Hi
I have a leaseback property in France (I only give it to lease company for 4 weeks in August every year the rest of the time its mine to use or rent out myself) I absolutely adore it and plan on spending much more time in it (hopefully semi retire there), the initial 9 year lease renewal is approaching
Just wondering in advance has anyone who has a similar setup ie not the full leaseback gone passed this lease review
What terms were you offered when it came to renew I presume they were less favourable due to economic situation
How much compensation would you have had to pay to buy out of the lease, I am fully aware I will have to pay 12/21 of the VAT but it is the additional compensation amount for non renewal that I am concerned with, what are holiday companies looking for or are they better please for people to buy out so they dont have as many properties they have to rent out?
Any ones experiences welcome
Tks
I have a leaseback property in France (I only give it to lease company for 4 weeks in August every year the rest of the time its mine to use or rent out myself) I absolutely adore it and plan on spending much more time in it (hopefully semi retire there), the initial 9 year lease renewal is approaching
Just wondering in advance has anyone who has a similar setup ie not the full leaseback gone passed this lease review
What terms were you offered when it came to renew I presume they were less favourable due to economic situation
How much compensation would you have had to pay to buy out of the lease, I am fully aware I will have to pay 12/21 of the VAT but it is the additional compensation amount for non renewal that I am concerned with, what are holiday companies looking for or are they better please for people to buy out so they dont have as many properties they have to rent out?
Any ones experiences welcome
Tks