General Discussion

Resale - how much would we actually get?

Forums:

We have just returned from a holiday in our leaseback apartment. The neighbouring apartment is up for sale for about 150K Euros. It is the same size and layout as ours. We paid 110K Euros about 6 years ago. There was a vat reduction of about 21K. If it was to sell at 150, what happens to the VAT discount we benefitted from, do we pay it back out of the sale, or does the buyer benefit from the VAT discount that is left (ie 14/20 * 21K) and that is taken from the 150K?

This is really confusing me - can anyone help?

Thank you
K

Income tax on the weeks i use?

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General Discussion

We have been paying income tax on our rental income from our leaseback apartment in the french alps. It has just dawned on me that i pay income tax on the value of the weeks that i use myself, and i own the apartment - why would i pay income tax on holidaying in an apartment i own? Does this sound right to anyone else?

Renewing leaseback

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General Discussion

Can somebody advise me please? we have a nine year

leaseback non guarantee rental scheme in the Vendee. The

lease stated very clearly that if we decided to withdraw

from the leaseback, the management company would not

require us to pay compensation. The management company

was bought by another company within the first nine years

of the lease. This new company now state that we must

compensate them if we do not renew our lease. The nine

years expires in December 2011. We would be interested in

OWNERS TAKING OVER MANAGEMENT?

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General Discussion

I have been viewing comments for a while but not participated until now. I am in a situation where the management company at our property says it will not renew the lease if we do not accept a substantial reduction in rent. I am wondering if any owners have actually got together and taken over the management of the property themselves? If so, what is involved and do you think it is worth it? Our property is on the outskirts of Paris so think it is a good location with a strong potential market.

The real property value of leaseback?

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General Discussion

I wanted to know if leaseback properties are artificially inflated because of the VAT reclaim? I’ve scouted various websites and it seems a freehold property generally seems cheaper by comparison?

Purchasing a leaseback - TVA?

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General Discussion

I have recently purchased a property that is currently on leaseback and the first 9 years is due to expire in September this year. I do not plan to sign another leaseback contract but wish to use myself and also rent privately. In this situation, who has to pay (if anyone) the TVA - the seller, the b uyer or a bit of both?

Thanks

Andy

Facebook Group

Forums:

General Discussion

Given the amount of complaints about leasebacks I suggest

that we start a Facebook group for lease back owners. The

advantage with Facebook is that it is free to use and it

searches very well in Google. I'm not sure how long our

complaints will be tolerated here given the forums

involvement with leaseback sales.

We have seen in recent weeks how Facebook groups have

been instrumental in getting the message across and

causing major headaches for companies and governments.

tourist tax

Forums:

General Discussion

Hi boys and girls,
A quick question. Are owners making use of their allocated weeks eligible to be charged taxe de sejour ?

Paul

French bank a/c required for mortgage?

Forums:

General Discussion

Hi,

We have both a current account and a mortgage with a

French bank. We're very dissatisfied with the bank in

question who seem to randomly make charges on our current

account and are very unresponsive when we have questions.

We're thinking of closing the current account and

directing the management company to pay our rent into a

non-French bank account.

However, we seem to remember being told when we were

buying our property that in order to have a French

mortgage, you had to maintain a French bank account.

Warning Tax Fonciere Entrerprises

Forums:

General Discussion

I am very fortunate to have some very good assistance in dealing with my leaseback matters and tend to keep most things close to my chest on my personal matters.

However if any of you receive a bill for the above, do not pay it without taking proper advice!

Most ex-leasebackers who rent privately (of which I am not one) are being asked to pay the above tax meaning that you operate your property rental as a individual business (enterprise). All seems fine you may think.

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