If you do not give the management company notice that you do not wish to continue the lease then it automatically continues for another 9 years. You should give 1 year's notice bt regsitered mail or use the services of a bailiff to deliver the letter.
yes - of course nobody selling any of these 'investment' properties tell anyone that!
I think you need to use a bailiff (local bailiff) to notify the operator that you are not 'renewing' the lease and this can be some time before the end of the lease.
I was told that after 9 years the contract automatically continued year by year for the management company but that if we pulled out we must pay compensation to them.
Has somebody discovered that we don't need to pay compensation after 9 years. In my contract it stated that after 9 years they would not seek compensation but Eurogroup maintain that this is not legal and therefore not valid. They can tell us anything and we don't know if it is the case; however, a lawyer told me that a specific procedure that had to be followed if one wanted to leave the leaseback and that it was important to have legal advice and help to do this.
I was told by my management company that they were pulling out at the end of the 9 years in June 2016 so I though that would be the end of them . Unfortunatley they decide to get rid of about 25% of all the trouble makers and keep the other 75% of us and unfortunately I am one of them and them now tell me it is for another 9 years . So they did not ask me do I want to stay or leave in June 2016 ......they decided themselves that they wanted to stay despite the fact that I have papers from the selling agents that I could "walk away" from the place after 9 years if I wanted to .....it is a disgrace !!! and to think that we the innocent idiots have to pay them a FINE to get out of the bloody thing !!! So it seems it does just roll over and we cannot get out of it .
I am in the same situation as you - no guaranteed rent.
Thanks very much for posting this information, I think it is worth exploring.
I was thinking of contacting other owners listed on the forum and trying to encourage them to become involved now that in many cases the 9 years are up.
I think some have tried to deal with this in the past and have just given up.
English
Français
If you do not give the management company notice that you do not wish to continue the lease then it automatically continues for another 9 years. You should give 1 year's notice bt regsitered mail or use the services of a bailiff to deliver the letter.
yes - of course nobody selling any of these 'investment' properties tell anyone that!
I think you need to use a bailiff (local bailiff) to notify the operator that you are not 'renewing' the lease and this can be some time before the end of the lease.
I was told that after 9 years the contract automatically continued year by year for the management company but that if we pulled out we must pay compensation to them.
Has somebody discovered that we don't need to pay compensation after 9 years. In my contract it stated that after 9 years they would not seek compensation but Eurogroup maintain that this is not legal and therefore not valid. They can tell us anything and we don't know if it is the case; however, a lawyer told me that a specific procedure that had to be followed if one wanted to leave the leaseback and that it was important to have legal advice and help to do this.
Patricia
Hi
I was told by my management company that they were pulling out at the end of the 9 years in June 2016 so I though that would be the end of them . Unfortunatley they decide to get rid of about 25% of all the trouble makers and keep the other 75% of us and unfortunately I am one of them and them now tell me it is for another 9 years . So they did not ask me do I want to stay or leave in June 2016 ......they decided themselves that they wanted to stay despite the fact that I have papers from the selling agents that I could "walk away" from the place after 9 years if I wanted to .....it is a disgrace !!! and to think that we the innocent idiots have to pay them a FINE to get out of the bloody thing !!! So it seems it does just roll over and we cannot get out of it .
Any owners not on guaranteed rental ie. % based may in fact not have a commercial lease but a management contract "Contrat de Gestion"
check out this ruling by the highest court in France in 2011:
https://www.legifrance.gouv.fr/affichJuriJudi.do?idTexte=JURITEXT000023610653 If anyone has good French and can translate to English, please post a summary!
Any feedback on this greatly appreciated.
Hi Cath W,
I am in the same situation as you - no guaranteed rent.
Thanks very much for posting this information, I think it is worth exploring.
I was thinking of contacting other owners listed on the forum and trying to encourage them to become involved now that in many cases the 9 years are up.
I think some have tried to deal with this in the past and have just given up.
Patricia