Problem with French Leaseback

[maryt]

Has anybody invested in a French Leaseback called Domaine le Clavier in La Rochelle. The management company are called Lagord and the lease with them began in 2007. I have found that they have found that they have missed rent payments this year and are difficult to get in touch with. Would appreciate any information from fellow investors on Lagord Managment Company.

 

[sextant]

I never heard about them. We have never sold this development.

If their company goes under then it is most likely that another leaseback company will take over but with a new rental contract. The French law gives 1 year to find another company to replace them in case they cannot meet the rent payments. After that you will need to pay back the VAT to the French government.

If you send them a letter by recorded delivery they must reply to it. Otherwise I advice you to start instructing a UK solicitor specialised in French property law. He will send them an official letter and most of the time it is enough to get an answer and solve the problem.