Residhotel in Administration

23 Février 2009

I have just heard Residhotel have gone into administration. This is not confirmed but has anyone else heard anything?

Soumis par Rich22 le

Hi Gabriel,


I am also an investor in the Residence Virginia Grasse with RH as the management company. We are scheduled to receive our first quarterly rent on May 17th, since RH has started exploiting the property only on Feb 17th.


I have not received the letter from RH explaining that they have gone into a "saguard proceeding", have you?


This should be a cash flow positive property for them because of the location and the fact that it is targetting a business as well as a holiday clientèle.


Regards,





Soumis par Gabriel le

thanks for thar R suave


i have not received any letters from RH but i am worried as no call or emails have been returned. i was led to believe our rent was to commence at end april. u say may??


fingers crossed


gabriel

Soumis par Seanie le

Seamus


You seem well informed perhaps you could guide me I have a place at Residhotel Les Haut d'Andilly been trying for ages to get any info any suggestions I have sent register letters to Residhotel and Reciever looking for status but giot no reply yet thanks

Now into 3rd qtr without payment from Residhotel for Clos

de la Cite, Carcassonne. Looking for other owners to start

a more concerted push on them. Occupancy rates seem

reasonable so this is pure theft. A few other owners in

touch already.

Soumis par Seanie le

Hi Seamus, Purchased appartment Residhotel Les Haut d'Andilly in 2005 came on line 2007 was paid since then six months in arrears as per contract last payment was Jan 2009. Expecting payment July 2009 for first six months this year and have not received and notice of payment yet. I only found out of Residehotel going into receivership through internet I have not got any correspondence from Residhotel this year (2009) on any matter nor has any receiver contacted me any suggestions thanks

I instructed Fabien to do a CDP after being 3 quarters late - typically I

then got paid 1 quarter. I will still be going after the third- the place is

packed! I had my first EVER response from Marie at Resid yesterday!

Soumis par Seanie le

Seamus, No did not move but have sent details to residhotel again and to receiver at this address Master Cardon, 15 impasse de l’clock, 06.110 Cannet, France perhaps you could inform me if this the correct address of the reciever you help to date was great unfortunatly I dont think any of the other Andilly owners know there is a problem as rent is paid 6month in arrears twice a year Jan and July so they will not experience a problem until their bank contacts them, thanks again


Good News closdelacite ! I have written to her again this

week but maybe CDP is answer. Good to know there is someone

at the end of the line after all ! Are you clear to Mar 12

then ?

Yes - my q1 rent was due on 10th April. I have been told q2 rent will

be paid in September (it was due 10th July). I know other people have

issued CDPs for their rent - the total cost is around 550 euros.

Grr I still haven't had my rent paid so I am going to take the next steps - I thought I would give them until the end of Jan! Can anyone recommend a good lawyer?


Thanks


Soumis par ncorps le

Hi, I have just received the below email from leasebackowners club - they state that 54 resorts have been taken over by Quietude Evasion. I thought that this was only to be 17 resorts?


Quietude Evasion takes over 54 Residhotel resorts

It was announced this morning that Quietude Evasion, a division of Group Quietude, will be taking over 54 resorts previously run by troubled management company Residhotel.


According to early reports, the resorts that Quietude Evasion are taking over will be in areas of France where the company has had limited or no presence before now – mostly in the Alps and in coastal areas popular with visitors.


Quietude Evasion claims that with its previous resorts, the company as a whole was suffering from seasonal changes in demand and from not having a presence in some of the popular French tourist areas. It is hoped that the addition of the 54 resorts to Quietude Evasion’s existing network will help to combat those factors.


This step takes the number of resorts run by Quietude Evasion up to 90, with a total of 20,000 beds.


Residhotel was put into Receivership in March this year, leaving many owners having to file claims for unpaid rent while contemplating an uncertain future.

Soumis par Duffmary le

You could try contacting Mr Fabien Cordiez. He is a UK

solicitor and a French Barrister (an 'Advocat')

specialising in French property law including leasebacks.

Just google him to get his details.

I understand that in the past other members of this forum

have instructed UK-based lawyers, but these seem to be only

good at selling French leasebacks! When bad turns to worse

the UK so-called French property specialists appear unable

to actually help people receive their rent.

Soumis par Ranger le

Is this a reliable source? There seems to be a lot of different messages going around and I find it amazing that RH can palm off 54 residences to Quietude without the owners knowing about it and more importantly ...how do these individuals know this information before the owners do?

Portrait de cordiez

All those Residhotel leases which I have reviewed on behalf of leaseback owners state, as most French business leases do, that the leaseback company (Lessee) can 'sell' the lease to another company. This, in French legal jargon, is called 'cession de bail'.

If RH sold some of the resorts to Quietude through a 'cession de bail', then Quietude should simply take over existing leases and cannot change terms and conditions e.g. lower the rent.




Thanks - I actually used Fabien when I bought my leaseback.


Seamus, do you know when this facility will be available? Also if I issus a CDP and Residhotel break the lease would I then have to get a lawyer involved? Anyone know how long you have to repay the VAT?!


I have tried e-mailing residhotel several times - they don't respond though I know they received the e-mails as they processed my change of address. I have also tried phoning - they put the phone down on me as soon as I start speaking!!


cordiez is right... however they can stop paying rent as RH did and apparently that's already what's happening with some residences which have been recently taken over by Quietude.


Also Quietude creates some small companies such as SEHEP and transfer the lease to them and to other small companies such as SGH, without telling the owners.

Portrait de Tuulia
Soumis par Tuulia le

Yes, I was paid several weeks ago.


I opted for two weeks occupancy a year in my residence but will not be able to use the second week this year. I've emailed Resid Hotel to ask them what happens in this situation but have had no reply as of yet. Just wondering if anyone knows what the standard procedure is? I read elsewhere that the management company can "buy" any un-used weeks...

Portrait de Tuulia
Soumis par Tuulia le

Has anyone been paid their 4Q10 rent yet? It was delayed until Feb 15th but they have yet to pay it. We covered the delay but cannot afford to put any more money into our mortgage account. Does anyone know what will happen if we default on the mortgage?

Soumis par ncorps le

Hi, I have received a response from leasebackownersclub stating that they made an error with reporting the take over of Residhotel resorts by Quietude - it is 17 resorts as was first reported.

Soumis par ians le

Has anybody received any rent from RH yet? Has anybody got any updates on their current situation? Other than leases being sold on to Quietude (another failing company), I've not seen much recently.

Soumis par Cath le

I have still not received my rent.



Can someone advise as to where I send a reminder by email or fax



Thanks


Catherine

Soumis par Seanie le

Seamus; inresponse to my previous enquiries to you I have now recieved my rent for Haut Andill for the full 6 months this year I sent registered letters and phoned residhotel last week apopreciate your guidance. was lost on procedure Thanks again

Soumis par Ranger le

We received today details of a residents meeting at the end of March for residence athena in Les Carroz. Has anybody else received this and if so can they please get in contact. There are points on the agenda which are interesting.


Have any other RH owners received any indication of when the hearing is taking place or if RH have any hope in having their safeguard removing?

Soumis par Ranger le

Are there any Residhotel owners out there that have had their Syndic changed from RH sister company to a non related Syndic? Does anybody know if this is normal practice or is it perhaps indicative or what is going on with RH at the moment? Would appreciate hearing from anybody with RH.

Rich22 and Gabriel-


I too am an owner in Residence Virginia in Grasse. I received a letter on Friday, dated 29 April. My French is poor, but if I understand it correctly, the management of Residence Virginia will be passed (was) to a new company on May 1, and my lease will be transfered as well. It further stated that the new company will contact me. I have not be contacted yet by the new company.


I do not know any other details. I too am waiting for my first rent, due on May 17.


-Stan.

Soumis par Gabriel le

hi stan


keep me posted if you hear anything re rent going foward. i have been unable to speak with anyone in rh. very frustrating.


fingers crossed for 17th may.

Soumis par Ranger le

I received a letter the other day from Rhode Tourism regarding what I believe to be the claim we submitted for the missing quarter payment. Has anybody else received this letter? I could do with bouncing around the contents as I am only understanding the gist.

Soumis par Cath le

Still no rent for me for Clos de la Cite in Carcassonne. How are others doing?



Is there another way to contact apart from Marie Malveau as she has not replied.



Kate

Soumis par Ranger le

Thanks Seamus - I know they are disputing the amount but to be honest I had lost hope of having it refunded anyway. Mine was only a 90 euro difference. However, there was a bit in the letter that I was unsure of, it seemed to say that there were over 2500 claims and paying these would further burden them with the safeguard procedure. My french is not good enough but I thought they might be suggesting us withdrawing our claim?!

Soumis par caro le

I also spoke to her this morning re La Saboia and got little by way of response except that she does not know when she will see Mr. Malko and cannot give out his contact details, nor confirm when the rent will be paid, other than the end of the month!!! I'm really frustrated at this stage with the constant messing about. I am going to issue a CDP today.


Does anyone have access to a contact for Mr. Malko?


Maybe if we bombard him enough by phone or email he might actually authorise payment. He is very well protected from the mess he makes for everyone else to sort out which seems rather unfair.

caro41169.5344328704

Soumis par shaddow le

Hi Fabien - thanks for the correction, but unfortuantely I'm still not sure who he is and how he fits into the whole equation.


Any info would be gratefully received.


Stu.

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