There is a lot to consider when you are evaluating the pros and cons of renting vs. buying office space for your legal practice.

It is a big decision, and you certainly have some research to do.

Today, we’ll consider some pros and cons to think about when deciding what type of office space is best for you.

Pros of Renting vs. Buying Office Space

Consider this handful of benefits of renting a shared office space.

Flexibility 

In the post-COVID era, people have come to enjoy the flexibility of being able to work from anywhere.

That potentially includes working from home one day and from the office the next.

A shared legal office space allows you to determine where you want to be with minimal commitment. 

Property Maintenance 

If the coffee machine isn’t working in your shared legal office space, it is not your responsibility to fix it.

That may seem minor, but when it comes to things like landscaping or new furniture, the added expense and responsibility of maintaining a full-time office can be significant. 

Practice Location 

One benefit of renting a shared office space is the ability to build a legal practice in a desirable location regardless of the real estate market, which can be a barrier to entry.

You can work from anywhere in the area and use the shared space for client meetings. 

A shared office space allows you to take a trip and work from wherever you land.

Whether you are a resident or just passing through Las Cruces, the Mesilla Legal Center can meet your needs. 

Cons of Renting a Shared Office Space

Renting a shared office space is not for everyone. Here are some reasons why it may not be the best choice for you. 

Growth Potential 

If you are hoping to grow your practice into a large or even mid-sized law firm, working out of shared office space might be more difficult.

Your legal practice may be better served by a large office building that can house all of the associates you employ. 

Less Control  

A shared office space designed for a legal practice should have all the necessary amenities, but if you like things a certain way, you may not have as many options.

This includes things like decor, floorplans, and more. 

No Property Equity 

Owning your own law office building allows you to build equity in the real estate, but renting does not.

For those who want to build real estate equity or prefer the traditional, daily feel of a brick-and-mortar practice, purchasing may be a better option.

Renting vs. Buying Office Space in Today’s Legal Industry

The legal industry is changing. Shelves of case law have all but been replaced with online databases.

Courthouse submissions are mostly digital now, and sometimes court appearances can even happen through online video conferencing.

If you are an attorney on the go, the shared legal office space at Mesilla Legal Center may be exactly what you are looking for; a flexible, professional atmosphere with everything you need to run your practice. 

Rate this Post

1 Star2 Stars3 Stars4 Stars5 Stars
Loading...