Following important recent legislative changes in France, the rules on how to replace a French Building Manager or “Syndic” have been subject to changes. Cordiez French lawyers recognise the need for foreign investors, especially from UK and Ireland, to benefit from expert advice on such complex legal matters. The firm has developed an ad-hoc service which is unique in the French legal profession.
However, many of those who invested in French leasebacks have had mostly negative experiences, with leaseback companies defaulting, imposing rent cuts and expecting investors to pay them extortionate amounts to end the lease.
To make matters worse, French leaseback investors are often facing escalating running costs and are at loss on how to deal with such co-ownership charges through the “Syndic de Co-propriété” (Building Manager).
Most such “Syndics” were appointed by property developers, when investors were buying leasebacks off-plan. People are often having very bad experiences with the firms that were initially appointed as Syndics. Poor management, combined with the feeling that the Syndic is biased, leads leaseback owners to consider getting rid of the current syndic.
Cordiez Avocats & Solicitors have created an innovative, specialist service, which helps owners achieving their building manager’s replacement.
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