English
FrançaisOur lease with PV ends this September but instead of being offered a new lease agreement, we have been told we will receive an offer of a rental contract with Maeva.com. We have not received any details of this contract but I believe it may be similar to a contract with another letting agency. We will probably no longer receive guaranteed rents but will have some income if our appartment is let out. We will probably now have to pay seasonal maintenance, cleaning and utility costs which were previously covered by PV under the lease. There will also be a renovation cost.
Has anyone else experience of this kind of rental contract? Would be interested to hear how it works in reality.
Comments
hotsun
I dont have experince of
18 April 2017I dont have experince of whats happening to you, but, it may be an ill wind blowing you good. The deal you have described, seems terrible!!. Is it a ski resort, or beach resort?
Sorry if you are already aware of what I am about to say, but the fact that P&V dont want to renew the lease, means that you can get out of having to pay the indemnity , which would be 2 years P&V revenue from yr appartment!!
This is only of value if you wish to rent the apprtment out yourself, or sell it, but it is a considerable advantage, and an oportunity to earn money from yr apartment. We have done ecatly that, and its a nice little business for us, we are now in our 5th year, and we handle booking for 2 other p&v owners. All you need to do to make it work, is find someone in the rsort who can handle hand over, cleaning and laundry. And the whole resort relies on peopl like that, so they are not hard to find..
One of the questions I would want answered by P&V, is
" Does this new contract allow us to continue to escape the 20% vat on the purchase price for the first 20 years following the sale? In other words, does the new contract fall under the fiscakl rules of " Residence tourisme? If it doesnt , you will be liable to repay the french government the number of years Vat remaining out of 20 years on your appartment.
Best regards, ask agains, if this isnt clear
kodelig
Thanks for this and good to
18 April 2017Thanks for this and good to know all is going well for you too. Our residence is by the sea in Brittany. PV have indicated that they would not charge loss of indemnity but we need to see the new style contract to see what exactly they are offering. I think it may give owners more say over their own appartment. The 3 services would still be offered so the VAT repayment not necessary which would be a plus. The renovation cost is a concern. It is the unknowns which are the biggest concern until we know the exact situation. We will also explore how to rent out ourselves so we can compare but I suspect that will be more difficult if they are also offering a rental arrangement in the same small site and in a small town. If their offer is fair it might be the best route initially but these forums make one cynical.
llussier
I would be interested to know
21 April 2017I would be interested to know how this turns out for you and if it is only for PV owners.
TonyF
Spoke to a mortgage broker in
21 April 2017Spoke to a mortgage broker in France today who seemed to think that wehre this may occur for some properties it would be unlikely if you are an owner in a centreparcs development. However please correct me if someone knows better..?
kodelig
The outcome of the new
20 October 2018The outcome of the new contract with Maeva.com for the first year has been that rentals have gone down significantly for all owners but we do t know of this is just a bad first year or Maeva not being sufficiently proactive. The photos were not very good and the rotation of rentals seemed strange. Clients said they didn't get the choice they wanted, some owners found their appartments were not let out at all and some had many lets. Our rental did not cover the service charges but on the plus side we got more use of the appartment throughout the year.
We did not have to pay a renovation cost but our appartments had to pass muster to be rented out. In our case it was a matter of stocking up on missing kitchen utensils. So far we have not had to pay back the VAT but we are unsure if this is a honeymoon period as it is the first year since PV pulled out and apparently owners are given a year to find a new operator.
Owners in our residence are now looking to sign up with a new operator offering leaseback for 9 years.
we do not want to do this so are looking for alternatives to rent out and still not have to pay back the VAT. This may not be possible. We are still signed up with Maeva but unsure if we can continue with them once the new operator takes over. The new company says it might be able to offer us a similar rental arrangement to Maeva but we would have to pay back the VAT in this case which contradicts what Maeva told us.
Has anyone else experience of Maeva.com or similar? It is called a "mandat de Gestion" in French and it does offer the parahotel services and bill clients vat. The contract was accepted by our accountant.