French Leaseback/Rent late

[JimK]

Has anyone had a problem with late payment of rent by the management company? I have a leaseback in Paris, the rent was paid six to seven weeks late initally and now it is being paid three months late. Do I have any legal recourse and is it practical to pursue this angle?

 

[Carriglee]

Hi Jim

I remember hearing of someone that had a similar problem with the management company of a Paris based development. Unfortunately, some management companies do not have a great reputation and especially with their payments to overseas owners. In that case the buyer contacted a Notaire who sorted the matter out fairly quickly. I believe that a management company not paying rents in accordance with leases can be reported which will affect their ability to get future licenses to manage Residence de Tourisme schemes. I believe the threat of reporting the company was enough of a stick to teach them manners. Hope this helps.

Regards,
Paidi