Hi all
we had problems last year and lost some of our rental payment. We have been
offered extra usage to the end of our lease as compensation. Are we liable for
VAT payments on this? The usage is instead of rental payment so I am guessing
we are.
Also can someone clarify - if we have a mortgage and other costs, does this then
get offset against our VAT payment?
thanks!
Hi all,
We are still waiting for our rentals to be paid for our appartment in the west coast.
The management company told us that they had "cash flow problems" and that the payment will be delayed.....It's been now 6 months that we are waiting for our money to be paid...
Hi All,
I bought an off plan leaseback in Normandy in 2010. Unforunately the builder has gone bust and the leasback company with it. This after having drawn down 80% of my mortgage but completing none of the building works. So I have been left with a mortgage effectively on a plot of land with no sight of any rental income. I am seriously considering not paying the mortgage but am worried as do have property assts in the Uk. Has anyone else simply stopped paying the mortgage and have they been legally chased?
Thanks
Paul
Hi All,
just wondering if there are any of you out there that have had a pretty much hassle free time with your leaseback? We have had our share of hassle with ours, and this forum for the last while seems to have post after post of management companies not paying rent, going bust etc.
It would be nice to hear that someone is doing ok with their leaseback to give us all hope.
Mags
I HAVE A LEASEBACK 50 / 50 WITH A COLLEAGUE. THE COMPANY THAT PAYS US HAS NOT DONE SO FOR APRIL AND WE HAVE RECEIVED EMAILS SAYING THEY HAVE FINANCIAL PROBLEMS. DOES ANYONE KNOW WHO WE CAN CONTACT TO SEE WHERE WE STAND LEGALLY ON THIS ? THE PROPERTY IS UP FOR SALE BUT POTENTIAL BUYERS ARE PUT OFF BY THE LEASEBACK. COULD WE SELL THE PROPERTY AS 'VACANT POSSESSION' IF THE COMPANY HAVE DEFAULTED ON THEIR PAYMENTS TO US ?
With the recent mini-collapse of the Euro it looks like a good time to pay off at least some of the outstanding mortgage. I though it would be reasonably easy as it was with my Uk mortgage but the French mortgage company requires a certificate to identify the origin of the funds. It is unclear as to what exactly they require. They mention 'attestation de votre banque(rachat de pret), attesttation de notariee etc. What exactly do they need to see? would a bank statement from my UK account or photocopy of my savings account be enoug ?
This forum clearly demonstates that there are multiple developments that have had management companies default and new management companies taking over offering a much lessor rate of rental. Our group of owners are keen to bring this to the attention of the MEP's for possible support in this. Already the French government is looking at leaseback problems, as many owners are indeed French
Please respond via this forum and I will send you a copy of the letter to send
I am very much hoping someone can advise me.
For the first time I have been told by my French accountants that I need to pay VAT on my rentals receipts. Apparently in the early years of ownership the VAT liability (I didn't even know i would have one on the rentals) was offset by the various charges, particularly notary fees. As these have now been exhausted I will have to pay a certain amount of VAT going forward. Is this correct please?
Evening lovely people. I could really do with your help on this one.
I've been receiving rent from the management company of my two leaseback apartments for the last three years which has always been on time.
After calling an emergency meeting in France a couple of weeks ago, they informed all owners that they will be halving the rent paid to everyone because the resort isn't proving profitable.
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