General Discussion

Increasing nr. of high season weeks

9 February 2017
Forums: 
General Discussion

Just wondering whether other complexes have had this happen.

Over the last few years, our management company have been decreasing the number of low season weeks on the calendar and replacing them with high season weeks making it more difficult and more expensive. This seems to be a way of screwing us without affecting the contract. There is of course no mention in the contract of how many low season weeks should be in the contract.

Anything we can do about it?

AGENTS FEES FOR SELLING PROPERTIES

2 February 2017
Forums: 
General Discussion

I know that French estate agents charge up to 10% (plus VAT) of the sales prices -and there are other fees.

But I'm hearing that it is common practice for agents to insist on a minimum fee. I asked a couple of my fellow owners if they had been charged a minimum fee and two of them produced correspondence from Sextant properties which showed "minimum fee €10.000 plus 20%  VAT".   Considering these owners are trying to sell small apartments for ca. €40.000 a sales commission of €12.000 seems outrageous.

Can anyone confirm if this is the norm?

Irish/UK Petition to EU

3 January 2017
Forums: 
General Discussion

Hi,

a previous member linked to the French petition set up (I think) by the FNAPRT.

However, I think we need our own petition to represent us and have set one up.

I'm calling on the EU to address the issues with these leases and due to the mis-selling involved, to remove the requirement for reclaim of VAT and remove any requirement to pay eviction compensation - at a minimum. I am also calling on the Irish financial regulator to involve itself in the sale of these 'investments'.

Taxes Foncieres

13 December 2016
Forums: 
General Discussion

What is the practical result for a non-resident owner who fails to pay the Taxes Fonciere in the situation where legal action alleging fraud/mis-selling is underway (but tediously slow); the owner has absolutely no interest in retaining long term ownership of the property after all that has gone on etc. ?. 

petition

25 November 2016
Forums: 
General Discussion

This is the link for the petition, they need 800 more signatures, so send it to anyone sympathetic.

 

 

Hello,

I just signed the petition, "gouvernement: Contre les investissements toxiques en résidences gérées et résidences de tourisme."

I think this is important. Will you sign it too?

Here's the link:

petition

25 November 2016
Forums: 
General Discussion

Hi, I just thought I would let everyone know that there is a petition on Chris McKay's facebook page, set up by the French group of leaseback and toxic properties owners.

There was also a very good article by Cian Molloy on one unfortunate leaseback owner and the dangers of these properties, from the Sunday Times, 20th of Nov.

Chris is booking his full 15 weeks allowance, I will do the same. Everyone should do this and maybe after 1 year of this we may be free.

Patricia

 

Press - Sunday Times

22 November 2016
Forums: 
General Discussion

Hi,

for those of you who have the Irish edition of the Sunday Times from 20.11.2016, there is an article on leasebacks and the perils of buying one by journalist  Cian Molloy which you may be interested in.

It is on page 10 of the Move supplement.

The online version is behind a paywall.

Life after Leaseback

1 November 2016
Forums: 
General Discussion

My father and I co-own an apartment within a CGH residence in Champagny. Our leaseback contract will be expiring shortly, and we're keen to explore options.

We're pretty new to the leaseback game (property purchased through auction mid-lease), so I was hoping someone could shed some light on a few questions we had:

- Are there any penalties for NOT renewing a leaseback contract?

- How much notice should be given?

- Which ongoing fees are still applicable?

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