contracts

[shelley-Anne]

hello,
i really need some advice, can anyone help me.
I started renting 2 large rooms in a hair salon just over a year ago. things are going well, I have regular clients and always making new ones, fingers crossed my beauty salon is taking off.

My problem is that i was really stupid and never signed a contract and now the owner of the hairdressers is talking about selling up as she is in so much debt or making herself bankrupt!!!

I dont want to lose the rooms iv got ( i get them at a good rate) or have to move.
im so worried she is going to take me down with her. (i have worked so hard to get where i am)
Should i go to a solicitor and get my own contract made up, im also worried that if someone else buys her out that they will chuck me out or increase my rent!!!

SHELLEY-ANNE X X X

 

[loubylou]

Shelly if you are doing really well with clients this is a perfect opportunity for YOU to buy her out,
she would have to sell at a bargain price if her business is doing badly as it would be reflected in her books,
I'm sure if you looked into it you would be able to this,
all you need is a fab business plan,
possibly a business loan,
a great solicitor,
and plenty of guts and determination,
if you do it between yourselves you could ask for a reduction in price as she will have saved a few thousand by not having to use an estate agent and it will be a better option for her rather than going bankrupt HTH :hug:
You could make extra money by renting out the hair styling chairs to help out with over heads.

 

[naildoctor]

I agree with Loubylou, sounds like an open door of opportunity for you. Just be sure that you won't be assuming any of the owners debt.