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Has anyone negotiated a retainer for legal help? We have a 20 unit condo and were thinking it would be easier (and maybe cheaper) to deal with a lawyer with a monthly retainer as opposed to as needed (and on the clock)? We are a small condo-- 20 units. I would be curious to know what fees others are charging and how this has worked out for coop/condos using this method of support?
Thanks in advance, JES
Same response, same $$ retainer.
For a small 20 unit condo, you may wish to find a smaller firm that will answer your questions without charge. Most of mine I keep on a case by case basis and call them for advice and questions as needed without charge. I have several that I use that are like this and there are many more out there. I do keep larger firms around me with 2 of them on retainer for larger buildings (but still utilize the smaller ones for the questions!)
~AR
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I actually posted something on Habitat's Blog about this subject the other day. We are paying a retainer (about $18K annually) and we get our money's worth; however we are a much larger building than yours (400+ units) and probably encounter more legal questions than a smaller building. Keep in mind that the retainer generally covers only routine legal questions and advice - if you initiate or are defending an actual case, the meter starts running.
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