French Tourism Code

Posted Leave a commentPosted in Lease, Legal

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 […]

Consumer Protection for French Leaseback Owners – RESPONSE

Posted 2 CommentsPosted in Lease, Legal, News

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 […]

Paul Devaux on Rent Reduction

Posted Leave a commentPosted in Lease

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 […]

Organise Owners in Residence du Tourisme

Posted Leave a commentPosted in Lease, Legal

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. […]

Leaseback Rules on 70% Changed

Posted 1 CommentPosted in Lease

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 […]