I am considering purchasing a (resale) leaseback managed by Odalys. The development is called Le Jardin du Golfe and is situated at Plan de la Tour, near St Maxime on the Cote d'Azur. The lease commenced in 2003 and will expire in 2012. I visited the place yesterday and the agent told me that, when the lease expires, I would be free to do what I wanted with the property (i.e. lease with another agent, sell or have it entirely for my own use), with no financial penalty. I thought that there were penalties if a place was not used for holiday accommodation for 20 years, and mentioned this, but was told that the law has changed since 2003. Does anyone know anything about this or about Odalys generally? Or about this particular development? I have read some of the comments about Odalys on the forum and notice that there has been mention of cash-flow problems in the past.
Comments
ognip
plan de la tour
25 July 2010Had property transferred from Residhotel to Odalys late last year. They have since paid the expected amount on time every month. they are very well organised, easy to contact and are maiantaining the property very well.
king
plan de la tour
26 July 2010Thanks for the info ognip