At least thirty years ago, my Houston business partner and I were in the business of converting large homes into apartments -- duplexes, triplexes and the like.  We did extremely well.

Our clientele was primarily comprised of young professionals.  We referred to them as the avaunt garde.  They weren't ready for home ownership, and they wanted to live near downtown and near the restaurants, bars, nightclubs, art galleries and the like.

Our properties were in great demand, and they always commanded higher rents than standard garden apartments.

But it didn't take us long to find out that leasing to attorneys was often a bad idea.  They took their lease as a challange to see how they could tight rope the provisions to keep from falling into the fire of default.  As tenants, most of them were nightmares.  They required enormous amounts of our staff time.

They'd pay late, for an example, and many would do their best to get evicted rather than pay the last couple of months of their rent when they were ready to move.  The Justices of the Peace would more often than not rule that we had to compromise on what was owed us.  IF it was three months, for an example, the judge would insist that we forgive at least a month's rent.

We grew to hate attorneys.  Finally, my partner said, "Let's stop renting to attorneys starting right now," so we did.  And it was great fun.  When one of them would fill out our leasing application and list his profession as "attorney," our leasing manager would say, "I'm sorry, we don't lease to attorneys."

Of course they'd hit the ceiling, and begin their mumbo jumbo as to why the law required that we not discriminate against them.  Our stock answer was, "The classification to which you are a member is known as "attorney."  The law does not allow us to discriminate against people because of their race, creed or national origin.  Until attorney is added, we don't lease to them."

I hadn't thought about that in recent years.  A current business situation reminded me of our former good judgement. 

 
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5 Comments on DOING BUSINESS WITH ATTORNEYS - NOT IN THIS CASE.

OCT
09
2009
759,096 Points 13 Featured Posts Localism Sponsor Outside Blog Attended Rain Camp

The Bill Gates microsoft story starts with them NOT taking their attorneys advise and signing with IBM to create DOS. Their competition did take their attorneys advise. Nuf said

8:05am • #1
OCT
10
2009
235,053 Points Outside Blog

I can see where you coming from.  Very funny to us but I am sure some lawyers don't think so.

4:05pm • #3
304,610 Points 18 Featured Posts Outside Blog

If the bar association(s) wanted to do something that would ENORMOUSLY benefit the image of the profession, they would prohibit attorneys from representing themselves, and further, require them to hire 3rd party counsel at that attorneys stated rate.

Thanks for your comments, Miss Joanie, Gene and Big Charlie!

 

4:18pm • #4
OCT
14
2009
725,700 Points 63 Featured Posts Outside Blog Attended Rain Camp Called Shot Master

Hi Bill... I have heard many times that people should never rent to attorneys, now I know why!  Thanks!

11:18pm • #5

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BILL CHERRY

William S. Cherry & No Co., Wealth Coach

Dallas, TX

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William S. Cherry & No Co., Wealth Coach

Address: 9936 Windlake Circle, Suite 101, Dallas, Tx, 75238

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This is the place where we discuss how to manage commissions from real estate sales so that you will accumulate wealth. Call me 972 677-7098 http://www.realtorwealthcoach.com


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