Practice Management

Let us face facts.  Most law student, many new lawyers, and some establish attorneys are renting apartments.  I know of attorneys that are also trying to practice out of their apartments.

If that is true for you, then although the economic downturn can be a bad thing generally, it might offer you some relief in regard to rent and amenities. 

As reported by The Wall Street Journal, the apartment glut is expanding and looks like it is going to continue to expand through part of next year.  As a result, rents are falling, and deals can be had.  As stated by one renter in the WSJ, "Renters are the ones with the power".  She had just rented a apartment in New York for $1,950.00, which was down from $2,450.00 from the previous tenant.

It is estimated that vacancies will peak, and rents bottom out by mid- 2010.  So, if your apartment complex is not willing to deal now, it might be the time to move when you can.