Who is responsible for the day to day running of the property?
The management company is responsible for fully maintaining the property. Clearly it is in their interest to maintain a high standard to ensure maximum occupancy levels. All utility, maintenance and insurance costs are met by the management company. The purchaser is only responsible for the local taxe fonciere. This is dependent on the size of the property but a typical two bedroom property would cost approximately 200 per annum. This can be offset against the income.
