Losing 'Residences de tourisme' status?

Hi Lolly and Keith

I'm with Resitel too.

I am tempted to not accept their demands but obviously would like more information but the situation has just arisen and so am trying to understand .

Over the years I have been surprised at the amount of hidden costs involved.

There are extreme options to consider- perhaps default on the mortgage, lose the house and therefore the money so far invested but I am not sure how much power the French have in pursuing debts cross country. Otherwise it could be a case of throwing good money after bad but it needs careful thought over more time than they have offered.

I feel as though they are pressuring me into a hasty decision.

Feel free to contact me

Regards Bill

I'm with Resitel too, i have a place in Valloire. Has

anyone yet signed the new agreement ? I think we have

until the 6th April

I'm currently taking advise from a French lawyer who

specialises in this, His advise to me was not so sign

however make some concessions - below is some advise he

emailed me ..

" Nothing obliges you to accept the new terms and

conditions at all, but it might be worth making some

concessions, at least temporarily, to leave Resitel a

chance to recover. It would be a good idea for example to

try negotiate a new rent that includes a fixed element

and a variable one that depends on the company's annual

income. This would obviously mean that if Resitel resumes

with profits again, you too will benefit of the situation

instead of being locked indefinitely with a lowered rent.

"

I will be speaking to the lawyer 2morrow to find out how

this is possible.

Personally i think we may need to sign, the only other

options i see is that

1. Resitel go into administration and we are liable to

pay the TAX. If this happens are we then able to sell the

property as a private residence ?

2. Another management company take over and we may have

to sign an agreement which make us worse off ?

I believe by defaulting on the mortgage the Bank will

still hold you liable for any outstanding amount -

perhaps i might ask my french lawyer about this 2morrow

Would be good to get a list of names that are part of the syndicate - does anyone know how to get this ?

Glad i came across this forum, perhaps together we can

get through this. Be interested to find out where your

properties are ?

Regards

Raj

Hi Keith

I came across this site

http://www.legavox.fr/forum/immobilier/loyers-impayes-

residence-tourisme-lagrange_37674_1.htm

The following site is some sort of action group where

owners are asked to register their details

https://sites.google.com/site/gestionnairelagrange/demarc

hes

Not spoken to my lawyer yet, He asked me to call him

today but he seems to be out of the office (not a

national holiday in France)

I haven't signed the new agreement so i guess i'll miss

the deadline on 6th April. Does anyone know what that

means ie is this a hard and fast deadline ?

Hi All

We have a lease back with Resitel too - Residence Cybele in Brides les Bains in the 3 Vallees. Like you we have been sent a new lease to sign by 6 April but we haven't signed it yet and plan to take legal advice.
As well as offering us a lower rent, I have noticed that they have also changed the property charges. In our original lease we paid 50% of them and Resital paid 50% but in the new lease we pay 100% of the charges.
So a double whammy of less rent and double the charges. A drop of about 30%. This will no longer cover our French mortgage payments so not happy.

As far as I can work out. Resital need 70% of owners in a particular residence to agree to the new terms - otherwise the residence de Tourism status will be lost. This would mean that either a new management company would be needed to take it over and maintain the residence de tourism. If the Residence de Tourism is lost than i think we may have to pay the VAT ( pro rated on how many of the 19 years have elasped).

Resital have told me that if we don't accept the new contract that the Judicial Administrator can cancel our lease and we will have to pay the VAT. If they do get 70% of owners to agree but we don't then we could self manage the apartment as the Residnce will stay open but will have to pay the VAT.

We have heard that Resitel has a lot of properties in the Pyrenees which have suffered bad debts which has , in turn, effected of of their accounts - our property is in the Alps and still seems to be busy.

Keith - please let us know what your French lawyer says. I really want to know whether the new rental is really guaranteed under the safeguard plan - or could we lose this rent as well.
I have also emailed the law firm Cordiez solicitors which is the one on Lolly's link.

If anyone else has a property in Cybele in Brides then please contact me. So far we know one other owner who by coincidence is a work colleague of my husbands. According to the floor plan there are 132 apartments.

Hi Keith

I'm also in the aureilhan development but have been away and have just received documents, so have obviously missed the deadline. I'm waiting to catch up with my advisor but agree that accepting the amended terms maybe the "least worst" course of action given the difficulties in taking any action as a group of owners at such short notice.

Mark