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Our leaseback with Odalys in Port D'lbert is due to end next March 2014. We were told when we took it originally we had to give a year's notice to advise if we want to renew it or not. Does anyone else have a leaseback with Odalys due to expire and do they know if Odalys are taking it again. Thank you.
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woody
Odalys nine year Leaseback ending
14 Mars 2013hi
I am in a similar situation in plan de la tour. lease
will end in November. I wrote to Odalys in January asking
what their intentions were but have heard nothing back
I think it will all depend on whether the complex is
profitable or not..Odalys had good profits and growth
last year.
feel free to pm
Woody
woody
Odalys nine year Leaseback ending
25 Juillet 2013Hi all,
Looks like I will be first to hit this so will keep you
informed. Lease up in October. No communication yet. To
be fair they have consistently paid the rent even if a
bit late late for the last 9 years and have applied the
INSEE increase/decrease as specified in the lease. The
recent drop in the rent is as a result of the french
government insisting that Odalys take the VAT at source.
It is not a nett reduction for the landlord (us!)as you
would have to pay this vat out of your rental income
anyway just in a lump sum at the end of each year.
I still believe the deal they will offer will vary by
residence.
Watch out for the need to replace furniture which you own
just after lease renewal.
Interesting times ahead for all of us who jumped in (in
hindsight) pretty blindly back in 2004/2005 when
property was going up by 105/20% per annum and we thought
we couldnt lose....
D