Fonserane development in Beziers

We bought a studio at Le Fonserane four years ago. 

We have had no problems with Village Center and have enjoyed using the Nomad Card.

Pull out now while you can is my advice.  The St. Clair  apartments were sold from 2008 onwards, I was delighted with the leaseback arrangement convinced that it was a good investment.  I was so so wrong.   First of all I lost lots of money on it.    The, myself and 81 other owners in the St. Clair were dropped in it by the Village Centre where they transferred the Management of our complex to MMV in July I as an owner I was not aware of this at all until MMV served notices to quit on many of the leases in the St. Clair and all hell broke loose.  this is a new building beside a thriving port with expensive yachts and one of the most popular resorts with the French themselves.   We are now having to cope with all sorts of problems frrom bad building work we were not originally informed about (which to be fair to Village Centre is not to do with them)and with the threat of having to pay back the VAT received as part of the Leaseback agreement if the lease is broken, even though we were not responsible for breaking the lease.    MMV want to cut the rent by 60% whichwould work out at about 200 euros a month which goes nowhere near the price we originally agreed.paid.  Also resale value of leasebacks I have since learned is much more difficult and harder to find buyers for and the chances of finding a buyer in the current market on a leaseback resale is virtually impossible.   Also Village Centre ran our complex very badly like a caravan park rather than an aparthotel which contributed largely to the situation we now find outselves in.  Yes the nomad cards are great, but it is all at a price.   Pull out as quick as you can is my advice.  If you do go ahead, get your own Solicitor to look over the lease documents, deed etc.  We were informed that we had a lease of 11 years, now it turns out that because it was pre 2009/2010 it can be terminated after 3 years.   Also all the owner are caught with a huge bill around the swimming pool area because this area was not covered under the builders guarantee.   I spent a long time researching where I would buy an apartment for investment purposes.  I too was delighted with my choice in the Village Centre having heard similar reports to yours and i have to say that as long as they were there they did pay regularly.   However, they are responsible for putting us into this nightmare and i would have nothing to do with them or any leaseback arrangement again.    If you do your research you will see that many many leaseback properties are in trouble.  Good luck

Correction MMV want to drop the rent by 40% not 60%