Practice Management

When are you meeting with your Landlord

Negotiating is a question of power. The Chicago tribune reported today that:

Layoffs at Chicago law firms have sent a shudder through the commercial real estate market.

The article, Cutbacks at firms worry landlords, quotes Bill Rogers, managing director of commercial real estate firm Jones Lang LaSalle:

"I do have a sense that you may see some landlords get a little more aggressive and push rates down"

The articles continues:

That is likely to push firms into the real estate market. Sonnenschein, whose lease in Sears Tower doesn't expire until 2014, has retained Jones Lang LaSalle to test the market on a possible move. 

PUNCHLINE:  Managing Partners - you may not want to participate in the negotiation yourself for tactical reason but think about your timing for raising the prospect of more favorable terms with your landlord and perhaps some other folks on your payables list.

Full post as published by Amazing Firms, Amazing Practices on October 28, 2008 (boomark / email).