A virtual office rental is a financial arrangement where solo attorneys and small law firms pay a low monthly fee to rent the use of a premium commercial address in an executive office suite and the non-exclusive use of office space and amenities, such as conference room facilities, private office, a staffed reception area and access to professional grade internet, telephone, and office equipment.
Many solo practitioners and small firms find it cost prohibitive to outfit a well furnished office.
For instance, in downtown Naples a solo practitioner or firm can expect to have a brick and mortar office with 1,000 square feet for around $2,000 a month for rent and utilities (not including the initial setup costs which would be at the very least $3,500).
Then, to hire a person to handle phone answering and reception services would cost around $3,000 per month.
A virtual office allows you to have a swanky place to work and meet clients without having to break the bank, on a related note, meeting clients in coffee shops and other public places is problematic.
For one thing, it is difficult to have a confidential conversation in that environment; plus, your client may not want to share emotionally sensitive information with you under those circumstances.
The virtual office arrangement can be as minimal as having a mailing address for the Law firm to list on court filings and receive mail (the most “virtual” of virtual offices) to having a receptionist answer your calls, with a dedicated private office suite and access to a conference room to meet with clients for $300 per month.
Home-based attorneys rent virtual office space largely for the same reasons as the newly solo attorney: It’s an inexpensive way to get a premium commercial address; and they get a consistent, professional place to meet with clients, host depositions, or closings.