Legal Question in Business Law in Texas

Lease on business buidling

Our 2 year lease on the building we occupy for our hair salon is up in Dec. 07. The landlord has informed us that he is selling the building. We were under the impression when we started this business that we would be there for a while. We took out a loan to outfit the building for a salon and we have people working for us. If he sells the building and the new owner wants to kick us out, then we have lost all that we put into that building (paint, tile, wood floor, etc) Plus we still owe on the loan for the build out costs and installation of plumbing. Do we have a recourse with the owner to get any money from him for the work we did on his building? Can a new owner come in and raise the rent so high we can't afford it? We had no representation at the lease signing, just his agent. This is a first business and I guess we did know what to expect. We thought we would be in the building for a long time. Any help is appreciated.


Asked on 3/06/07, 11:31 am

2 Answers from Attorneys
Johm Smith tom's

Re: Lease on business buidling

You should have considered the improvements when you negotiated the term of the lease; two years is very short for those improvements. You should engage a lawyer this time around so this doesn't happen again.

Read more
Answered on 3/06/07, 12:01 pm
James Grissom Law Office of James P. Grissom

Re: Lease on business buidling

Probably most of the improvements you have made will stay with the premises and will be a lost expense. One of the things new businesses need to do is budget expenses and determine break even revenues.

Read more
Answered on 3/06/07, 11:47 am


Related Questions & Answers

More Business Law questions and answers in Texas