Managing a leaseback property after termination by Eurogroup

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Managing a leaseback property after termination by Eurogroup

Hi, I have received a termination request from EG for my apartment at the Hotel Ibiza Les Deux Alpes - Can you please advise how you managed your apartment after the termination? Did EG request any money to access shared resources at your complex? The Hotel Ibiza has a swimming pool, gym, reception, restaurant, bar, games room. EG will still manage the hotel the hotel for the majority of the leaseback apartments but would they try to charge me or my guests access to these resources? I receive no response to any request I send to EG plus they also owe my six months rent....

Does any rent/ manage their apartment in Les Deux Alpes - who would you recommend to manage or sell your apartment in this area?

Hi Nicholas, 

It could be complex depending on: 

- The Co - ownership rules or condominium rules you could find out there, if you will be able to access the common area as you want. 

- Confirm the reason of the Lease termination by Eurogroup. You need to make sure they are not saying, it is a mutual agreement to avoid legal complication. 

- VAT clawback, when did you purchase the property and recovered the VAT. If it was less than 20 years ago, you may have to pay some VAT back. 

- You still need to recover the rent of course, so you may start the legal process with Commandement de payer delivered by Bailiff. 

- You will need to find a management company to take on the management either with lease or mandate, you could potentially find a local agency to do this as you are in a ski resort. 

There are different conditions and possible issues you could have depending on the above. 

Regards,

Eddy

 

Hi, I have owned the apartment for 14 years and the termination came out of the blue - I have sent back a signed copy of the new lease after I received the termination letter. But I have not received any response to any email I have sent to any of the contacts at Eurogroup so I am completely in the dark as to what will happen with access to my apartment at the end of March. 

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