English
FrançaisHi,
What happens after the first leasing period if I don´t want to renew the leasing? If I want to sell or have the apartment for my own must I have a permission from the management company or the mayor to do that? Or can I decide myself that it should be a normal property and not a leaseback?
Best Rgds
Commentaires
Lomi
Change from leaseback to normal property
25 Octobre 2007Seamus,
Sorry to be a pain, as I have already bought direct from P&V (I hadn't found this forum), but I would appreciate your professional opinion. P&V told me, verbally, that they generally don't claim compensation for non-renewal after the first lease, although reserve the right to do so if lots of owners are looking to bail out and their (P&V) share of the building is dropping below the threshold they are looking for.
As a guide I was told that if you wanted to terminate a lease early, aside from the VAT implications, you could expect P&V to seek around a years rental payment in compensation.
Is this your experience? I am not in a hurry to break or terminate the lease, and see this as a long-term investment, but want to know what the contingency options are.
Thanks,
Mel
Lomi
Change from leaseback to normal property
25 Octobre 2007Seamus,
Thank's for the quick response. Certainly glad to hear that the P&V rep was being pretty straight. It will be interesting to see if the rise of UK leaseback owners, possibly with differing investment strategies to the traditional french buyer, will see a higher percentage of owners looking to break or not renew leases in the coming years thereby causing companies to be less sanguine about compensation. I guess much depends on whether the market keeps rising...
Mel