French Leaseback Problems ?

Re: RE: Languedoc region

Scotty,

From what I learned about lease backs you cannot write out the right of a commercial lesee to renew their lease with you, they may agree to it but such a clause is basically worthless.

Another drawback with these properties is that the majority are designated as holiday accomodation, i.e. nobody can live in them for more than six months at a time. This means that the are not resedential property and your local joe would not be interested in buying them.
 
Re: RE: Languedoc region

Hi Biggles

Missed your question until now. This development isn't one I would go for myself. I don't stray too far away from urban centres. However, I believe from what I'm told that this development is in a nice area and is also very accessible to the nearby cities and will attract both tourists and business people. At the same time it is considerably cheaper than your average Cap d'Affaires and so you're getting more 'bang for your buck'.

Regards,
Paidi
 
Re: RE: Languedoc region

Carriglee

Thanks for that.

B
 
Re: RE: Languedoc region

Thanks Pininvestor.

That's the town alright.

I agree with Carriglee that, as a location, it's neither here nor there.

The search goes on.

B
 
How many of you are having problems getting rental income from the Management Company. If so is there anything that can be done about it.
 
John Lowe, the Money doctor was on Eamon Keane touting French leaseback last week and might be worth asking him about this (think he is on every tuesday lunch time). Are some tales of woe from Irish investors in leasebacks in France now. Rents are not being paid and they are clearly not a low risk investment.
 
hatty said:
How many of you are having problems getting rental income from the Management Company. If so is there anything that can be done about it.
Click to expand...

My brother has a lease back in France and he has got minimal rent so far in a lease back. The first company didn't pay. There were hugh problems in "getting them to move" on. The next company who were supposed to be reputable have given the same problem, very slow in paying rent. When he got the check a couple of days ago, the amount was minimal. Would my brother buy a lease back in France again? Definitely not. If my memory serves me correctly, it is extremely difficult to move on a lease back company if/when they don't deliver the rent. Optimistic
 
Just noticed this thread I have been speaking to a friend of mine that has a lease back in France and does he regret it!!! They have not got rent for months the management company has collapsed they have had to go over to France numerious times and meet up with other owners to try and organize something themselves. This property is outside Nice and he said he has now heard numerous simular stories about other leasebacks and he said if he had it all over again he certainly would not have gone down that road of investment.
 
Hi
Since I send above email in Feb I have discovered a frenchleasebackforum website which I use all the time to keep me up todate with the neverending frenchleaseback problems. Would I buy a frenchleaseback again certainly not.
Hatty
 
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