English
FrançaisHi,
What happens after the first leasing period if I don´t want to renew the leasing? If I want to sell or have the apartment for my own must I have a permission from the management company or the mayor to do that? Or can I decide myself that it should be a normal property and not a leaseback?
Best Rgds
Seamus,
Sorry to be a pain, as I have already bought direct from P&V (I hadn't found this forum), but I would appreciate your professional opinion. P&V told me, verbally, that they generally don't claim compensation for non-renewal after the first lease, although reserve the right to do so if lots of owners are looking to bail out and their (P&V) share of the building is dropping below the threshold they are looking for.
As a guide I was told that if you wanted to terminate a lease early, aside from the VAT implications, you could expect P&V to seek around a years rental payment in compensation.
Is this your experience? I am not in a hurry to break or terminate the lease, and see this as a long-term investment, but want to know what the contingency options are.
Thanks,
Mel
Seamus,
Thank's for the quick response. Certainly glad to hear that the P&V rep was being pretty straight. It will be interesting to see if the rise of UK leaseback owners, possibly with differing investment strategies to the traditional french buyer, will see a higher percentage of owners looking to break or not renew leases in the coming years thereby causing companies to be less sanguine about compensation. I guess much depends on whether the market keeps rising...
Mel