General Discussion

Cancellation leaseback contact after 3yr

17 February 2009

Hoping someone has information that can help regarding cancellation of

leaseback contact by the management company.

The contact was for 9 yrs but renewable every 3 yrs.The management

company has decided not to renew after the first 3 years and has given

the owners 6 months notice to quit.

The information I have gathered to hand is

1/Vat is to be repaided pro rata if new management company is not

found within 1 year.

2/The same situation applies re vat if the apartments are changed to

'classic' and rented out

Do I really need a Management Company?

12 February 2009

For the sake of argument, let's say I have no joy getting my rent from the current management company and the lease is broken. Other than selling, the options are to run the property myself or find another management company. Do I need a management company and a lease to retain the property's leaseback status? Or, do I just need to demonstrate that the property is being rented to keep my VAT refund?

What is the Notair's role?

4 February 2009

When i bought my leasebacks,regretably i didn't use an English/French independant solicitor!Because if i did i could easily sue him for the omissions in the contract.

1)Possible penalties for exiting the lease at the end of the 9-11 years

2)3,6,9 year break clauses that tennant can exercise with 6 monhs notice.

Interestingly people that did use an independant solicitor also wern't told of these clauses!So they could easily sue!

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