Can someone explain the above to me please.
I live in Ireland but I have a small ‘buy-to-let’ in France. The Management Company has requested the above from me and I don’t have a clue what they’re looking for.
Thanks for any advice.
They are asking for the Annual Accounts… (presumably you keep some sort of accounting…)
If what you call the management company is the “syndic” they prepare these accounts according to the mandate they receive from the co owners. They can’t request it
If the management company is the co that is letting the property on your behalf, what they request is the annual account from the syndic. Is this management company representing you at the annual co owners assembly ? If yes, they need these accounts to vote on the annual statement.
The “comptes de copropriété” are the accounts regarding charges (lift, cleaning, housekeeper, pool, etc) and repairs due for the building where your property is located. These sums are broken down into the owners according to their shares of the building (tantièmes).
Don’t hesitate to get in touch with me as I already manage a buy to let property on behalf of an Irish owner. It’s always complicated for foreign owners to get what’s due. Since he hired me, this customer was refunded four times the amount I charged him.
Thanks so much Christian.
It’s great to know I have a contact.
When I bought the apartment, the Agents failed to inform me about the Administrative nightmare involved in renting in France! I almost resold the apartment a couple of years ago because of the stress I was experiencing.
6 years on and I’m still working my way through things. My French is very basic despite my best efforts, but even my son, who is fluent in French (he studied and lived in Paris for 5 years), finds all the regulations and professional lingo, etc. difficult to comprehend.
You’re most welcome Helen,
Even for professionals it’s sometimes puzzling as regulations change quite regularly.
A lot of Irish people got lured (by Irish sellers I dare say) into buying “Résidence de tourisme” because of attractive tax incitatives. Is that your case ? Most of them were not able to get things done properly because of their poor command of this middle age French used by lawyers and estate agents, thus lost money and are now in dire straits. It’s really a pity.
In any case, don’ hesitate. I am living partly in Dublin and would be happy to help.