BECOMING AN OWNER:
On completion of this maison,we decided to property share our home and formed a French company (SCI )that owns the house. We also formed a Canadian company that owns the French company so all transactions are done in Canadian dollars and avoiding the French inheritance laws. So whether you live in North American or in Europe, transactions are uncomplicated as you are simply purchasing shares in a registered Canadian company.
With this plan, the dream of owning a place in France is within easy reach to many. The home is owned in perpetuity by all of the shareholders. Your time can be used, rented, traded or house exchanged. France has long been regarded as one of Europe’s most desirable holiday destinations.
We are offering this cottage to a special group of like-minded people who love France as much as we do.
The cottage is divided into 52 one-week shares (most people have purchased 2- 4 shares)
We still have a limited amount of opportunities for sale.
Depending on availability, owners will choose when they prefer to start their time.
There is a High and a Low season but you can swap your time amongst other owners if it is agreed upon.
Even though real estate has gone up in France, we are continuing to offer our original price for shares and have even given a discount of 10% if you purchase two or more shares.
PRICES FOR SHARES:
LOW SEASON: November 1 to April 30
5,000 Euro/ one-week share, or purchase 2-4 shares(weeks ownership) priced at only 4,500 Euro/share
HIGH SEASON: May 1- October 31
8,000 Euro one-week share, or purchase 2-4 shares(weeks ownership) priced at only 7,200 Euro/ share
There are no extra taxes (GST)
SO WHAT IS FRACTIONAL OWNERSHIP?
It is basically a hybrid of direct ownership and timesharing.
Fractional ownership combines the best elements of both.
The primary differences are that timeshares involve many shares in a large complex “resort” that is never owned by the shareholder.
Fractional ownership is deeded joint ownership of a single property by a few individuals.
Fractional ownership is rapidly increasing in popularity as house prices outstrip inflation and more people who cannot afford outright ownership can seek a way to purchase at least a share of their home in France.
Part ownership allows you to recoup your investment in savings on holiday costs while retaining equity in a property.
SO WHAT WILL I OWN?
You will own one or more shares in “Maison Vauyon LLP” a Canadian company registered in British Columbia, Canada. Each share entitles you to one week of use or potential rental income. You will also receive one voting right per share. “Maison Vauyon LLP” owns the building outright at 37 rue de la Vauyon, La Charité-sur-Loire, France through ownership of the French legal entity “SCI Maison Vauyon”
HOW IS TIME ALLOCATED?
After you purchase your shares, you will then be able to choose your start date from the times available. The following year, your week(s) will rotate forward one week within your season. (High or Low)
Year one: May 1-7
Year two: May 8-14 etc. until you reach the end of your season, it then reverts back to the start.
Usage weeks run Friday to Friday, thus actual start/finish dates may vary each year.
WHAT ABOUT RENTAL INCOME?
If your weeks are rented out, you will receive 100% of the rental income (minus cleaning fee) this is not a shared rental pool.
Ouside of electricity and gas billing which are calculated per use, all other yearly costs are divided and shared.
All operating costs are determined and shared equally among the owners according to the percentage of which you own.
Taxes, insurance, gas, water, electricity, TV, French caretaker, security checks etc. is a very low cost, usually only about 75 euros per share per year.
(Electricity for winter months is calculated separately.)
Management fees include filing the French taxes,paying all of the operating invoices and insurance etc.
It also includes managing rentals including four different sites ( Airbnb, Booking.com, VRBO and Holidaylettings) and managing the cleaning company.
This cost is usually about 98 Euro per share/ year
Total expenses approx. 173 Euro per/ share per year ( things will only go up if French taxes or insurance go up but this is not expected)
What a fabulous way to own property in France!
If you don’t use it, leave it to the management team and we will do our best to rent it out for you.
You can rent it to friends or do a house exchange for other homes anywhere in the world.
This piece of France is yours forever, what a wonderful way to establish a family legacy.
Its your dream.... its up to you!