige a premium commercial office address in an urban center provides.
