Discover why cost, collaboration and community are the three main reasons why lawyers choose to use virtual offices.
A virtual office rental is a financial arrangement where solo attorneys and small law firms pay a low monthly fee (typically starting at under $100 month) to rent the use of a premium commercial address in an executive office suite. Most virtual office plans also include access to office space and amenities, such as conference room facilities, a staffed reception area and access to professional grade Internet, telephone, and office equipment.
What types of attorneys typically use virtual office rentals?
When it comes to attorneys, those using virtual office rentals fall into three groups:
- Solo attorneys who recently started their own law practice,
- Solo attorneys who primarily work from a home office, and
- Solo attorneys and small law firms whose primary office location is located in another city or another state.
3 Reasons Lawyers Choose to a Virtual Office for Their Firm
1. It costs less money than renting shared law office space.
Cost is the primary consideration for choosing a virtual office rental. Most times attorneys would prefer to be in a shared law office space, but their budget may prohibit taking on the extra expense. For a minimal monthly cost, a virtual office rental bridges the gap between starting a practice and being able to afford a physical office.
A virtual office rental provides legal professionals with a premium commercial address for their firm, which gives the practice more credibility. Plus, if the virtual office provider is also an operator of an executive suite, the lawyer will typically get access to a professional workspace to meet with clients when they require it.
When the attorney is ready, they can then transition into a physical office space, usually in the same address as their virtual office rental, without the disruption that comes with changing the address of your law practice (their address would stay the same).
2. Collaborating with other virtual clients gets you quick answers to practice questions.
The practice of law is becoming extremely specialized and lawyers are focusing on increasingly niched practice areas. Attorneys in certain practice disciplines often need the advice of other attorneys in complementary practice disciplines to fully and competently service client matters.
For the solo attorney or small law firm, collaborating with other virtual office rental colleagues in complementary practice areas allows them to fully service their clients.
For example, in B-to-B practices such as M&A, an attorney may have practice issues during the scope of client representation involving other practice disciplines. For instance, complex taxation, intellectual property or employment law issues.
In a lawyers-only virtual office arrangement, the M&A attorney can ask his colleagues to sit on meetings or co-counsel on deals. This provides both more competent client representation as well as the illusion that the M&A lawyer has a much larger firm than in actuality. Which will not only help them with their existing clientele, but the M&A lawyer can now use this “deep bench” of resources as a selling point with new potential clients.
The same can be said for a business to consumer practice as well. For example, immigration attorneys often have ancillary issues that involve family law, matrimonial law and criminal defense.
3. Working from home can be lonely. A virtual office provides access to a social outlet, making work that much more fun.
Many Manhattan virtual office rentals are “one-size fits all.” By choosing a virtual office rental exclusive to attorneys, you already have a commonality. These exclusive arrangements are collegial in nature.
When facilitated correctly by management, a virtual office rental facilitates an environment where like-minded individuals can create long-lasting personal and professional relationships.
It provides the best of what a law firm has to offer, in terms of socialness and collegiality, without the aggravation that can come with sharing economics with partners.
