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FrançaisHi
I am an owner in Residence Paxton, nmanaged by Accelis Gestion.
I just got a letter proposing a reduction to in rent to 2.5%.
Accelis Gestion claim that they need to reduce the rent in order to keep the Paxton business going and to pay for upgrades, etc.
This is my second reduction. In about 2011 my “guaranteed rent” was reduced to 3.5%.
Just wondering if you’ve had experience of this before and if you refused to accept the reduction?
If so, what happened? Was the original "guaranteed" rent maintained?
If you didn't agree to the reduction, was rent held back?
Thanks Conor
Your first mistake was accepting the first rent reduction, it is part of the scam. Do not compound this by accepting another. Flatly refuse and send the management a Commandement de Payer if they do not pay. If the refuse to pay the CDP then you can go to court and have the lease cancelled. Many people here unwittingly weer complicit in their own downfall by accepting a rent reduction in the forst place.
Thanks Enda,
Sounds like the thing to do alright. At the time, I was pretty much up sh*ts creek and felt that something was better than nothing.
Things for me are a lot better now, thank God, so I'll fight any attempts to reduce the rent. Being on this sitep has taught me a good bit and it's good to see other owners in my development feel the same way.
Cheers Conor
Hi, I am also an owner in Paxton.
I didn't sign the form in 2011 and nothing happened. I don't intend to sign this one either. Good luck!
Hi,
I know some owners in the residence Paxton. Ideally it would be good to recreate the group but I do not have contacts with owners whom initially created group.
I will suggest not to sign and if the payments are not met or partially then send the CDP. The lease is coming to an end in 2018 if the management company would like to continue trading in Paxton they will accept your terms if not they will send you a notice of departure.
Regards,
Eddy
Fo as Eddy sugggests NEVER sign a rent reduction, if they won't pay the rent then send them a CDP...if the don't pay this have the lease cancelled for breach of contract. Accepting a rent reduction makes you complicit in this scam and they use fear and bullying to get you to accept it.
What is the procedure for sending a CDP?
just follow the instructions in the "rent not paid" menu.
There's one point of info lacking in the above and similar blogs.
Can anyone tell me if the following is incorrect?
If one gets a demand for a rent reduction at the end of the lease (or during the lease at agreed review dates, depending on the contract conditions) and the owner refuses to accept the new lower rent then the tenant company can go to court and argue that the rent reduction requested is reasonable.
If the court agrees that the requested rent reduction is reasonable then the owners must accept it or pay compensation to the tenant-company.
These court cases can take ages and cost money and usually are sorted out of court but they do happen even in the case of French leasebacks.
Our tenant owners demanded a 50% reduction at end of lease three years ago. Briefly, and with some details omitted, -80UK Irish French owners finally accepted a compromise that was worth about 75% of the previous rent. But 60 of the French owners refused and there has been never ending legal letters going to and fro. The case will finally take place n
...sorry..
ending should say the case will finally take place next month in Meux ca. 21 December.
I dont know if this is the only case of a leaseback tenant company taking legal action to enforce a rent reduction . Does anyone know?