English
FrançaisLeaseback resales in the South of France
Forums:
hi new new member
Interested in resale leases in the Cannes,Nice,Sainte Maxime area, Have been told no VAT to pay
Regards
Swannie
General Discussion
Furniture Package
Forums:
I have just (18 Dec) taken delivery of an off plan leaseback apartment. Although the apartment itself is fine (a few areas arn't as in the Notive Descriptive so I think I have to tell the developer by registered letter within one month?), the furniture package isn't.
CGH
Forums:
I would be very interested to find out any information about CGH's actions towards/at the end of the lease. I own a leaseback apartment built by MGM, managed by CGH (their subsidiary). Recently the owners have been sent a request by CGH to fund the cost of new flat screen televisions for each of the apartments. The residences association has said "no" but we were quite astonished to have been asked in the first place as this is not our responsibility under the lease.
CGH Owner
Forums:
Just wanted to say hello. I own a leaseback purchased off plan from MGM in 2005 and managed by their management company CGH under an 11 year lease. I opted for rental up front as a discount on purchase price to avoid cash flow risks. So far I would say it has gone well, with the property well managed and after 5 years of use the apartment still looks like new. The management fees are quite steep but no more than I expected. I do have one big issue though - when I purchased the apartment I reserved a parking space in a separate parking building that was yet to be built.
Leaseback Insurance
Forums:
I have been asked by the developer to provide "non occupying owner insurance" when I take delivery of my leaseback property.
What exactly does this cover and can anyone recommend somewhere to purchase this?
100% Second Leaseback Mortgage
Forums:
I have one leaseback property and I am in the process of purchasing a second .
The mortgage for the 2nd property has taken 6 months to arrange and the deal always was that it would also be for 100% of the value. My broker now tells me I can only get 90% as I already have one French mortgage. He has taken 6 months to tell me this .
Is this true?
Is there any companys that are recommended?
End of lease - refurbishment costs
Forums:
Think about this.
You have a holiday apartment rented out for around 10 years. It'll take a bit of beating over this time. Furniture, kitchen, bathroom, general decoration will all need updating. As the freeholder you want to continue to rent it out, but you won't as the state its in after the 10 years makes it virtually impossible. Hence the tenant cancels the lease. So either you pay for refurbishment or sell it. The tenant has an advantage over you if you want to refurb as you can't get access to the apt. to do the refurb.
Help - My Leaseback has gone Bad!
Forums:
Hello all.
I am a new member of the Forum, and new to the wacky world of
Leaseback.
I purchased an apartment in a Best Western hotel, Bussy St
Georges (near Disneyland Paris).
After a lengthy and difficult purchase (it took over a year), I finally
completed the purchase in April 2009 and promptly discovered within a
few weeks that the management of the hotel had gone out of business.
The hotel closed, and I have not earned a penny in rental income since
French leaseback swindle : what to do ?
Forums:
A federation of all the french owners associations in direct contact and discussion with the government was created last year :
The web site is in french but they can answer in english to any question. They success in modifiying some parts of the law.
The first step being always to create an association or to get in close contact with french co owners. SOme Irish have done this with good results.
Vat Refund claims
Forums:
Im an owner of a leaseback in the Cote d zur and have not
yet filed for my Vat refund on the purchase price
I brought it in 2007 and have been told that there is a 2
year cut off on vat reclaim in france on leasehold
properties.
I Have an accountant who has been doing my tax returns in
Ireland for another French property but only tax return
in ireland and not France, Also I asked him to deal with
this some time ago
Im now going in the morning to another French Tax
specialist.
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