Notice from Lessee To Vacate - Le Britania

What Leaseback development are you with ?

Got the same last year.

No problem.  Either find another management company similar to P&V and lease as before, or do what I did and manage it yourself through Airbnb and similar sites.  You need to engage a property management company to manage comings and goings and provide three of four requirements from the French tax point of view.

Once you stick to the Tourisme Residence guidelines, you do not need to pay back the vat.

My advice to you, is to get an English speaking Lawyer, fluent in French Law before you sign any new rental contract in France. 

You are actually lucky - no indemnity to pay and an apartment in a great resort. Manage it yourself. You need to use a person who is a registered french company. I recommend http://www.extremeskiservices.com/ - I also have an apartment in la Tania (residence Saboia).

Good luck

We got out of our lease 4 years ago, and we havent looked back. No indeminity ( 80k in our case), find somone to do the cleaning and key handover, as long as the condtions of the residence tourisme are respected, cleaning, somone in resort to do key handover, etc etc, then there is no vat to pay back, and you can make money from it. Rent on abritel, owners direct, booking.com, or similar. there may be french social charges to pay if u are a uk resident, but the way we run ours ( we live in france), is under something called LMNP, Location Meuble, non professional.

You will need a  french accountant, but his fees will be deducted from any profit you declare, as will any purchases/expenses on the appartment ( trips to visit the apartemnt, once, twice, or even three times a year, all transport costs, tolls, car parking, hire car, etc, even meals while you are working on yr apartment, or having meetings with clients, agents, owners meeting etx, all these are deductible from your profits, which is what u will pay tax and social charges ( oh, yes and any loan on the building,. Plus losses can be carried forward for 5 years I believe..

PS, I havent found a way to add a lift pass as a justifiable expense yet!!

LMNP is the "leaseback" tax activity. The activity does not change (it was LMNP before) because you offer 3 of the "leaseback" services. So your tax return is the same. The main change is that you msut charge VAT with the rent and declare the VAT in the tax return - you get a refund if the VAT paid on "expenses" is greater than the VAT on rent otherwise you pay the difference.

Seamus

Despite all the horror stories, it appears if you were lucky enough to have your management company walk away at the end of the inital lease, leaseback may prove to be a decent investment after all.

PV terminated our lease as well in Brittany but gave us the option to sign up with their sister company Maeva.com for a one year "mandat de gestion" which we can terminate with 3 months notice at any time. It did not work so well the first year as Maeva did not get the clientele PV had had before so many other owners decided to get together and find a new operating company, Lagrange, who offered another 9 year lease. We did not sign up to this lease and continue with Maeva but as private owners rather than a consortium of owners. Maeva found us more rents last year and we have also had more private usage in the low season which we could not do before so this suits us. 10 other owners opted to keep to this arrangement. The remaining 40 approx signed the lease with Lagrange. Lagrange are also the new management company for the residence as Sogire had to stop.

Wepay all the charges but the owners with leases have their charges paid as with PV.Under new management, who now operate for longer periods we are concerned that these may increase.

We have not had to pay back the VAT. We have stuck with the  French accountant we used with PV.

We have not  informed the local Mairie that we are now renting with Maeva . Should do this? The system hasn't changed. Don't want to rock the boat!

Maeva do all the things PV did: keys, inventory, sheets, towels, cleaning although not breakfast. PV only offered croissants /bread available to collect from reception.

Does anyone else have this Maeva.com experience?

You do not have to inform the local mayor. You should only ensure that your tax activity is correct. So it looks like Maeva is providing at least 3 of the required leaseback services. The 2 other requirements are that you charge TVA on rent and that your tax activity has changed from LMNP to para hotelier. Has this been done?

Hi Seamus, our last French accountant changed to para hotelier activity after Maeva.com took over the rentals.

We are switching to your company for the accountancy from this year 23/24 so trust that will still be accept.

Yes of course. "Para hoteliere" is handled on our system