General Discussion

French Tax Guide/Resources

1 January 2019
Forums: 
General Discussion

I was wondering if there are any good resources to understanding the French tax system and how it applies to leaseback property.

I know that this is a potentially big topic to get one's head around but I realise that, despite owning a leaseback for over a decade, I know close to zero about how my taxes are calculated.  And instead have been relying far too much on my accountants who are happy to charge me but don't seem interested in advising and informing me about my investment.

The reason this has come to mind now is a comment included in my welcome email to this site:

Center Parcs Domain Des Trois Forêts

1 January 2019
Forums: 
General Discussion

[This is a cross post from the Center Parcs Domain Des Trois Forêts board.  Posting here as I'm not sure anybody will read it there]

Hi,

I'm new here and own a leaseback in Center Parcs Domain Des Trois Forêts.

My first observation is that there are no posts in the dedicated forum.  Is that because there are no other owners on this site?  Or it because people just post and read the General Discussion board?

Selling

30 December 2018
Forums: 
General Discussion

Hello,

Can i ask what may be a stupid question. At what stage can a sale/leaseback property be sold as a freehold , not a touristic apartment.

I am 10 yearts in and lease is up for renewal . I have not signed anything yet. I would like to offload if possible.

Regards,

Sean

 

 

Liquidation of leases

20 October 2018
Forums: 
General Discussion

Hi, Id welcome advice on an evolving situation.

I am in year 8 of a 9 year lease on a Tourism Residence with 90 lots managed by Eurogroup. I was considering giving notice and paying the eviction fee as payments are always late and Eurogroup have history of offering significant reductions on second term rents and I could make more income and control my apartment, if it went to classic ownership.

Lease Renewal

3 October 2018
Forums: 
General Discussion

I have just received a pdf from Lagrange/SMAS Tourisme re renewing my lease, with amendments.  One of which is as follows:

Dans l’article 5 – Loyer, alinéa 5.1 – Loyer en numéraire – C- Révision du loyer : il est prévu une indexation du loyer en numéraire basée sur l’indice INSEE du coût de la construction, les parties conviennent de remplacer cet indice de référence, par l’Indice sur les Loyers Commerciaux (ILC) plus adapté aux baux commerciaux.

Le mode de calcul pour l’application de l’indexation triennale fixé dans le bail initial sera conservé.

Nemea Leaseback- Les nevez Les Contamines

1 October 2018
Forums: 
General Discussion

Considering my exit strategy. I'm in the second lease period which expires 2023 . At that point 18 years will have expired with my mortgage clear at 20 years.. Like others the quandry I find is whether to take out of the leaseback scheme - I believe in this situation I may/ will be responsible for potential break payment to Nemea depending upon the contract/ Grench commerical law? Failing that sell with leaseback in place and price will be forced down by yield calculation but I'll not have to repay any TVA. I sense I need to get a lawyer to review. Any recommendations?   

cordiez's picture

French leaseback schemes under investigation

19 September 2018
Forums: 
General Discussion

Following growing pressure from the EU, DGCCRF - the French Anti-Fraud Department - carried out some investigations whose results were published in April least year.

DGCCRF investigators reviewed the selling arguments displayed on websites and marketers and, in a second stage, considered the issues encountered by leaseback owners. To this end, the investigators visited 20 leaseback resorts; they also gathered the views of leaseback owners-investors.

cordiez's picture

Lease Cancellation - General Considerations

19 September 2018
Forums: 
General Discussion

Some leaseback owners are finding themselves in a situation where the lease comes up to its term and, having repeatedly had to face late rents and lack of communication from the French leaseback company, they are considering non renewal. 

Many of these are aware of the potential eviction fee, but are unsure as to how much advance notice is to be given, how the break notice should be served and how much the leaseback company is likely to claim. 

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