considering buying in Auris en Oisans

Hi Jane,

It's a difficult question to answer as there is a lot of subjectivty in this topic .... Odalys is an organization which has survived some difficutl times in the past couple of years  when many

companies went bankrupt. It doesn' mean that you will be safe for the next 10 years with them. They are almost always late for the payment o rent and I don't think it's going to get better. The market is relatively saturated today and conditions are not going to get better. I woud be very caustious before signing with them or someone esle by the way.... If you really want to invest I would suggest you buy something ditrectly from the owner and manage the rental with  alocal company, using 1 year contrats which you can renew.

If you want to talk about it let me know by mail and we can hve a discusion,

Philippe

I think if you are planning to buy Odalys is probably as good a company as any. But certainly they are in arrears with their payments (to me and many others ) but you need to keep in mind that the French economy is in fairly dire straits at the moment. I am lucky in that we have quite a strong management committee for our development and talk to Odalys at a senior level. But this is the real weakness of the leaseback schemes-ie if there are 100 owners in 10 different countries you are going to have real problems in getting together and exerting any leverage. Which ever scheme it is the tenant will be in the driving seat and the French legal system moves at a leisurely pace.

<p>I own an Odalys property and there is a great deal of unhappiness about the way they do business. As others have mentioned, they always seem to pay their rent late and ignore telephone or email messages. Lots of properties on our site are up for sale but no one can find a buyer. If you don't leave your appartment absolutely spotlessly clean they charge 50 to 100 euros for a few minutes cleaning. Our service charges are double the original estimate. There is a huge amount of animosity towards them on account of their attitude. Remember also when calculating your rental income that you will have to deduct services charges, taxes and your tenant's heating and lighting costs. At the end of the lease period you may find them difficult to deal with if you decide not to renew your lease, and you should check how many months of the year you are able to occupy your property if you decide not to renew the lease. See some of the comments on Odalys Vacances facebook site.

Hi Jane,

like yourself I looked at this resort, but have read nothing good about odalys!! The properties looked really good and seemed really good value

Did you decide to buy else where? 

I was concerned about what would happen after 11 years

thanks 

luke

Odalys are a nightmare.

Dealing with them is stressful, downright impossible and infuriating.

They are also up for sale so I would not buy any property linked to them until that situation is resolved.