31 Octobre 2006 by Mudds

Beaumarchais

Hi, Has anyone bought a leaseback at Pantin, Paris. We've bought a one-bed apartment, which we are very pleased with, and would be interested in sharing experiences with other purchasers.

The Mudds

Commentaires

Jims

4 Janvier 2008

Hi,


I've not been able to get in touch with Jerome Coste via any method, I've sent emails, FAX and phoned today only I can't speak French so did not get put through so not able to make any judgement. Does anyone have the skills in making proper sense of latest letter? What does it mean and this time last year I had the rent in my account by today but not this year. Has anyone received rent? I signed the last page of the latest letter and faxed it to Suites Etudes. From looking at it again I take it they want both copies signing and posting back? Any further comments appreciated.


We visited once to stay in June 2006 but had a bad experience having a very minor traffic mishap outside which then put my family off the area as the guy was going mad after I'd knocked off his door mirror by accident and because we could not understand each other caused a major problem. We did not know it was student accomodation either when we got there so they wouldn't stay. The key was ready though. At the time communication by email with contact in Paris was ok also but not been since.

Mudds

25 Juillet 2010

UPDATE


Some owners have not received payment of rent for Q1 (due April). An Association is in the process of being created with a view to taking legal action against Suites Etudes. If you own an apartment/studio at this complex and are not in touch with any other owners, please post a message and you will be contacted via this site initially.


Also, if there are any other owners out there under the Suites Etudes/Equalliance/Oceanis group, please make contact if you are also having problems with this group.


Mudds40384.4560185185

Mudds

21 Février 2008

Several owners are now receiving advice from an avocat concerning the lease amendments at Le Beaumarchais, please make contact through this forum if you want to know more.

Duke

31 Janvier 2008

I've thought about it but my French is basic and I'm not convinced I could keep up so it might be a wasted trip.

I have received a set of accounts and a "pouvoir" request from Suites Etudes which I want to go over to see exactly what completing it would give them.

Certainly don't want to accidentally agree to any lease changes or additional maintenance charges!

Mudds

30 Janvier 2008

The Assembelee Generale des coproprietaires" is scheduled for 20 February at 10.00 am. Anyone plan to go?

Duke

23 Janvier 2008

Re Suites Etudes proposed revisions to owners' leases on rental increases and additional Serenity maintenance charges:

It has become apparent that Suites Etudes are now making improved offers to certain owners.

It may prove beneficial to owners to contact us via this Forum to find out the latest developments.

Duke

11 Janvier 2008

I can confirm receipt of last quarter's rent from Suites Etudes.


Everybody else got theirs?

Duke

5 Janvier 2008

I agree with the comments above from the Mudds.

If you sign up to the Suites Etudes amendments to your lease and their additional maintenance charges you are signing away your rights to the investment returns agreed in your original contract and permanently accepting an inferior return plus additional costs for the future.

My rent for the last quarter arrived on the 12th October so I would advise you not to worry at this point and not to agree to Suites Etudes proposals.

Mudds

4 Janvier 2008

Signing the original document you received means you are agreeing to have your rent capped at 4.5% every 3 years for the remainder of the current 9 year lease and allowing this to be continued in any future lease. Additionally, you are agreeing to extra charges being imposed of approx 20 Euros/sq metre/habitable area (these are extra charges, not a replacement for syndicate charges) and allowing these charges to increase at the rate of inflation every year. You are also agreeing to not discuss these amendments with anyone!!!


Several owners are now in touch with each other and none of us have signed anything. We are taking further advice.


Suites Etudes do not seem to respond to any communication by fax or e-mail. The only way we have been able to get them to respond in the past is by sending mail by "Airsure". As far as phoning is concerned, they speak very good English when it suits them!


The rent is not due until the middle of the month. No doubt they may delay it in the hope that it forces owners to sign. But best not to panic just yet.


Jims

8 Janvier 2007

Hi,


We have bought into this development but did not know it would be Student accomodation.


Can you tell me why you are very pleased?

Kerrjw

28 Décembre 2007


Hi, There are a group of us trying to figure out what is in our best interests - my advice to any other owners who drop in on this forum is DON'T sign until you/we have had a chance to look into it further.

Duke

27 Décembre 2007

I got a reminder from Suites Etudes today requesting that I sign the new lease and "Serenity" extra maintenance charges.

Looks like a standard letter sent to all owners.

Has anybody else got one?

Derrick

kroberts

27 Décembre 2007

HI


we too own a flat at Beaumarchais & are concerned at the lease changes. We've stuck our heads in the sand so far & not returned the documents but today received a reminder so thought I would have a look & see if I could find anyone else in same boat...


Think I would be ok with the cap on the rental increase but the new maintenance fees seem very steep.


I have heard of French management companies going bust so maybe they do have problems or as you say maybe they are trying it on. Really dont have enough experience of these things to know.


Haven't stayed there as the process of booking seemed to be so disorganised - or was that just my limited French??!! - rules seemed to vary depending on whom you spoke to - I could imagine turning up & there being no record of the booking.


Has anyone actually signed the new contract???


Thanks for all the input so far - nice to know there are others out there.

Mudds

29 Novembre 2007

James


A few of us are in receipt of the correspondence and are discussing what action to take. We are also in contact with a French avocat over the matter. We have sent you a private message with our e-mail address so that you can get in direct contact with us.


It's interesting that you are having problems booking your weeks. I know the correct procedure is to send a letter requesting the weeks you want by registered post. To stay next week you would have had to have sent the request before the end of August.


This management company has undergone some restructuring over the past 12 months. Look at the site for Equalliance Group for more information.


If any other Beaumarchais owners look at this site, please post a message so that we can make contact with you.


Beaumarchais is in an excellent location. If this management company can't make Beaumarchais viable, then they're incapable of making anything viable.


Mudds



Kerrjw

29 Novembre 2007

Hi,


We bought into this development also - and have stayed a couple of times. Like most other folk we were a bit surprised when it turned into student accomodation but the area seems to be improving and the stay has been fine. Getting in touch with the management company to make arrangements has been hit and miss and is a problem at the moment - we want to stay next week and get no reply to any e-mails. Anyone else had problems? They don't bother writing any more to confirm bookings.


Of more concern is the letter that we have received. The management company want not only to cap the rent increase - but to charge us 20 euros per square metre for repairs - the apartments are supposed to be kept in good repair under the lease. My view is that this should not be signed until they make a better effort to explain to their owners. I'm not convinced they aren't just trying to pull a fast one on us and get us to pay for things that should come out of their budget and not ours as members of the co-prop that owns the actual building. I for one won't be signing until after the next annual meeting in the spring which I plan to attend. Until the letter I had no plans to go but I'm just not sure how good a job they are doing.


Nice to know there is someone else out there...if anyone else is lurking please take the two minutes required to register and put in your thoughts - this seems to be the only forum on the property - it is all our money and I for one want it to work for me!


Long term it is a sound investment at the price we paid.


James

Mudds

6 Novembre 2007

Just received a letter from the management company asking us to sign an agreement capping the rental increases to 4.5% every 3 years. Anyone else received this letter and, if so, what are your views?


Mudds

Mudds

3 Septembre 2007

Anyone visited Le Beaumarchais recently? We went in August. The caretaker wasn't expecting us, apparently LA SIT had not informed him of our reservation, but fortunately he had a vacant apartment which he very quickly cleaned and prepared for us. Mr Zeroc, the caretaker, is very helpful but doesn't speak very good English and my French leaves much to be desired! Looks like they are having a marketing campaign at the moment, they had two open days whilst we were there. They are also advertising long and short stays. Quite a lot of the apartments seemed to be occupied. The one we stayed in was starting to show signs of wear and tear and the kitchen cupboard was starting to come off the wall. There's quite a lot of development in the Pantin area, the road has been improved outside Le Beaumarchais with mature trees being planted in the middle of the road and cycle pathways are now in place.


Ann/Paul

Mudds

25 Février 2007

Hi, has anyone been to Beaumarchais recently and is anyone out there planning to go to the AGM in March?


The Mudds

Mudds

9 Janvier 2007

Hi


We were also a little taken aback when we found out it was student accommodation. However, the students that seem to be occupying Beaumarchais are certainly not your typical British student! We spent a week there at the end of August last year and it was very peaceful, although I don’t suppose there were many students there. My son and his girlfriend spent a week there in November and they didn’t experience any problems. All the students seem very sociable and polite.


We are pleased so far mainly because we like the location. It is very easy to get to whether by car, Eurostar or plane and of course you have the metro on the doorstep giving easy access to Paris. I also gather there are plans for the Tramline to pass through Pantin. Although we have not yet stayed in our own apartment, we have stayed in one that is identical and we were pleased with the furnishings, basic but practical. The rent has more or less been paid on time and the syndicate charges we have just received seem very low. Obviously it’s early days yet but we hope that in the long term it will turn out to be a good investment.


Please advise of your experiences.


Ann & Paul Mudd


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