Are Eurogroup in Financial Trouble

2013 Another year and the rents are very late.

Rental late again this year 2016.

Eurogroupe M/V seems to pay people in lists, apparently we are on the next list and should be paid in the next two weeks.

Fed up of management company having all the say.

When thinking about it we seem to pay every thing and they pay nothing for the use of our house for the whole year 

apart from a small rent, Rental this year1600euros (wish we could rent a house in England for that amount).

with all the bills paid and the house furnished.

Well thats my rant over for this year.

Hi my name is Patricia and I have just discovered this website and the forums.

I am also with Eurogroup and find their performance in need of much improvement. Signing up to these contracts has been a disaster from start to finish, we were taken total advantage of and not given the correct information. There most be some law that protects people from being duped into signing a commercial lease with serious ramifications without any legal advise and being forced to put up with sub-standard management companies who are losing us money every year.

I spoke to a lady yesterday who is equally frustrated from a different management company. She wants to try and form a group and hopefully eventually a very big group who will find ways to exert pressure to fight for our rights.

I am in Dublin anyone interested in joining our group can phone me at 086-3524810.

We shouldn't give up; together we can make progress.

Hi,

I have a property in SW france and use the management company eurogroups .I have found a buyer for my house as i need to sell ASAP

and  was told last september that I need to pay an exit fee of 12,500 euros, plus the TVA which is now around 12,000 euros as i have had the property for 9 yrs.

I have now found a buyer and eurogroups have informed me that the exit fee is  now 26,000 euros.

Can anyone shed any light on how they can do this?

Also I did not re sign anything after the 9 yrs was up on the lease, so am I atill tied in with them??

Any help advice would be appreciated.

it is criminal the way thsi organisation treat homeowners.

Hi 

I have a villa in Fonenelles and have gone through all that has been said on Eurogroup on this and other forums - basically we all have to stop bitching about Eurogroup and do something about them. Yes -

We were misold these leasebacks - get over it - we did not take independant legal advice but relied on a Notaire to protect our interests - there lies the problem - he was probably mixed up in the scam as well - along with the developers and management Company.

Eurogroup will try all means to bully you into submission, I am afraid the only way to fight this company is trhough your own legal action in the courts - many of you will not want to hear this, but I am afraid it is the only way. Forget about class actions they do not exist in France for this type of litigation, you each have to go it alone. There will be costs involved maybe upwards of 5,000 to 10,000 Euros, if you are not prepared or not in the financial situation to take them on then I am afraid, no amount of bitching or moaning will resolve the matter.

We were conned - lets all admit that, and there is no help from the French goverment or the Europeans parilment - there is also no point, in my mind, of trying to get large groups of owners together to take them on - nothing will be done - you cannot get decisions from a committee of owners who all have different circumstances.

I am sorry to be so brutal, but with this Company it really is PUT UP OR SHUT UP!

I am a frustrated owner as you probably have guessed, but am prepared to take them on should it take 5 years, I would rather pay legal fees that pay them one cent of compensation

Well said.

While we may not all be in a position to take the long and costly legal route, we can and should make life difficult for Eurogroup.

Some organised strategy is required.

As suggested by a fellow co-owner, if a large number of owners serve a CDP on the first possible date after rent is due, EG would be required

to find a very large sum of money in order to comply with the CDPs.

The larger the number of owners, the more financial pressure on EG.

We are also at Fontenelles where there are a large number of unsatisfied owners. This is probably the case on all EG sites.

Our rent should be paid no later than 31 December each year. I am not sure if this means that a CDP can not be served until Jan 31.

Can anyone clarify this?..

Frenchleaseback.net can serve a CDP for the very affordable price of £50.

if any owners are interested, please pm/email me your site and date on which rent must be paid. I am happy to put a listing together to get an idea of what numbers we might have interested.

Yes you need to give them 30 days to pay after the 31st - then issue the CDP (must be by bailiff) - if they do not respond, within 30 days, then I would suggest you issue a conge - stating that you are terminating their lease on the basis of unpaid rent - if you have a history ie your bank records of simailar late payments all the better  - include this in the conge (which has to be in French, stating all the reasons, that you are terminating and delivered by a bailiff - I am afraid to say it but you would be better to instruct an avovat so that all French laws are adhered to - give them no "wriggle-room"! Can I also suggerst that owners should start a social media campaign leaving reviews and telling the world out there what is actually going on. Eurogroup have a new post everyday on Facebook - why not add a comment everyday - it will get their attention. There is also Tripadisor, TrustPilot and Zoover to name but a few. I for one am fed up with EG bullying and imtimidating me - its time to cause them some pain!

As a matter of interest, is there any stats on how successful orunsuccessful those whohave gone the legal route have been?

I refer to the Court of 2012 (highest court in France) who ruled against EG.

Surley precedent is nowset for those who have a similar contract (like us!) and the exhaustive legal route should not be required?

I know of 2 cases that were won agianst EG, on the basis that they had only a contract to manage not a bail commercial - I also know of two owners whose case will be heard in Sep, so that outcome will be interesting. I have served my conge for non renewal (about 1 month ago), no reaction from EG - they have been instructed to hand back the keys on after the 31st Dec - however I do not expect this to happen - I know of one situation where they were instructed to do so and the owner arrived with a bailiff but they still refused - this company seems to ignore any legal instructions and just continues to bully in the hope that we will copitulate. I intend to change my locks in Jan - EG will probably atempt to drill these out - at that point I will have to inform rthe local police and Marie of their actions and take them to court for an injuction on breaking an entering, if they do accept that they cannot enter my property (which is highly unlikely) they have 2 years to take me to court to seek compensation set by a judge - my attitude to this is - BRING IT ON!

I have now formed a group on Facebook entitled - Fontenelles Eurogroup Problems - pleae feel free to join this group and discuss the many and varied issues we all have - there is strength in numbers.

Well said Wineflair!

Please keep us updatedon the outcome of any legal proceedings - it may give us the courage to take the same route!

will do

We are on a different Eurogroup site and although thankfully we don't have the same management problems as you are experiencing at Fontenelles we do have the same issues around having to pay a premium to terminate a lease that we thought expired on completion of the 9 year period. We have used a solicitor and on their advice have served a notice and argued with their solicitor that they cannot extend their lease, particularly as the lease itself contains a clause which says that they will not attempt to extend it. Eurogroup responded with a demand for compensation that they worked out from a formula of something like one year of the annual average of the lettings income for the last 3 years which we have said they have no legal basis to demand. Our notice has to be challenged in court within 2 years and if they don't then they cannot challenge the termination of their lease thereafter. interestingly their lawyers have now asked us to make an offer. I noticed that one of the contributions to this forum suggested a long and costly legal process to terminating the lease and would say that in our experience it maybe a slow process but it's financially still worth doing.

Hi Arnoldbash. I'm in a similar position to yourself except havent gone the legal route yet but at this stage it seems the only sensible solution. Have sent you a PM. Thanks for posting.

The biggest problem we have is that - after serving a notice of non renewal MV still have the right to make use of your premises until a judge decides, if it gets to court - another problem is that even if you serve them with notice to quit, ie evict them they still have the right to make use of your premises until a judge decides who is in the right. For those of you wanting to get rid of the management company immediately, you may have to resort to breaking the law - by way of a hostile repossession - if you do this you need to ensure that your premises are secured and that the management conmpany will find it extremely difficult to break in - they will obvioulsy take you to court and seek compensation - really you are dammed if you do and dammed if you don't - my only object in this exercise is to get the buggers into court one way or another and let a judge hear the landlord's side of the story. - One thing that is very noticeable and I am sure you have all done extensive research - there are very few written judgements on cases involving MAdame Vacances / Eurogroup (yes we have all seen the two alreadt mentioned) but where are all the others? The lack of written judgements may suggest that these cases never get to court adn the MV/EG will settle at the doors of the court just in case they lose (and they really cannot afford to do this - they would have no one left!) - but guess what they will insist on a confidentiality agreement - divide and conquer again and again