Yes. An accounting office is compulsory and will be imposed the first year by the manufacturer. It costs around 300 euros per year. Then you can choose the one you want for the following years. In general, customers keep the same accountant throughout the lease.
As a non-resident owner of a furnished property in France, the accountant will fulfill the formalities for obtaining a VAT number for you and will also make all the declarations to the VAT collection and reimbursement authorities.
No, the accounting office and the builder take care of it for you. The price you pay is therefore excluding VAT. The purchase is made all the more accessible and competitive in this way.
Of course. Contact us and we will arrange an appointment. At home or in our offices. All potential buyers have important questions that require a specific answer. Purchasing a Tourist Residence in France is a well-established and proven operation, it is therefore essential that you are in total confidence when faced with the steps to follow.
France is the most visited country in the world. It has occupied this position for more than 3 years and 90% of French people stay in France to spend their holidays. This represents no less than 961 million overnight stays each year. With such a strong rental market, it is obvious that the property will be in demand.
However, it is in the interest of the management company to keep the rental stock in very good condition. What's more in 4 **** residences. This leads to a high occupancy rate and customers who return year after year to the residences.
The contract between the owner and the management company is a commercial lease. Commercial leases in France bring together not only rental properties but also all those involved in the field, such as restaurants and shops for example.
The rules are clear. The term of the lease is 9 years, renewable for another 9 years.
The owner nevertheless has the possibility of breaking the lease and taking the property in full enjoyment after 9 years. In this case, compensation could be requested by the management company as operating loss.
It is very rare that customers wish to break the lease before term because it is the rental income generated by the exploitation of the property by the management company which allows the self-financing of your property. Breaking the lease in a Tourist Residence would require you to bear all of the charges, repairs and maintenance that were originally borne by the management company.
No. All security deposits are made in escrow in a notary office. In the event of a problem, the notary makes the reimbursement.
When buying a Tourist Residence, it is very important that the lease corresponds to your desire for occupancy. If we stick to the end of the contract, it is signed for 9 years. However, some management companies allow the owner to change the type of lease after 3 years
In addition, most management companies give owners a 20% discount applied on the rental rate in force, on any additional rental they would like to take advantage of.
Nowadays, the laws governing management companies are stricter than they were before, which means that the market is better controlled. The fact that many French banks lend for purchases in Tourist Residence is proof that the system is viable and under control.
In this very unlikely event, French law is very strict. The management companies MUST ensure that the rents are paid on time. In the event of a default, the owner is entitled to take legal action against the management company as part of a “protective judicial measure”. If the management company becomes bankrupt, the law stipulates that it must find a management company which will resume its activity and will ensure the payments in turn.
In the rare cases that have occurred in France, the origin of the problems have often arisen in the lack of experience in the field of management.
Yes ! This warranty is better known as GFA. End of completion guarantee. In France, this guarantee is very clear. A builder MUST obtain a financial guarantee for completion before even being able to sign the deeds of ownership of the goods. For sales on plans, this guarantee is obtained by the builder's bank once the project reaches 40% of sale. The sums of installments paid by the buyers are consigned under the sequestration of a French notary instrumenting the sales.
It is only once the percentage of 40% is reached that the notary can proceed to the establishment of the act of purchase for the transfer of property to the buyer. The Notary is an officer of the state and he alone guarantees the smooth running of transactions.
In the event of the manufacturer defaulting, all the sums deposited are fully reimbursed by the Notary to the prospective buyers.
This system guarantees buyers total security and peace of mind.