Is the Management Company entitled to automatically renew the lease after the initial lease period is over?
Very often this is the case. However you can normally exit the lease after the term by writing 6 months before hand. It’s wise to remember though that renewing is normally a good idea. You can imagine how difficult and unworkable it would be if each client were managing their own apartment. We do a great deal of work to make sure that we only deal with companies who have favourable contracts that are fair to both parties. It’s always better to seek independent council before you sign something just to make sure you are happy. Each leaseback contract is different so it is important to look at the individual clauses of each contract. Typically, the leaseback company pays all management costs, repairs, maintenance charges, taxe d’habitation, electricity, water etc. Apart from the ‘Taxe Foncière’ (rates) and the frais de syndic.
