Over the past five years, the landscape has dramatically changed in terms of what today’s practicing attorneys consider to be viable, and logistical, space for their firm.
Law Offices Changing with the Times
Traditionally speaking, law firms elected to have their own office spaces, which meant signing a non-flexible lease with a building. However, such is not the case these days.
Technology has many attorneys working remotely, greatly reducing the need for an office dedicated to every attorney in the firm.
Eliminating Large Overhead Costs
For instance, Amata has a fourteen-attorney firm here in Chicago where the attorneys reserve the use of our Amata offices in advance. Between them, they share ten offices, and because they are all rarely in the office at the same time, it allows the firm to keep their office costs down while continuing to grow their practice. The firm maintains an ongoing option to add or remove an office as the needs of their firm change.
Coworking Becomes Commonplace
We live in a business environment where coworking has become the norm for small companies and large corporations alike. It seems only natural that attorneys would want to adapt to this new reality and reap the profitable, worthwhile benefits of shared office spaces.
“So while the world around the legal profession is changing dramatically, few lawyers are making changes to the way they practice law.” - Law Practice Today
The old adage says lawyers are slow to change, and that may still be a true statement, but the firms that will lead the way in the future are quickly moving to play by new rules.
Shared Office Space - Not a Foreign Concept
In many ways, solo and small law practices have already been sharing office space with larger firms for years, so the concept is not totally new.
However, this traditional way of sharing space with larger firms can present several very real, very big problems for those smaller practices.
Traditional Law Firm Space May Leave Your Firm Stranded
The biggest problem is that you may get kicked out with short notice when that large firm you’re sharing space with needs more space for their own growth.
Trying to scramble to find a suitable place at an affordable cost that’s still convenient to your current clients as well as your own needs becomes increasingly difficult when you’re juggling a crunched timeframe.
Another downside to this arrangement is that the larger practice is focused on promoting themselves, not you within the space.
Traditional Law Firm Space Poses Problems for Your Firm’s Expansion
Another rather large issue that should be addressed is when a mid-sized firm takes traditional space with plans to grow. Normally, they will sign a long-term lease for more space than the practice currently needs with plans to add attorneys and staff in the future.
But when those plans don’t materialize as quickly as planned, the firm ends up playing the role of landlord, forced to find other tenants to occupy the empty space until they need it for their own firm.
In the real estate world this “empty space” is referred to as “shadow space”.
Playing Landlord Isn’t Using Assets to Your Advantage
Perhaps the worst part of this process is the fact that the attorney leaseholder rarely has the experience and knowledge of the market and therefore ends up charging tenant-attorney rates below cost, covering the balance with income from the law practice.
At the end of the day, are you practicing law to cover the cost of excess space? Isn’t there a better way to utilize this excess income?
Amata Law Office Suites Provides the Solutions
Amata Law Office Suites is office space designed specifically for attorneys, providing the comradery, connections, and atmosphere attorneys enjoy without the overhead for unused space and long-term equipment lease, reducing the risk of operating a law practice.
You Can Grow and Downsize Your Law Firm as Needed with Amata
As your firm grows at Amata you are easily able to add office space, controlling your costs and incidentally, being aware of your exact cost to add an associate or staff member.
If times become hard for your practice and you need to reduce, you have the option of removing office space to keep your costs in line with your revenue.
Amata Offers Perks You Won’t Find in a Traditional Firm Setting
At Amata Law Office Suites, we’ve been supporting attorneys for over twenty years, so we understand the things you and your clients truly want and need. These are just a few of the perks Amata provides that you won’t get in a traditional firm setting:
- Lead and Referral Generation
Amata places great importance on providing a road for your firm’s success. We host numerous attorney networking events throughout the year where you can gain high-quality leads that are often pre-qualified.
- On-Site Paralegals, Ready to Assist
Not ready to expand your firm’s staff yet but still need some extra hands on deck? The paralegals located at Amata Law Office Suites are incredibly trained and ready when you need them.
- Professional, Trained Reception
Our reception at Amata raises the bar for all others. Professional to the core, they greet your clients and screen your calls so you can focus on the casework you need to.
- Exclusive Marketing Exposure
Amata loves nothing more than to proudly support and promote our members. We offer opportunities that include getting published in Attorney-At-Law Magazine, guest blogging at Amata, and more!
- Flexibility for Every Budget
Why pay for space you don’t need? Add an attorney or staff member, add an office or workstation; lose an attorney or staff member, remove the cost of the space with a one-month notice. Pay for only what you need, when you need it, and increase your profits. Amata Law Office Suites features plans built-to-suit so you can run your firm more efficiently, including virtual and telecommuting packages!
Place your law office where it should be - with Amata Law Office Suites.
For more information, give us a call us at 312-741-1000, or complete the form below.