Pierre Vacances

Hi,
Well, we are into our 2nd year with our leaseback with Village-Center who are apparantly the second biggest player in France (their quote not mine). All rents have been paid on time, with just minor problems steming from the way the properties were marketed through various selling agents like VEF (uk) and the such like who flowered up what was on offer such as free internet and etc.

The returns are not bad (4% with 4 weeks usage).....

Overall, very happy.....

PP501

We have 3 with P&V - my only regret is buying 3 others that aren't with them!

Slightly lower returns, yes, but they are all quality properties in quality areas & we always get paid on time.

Very happy with them.

We too have had an appartment with PV for 3 years and have been happy so far - rents paid on time. Some small niggles with exchange bookings as you can only exchange with what they offer not with all the PV properties and sometimes have to make do with a smaller appartment than our own in a similarly priced area.

So I guess you haven't received yet the P&V bill for refurbishment

Every decade they refurbish their residences and I have a friend who had to paid last year a bill of 18,000 euros

Leasebacks are sold on the premise that they are freehold (to distinguish them from timeshare). Surely this goes against the principle of freehold where your tenant decides how they will redecorate and how much they will spend and then hit you with the bill.