Lease

Commercial Lease – ‘Bail Commercial’

Posted on

The French Notaires website provides some information on the nature of a commercial lease as used in the purchase of French leaseback investment properties. The use of a commercial lease provides for particularly advantageous conditions for a tenant. Regarding the owner’s ability to recover their property it states: The commercial property does not deprive the […]

Lease

French Tourism Code

Posted on

The investment properties that were marketed at and sold to Irish buyers as leaseback properties with refund of TVA and a guaranteed rent under a commercial lease, are governed by the French Tourism Code. This can be found on the French government site Legifrance.gouv.fr. There have been updates to this code since many of us […]

Lease

Consumer Protection for French Leaseback Owners – RESPONSE

Posted on

European Consumer Centre The European Consumer Centre Ireland (ECC Ireland) was established as part of a European wide network to encourage consumer confidence within the EU. ECC Ireland advises citizens on their consumer rights while shopping in another European state. It aims to facilitate easy access to redress and if necessary, the EEC Network also offers […]

Financial

Financial Advice for Leaseback Owners

Posted on

Médiateur If you have issues with your French bank and are not getting a satisfactory response you can try the mediator, who is a kind of ‘in-bank’ ombudsman. If your bank has one, it should give you the name and contact details. Though in my experience they don’t like sharing the contact details! If that […]

Lease

EU Legal Advice for Owners Caught in French Leaseback

Posted on

Europe Legal Advisor Your Europe Legal Advice Service provides free advice on your rights within the European Union and can clarify European law that may apply to your case. For owners who bought French leaseback properties under unfair terms and who were misled about the nature of the investment, this may be a route to […]

News

Le Tour goes to Les Jardins de St Benoit!

Posted on

The Tour de France has arrived at Les Jardins de St Benoit for a stopover on the Carcassonne stage. There is great excitement on-site as the entourage rolls into town and they get out of the saddle.         Though one owner informs us that the operator of this leaseback Résidence du Tourisme, […]

Lease

French Senate Responds on Leaseback Difficulties

Posted on

The French Leaseback issue was raised in the French Senate,the second chamber of French parliament, in July 2014. See the response below (a google translate rough translation) from Ms Axelle Lemaire, Secretary of State to the Minister of Economy. Aware of this situation, in particular through your mobilization, senator, the Government has started at the […]

Lease

Paul Devaux on Rent Reduction

Posted on

There is a pattern of behaviour whereby operators of French leaseback properties pressure owners to sign a lease amendment taking a rent reduction. For me, it is too late. But for you, think about what this may mean. Are you effectively halving the value of your property ? By cutting the yield in half you […]

Lease

Organise Owners in Residence du Tourisme

Posted on

There is an umbrella group in France to represent owners groups from French Leaseback owners called Fédération Nationale des Propriétaires de Résidences de Tourisme. The group have been active in supporting owners organisations. The Association of Tourist homeowners was created by FNAPRT to house owners that have no association in the tourist residence where they own property. […]

Lease

Leaseback Rules on 70% Changed

Posted on

One of the restrictions with French Leaseback status on a site has been that the development must have at least 70% of the properties in a lease to retain the French government ‘leaseback status”. If my French serves me, it seems  that this has changed in Mar 2015 and has been reduced to 55%. However, there […]