Buy for less, buy a property occupied
Monday, June 11th, 20121 – How is the discount on the selling price?
It varies depending on several factors: the lease term remaining (the lease is for six years where the lessor is a corporation and three years if an individual), the level of rents relative to the market local, and the characteristics of the tenant (age, resources) and the lease (1989 Act or 1948 Act). For example, in the presence of a tenant who is under 70 years of age using a standard lease (Act 89), the "discount" generally varies between 7 and 10%. But may reach 20 to 30% if aged over 70 years and has limited resources (the lessor can not, in principle, give leave, except to propose an equivalent one, or be himself aged over 60 or with low incomes). Are the most important discounts in locations subject to the law of 48. These homes are, indeed, often in poor condition, rents, already very low, are blocked, and the occupant has a right to maintain occupancy for an indefinite period.
2 – How to find occupied housing?
Housing supply comes mainly occupied by institutional investors (banks, insurance companies, property companies, etc..) That have always been a residential rental property in their heritage. Regularly, they sell part, putting on the market several hundred homes. This is mainly apartments in Ile-de-France, addresses and quality buildings. These sales transactions called "batch" was entrusted to specialized companies. So it is from one of them that you will turn to access the offers of goods occupied cash advance. The principals include BNP Paribas Real Estate, Catella Residential, Land Bank real estate, marketing or Féau Foncia Valuation. If there is also an offer of sold premises occupied by individuals, it remains quite low, landlords preferring to wait until the tenant has given leave to sell.
3 – What are the precautions?
If you make a rental investment, get a copy of the lease to ensure it contains clauses allowing you to cancel the contract under certain conditions (arrears, default home insurance …) and to review the rent annually .
Also ask for the latest rent receipts, to ensure their regular payment. The strategy will, however, different if your goal is to occupy the property. Even if the law (art. 15 of the 1989 Act) authorizes you to give clearance to the end of the lease, to use the housing, better, before buying, inform the tenant of your intention. If you feel that he did not intend to leave, abandon your proposed purchase, because you may be facing a lengthy and expensive procedure
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