Design Your Own Fractional Ownership Property with "French Property Fractional."
Put your own group together to purchase a property!
A division of the Adrian Leeds Group, "French Property Fractional" is the hottest way to own your piece of Paris simply, easily and inexpensively without the hassles of purchasing it on your own, but with all the benefits of doing it yourself. What's new about "designing your own" property? While this system works well for many investors, we found that there are large numbers of individuals who would like to combine the benefits of traditional fractional ownership with single-party ownership, enjoying more time to personally use the property, having more decision-making power about the property, more input and more control. We believe that you want to feel like the property is really yours -- and it is!! So, why not have a more personal relationship with the property.
Here's how French Property Fractional works:
FIRST, WE OFFER A "CONCEPT"
Our team is offering a property CONCEPT...to search and find the a Paris property to be shared between only a very small group of owners -- four to six:
"MY PIED-A-TERRE IN LE MARAIS"
SIZE: 35 to 45 square meters (377 to 485 square feet)
ROOMS: two rooms -- one bedroom apartment, with bedroom on a courtyard for quiet, full bath (perhaps bath + separate toilet) and open American-style kitchen
LOCATION: Le Marais, districts 3 or 4
LEVEL: No higher than 3rd floor (European) without an elevator
BUILDING TYPE: 17th, 18th or 19th-century (no newer buildings!)
AMENITIES: lots of light, nice views, fireplace or balcony or patio, secured storage for personal belongings, all new kitchen and bath fixtures, all the luxurious comforts
COST: 4 shares, 135,000€ each, 3 months of usage per year 5 shares, 108,000€ each, 10 weeks + 2 days of usage per year 6 shares, 90,000€ each, 2 months of usage per year
USAGE: Owners determine their own usage calendar and have complete flexibility to arrange their calendar among themselves
FEES INCLUDE: * Full price of the property including agency fees. * All notarial and legal fees. * Property search and consultation fees. * Complete renovation and furnishing of property to luxury standards by professional interior architect and contractor within certain budgetary constraints.
EVERYONE MUST AGREE: Members of the purchase pool must be willing to invest the full amount of at least one of six, one of five or one of four shares to be held in an escrow account to fund the property search, purchase and renovation.
NOTE: The Adrian Leeds Group will offer optional property management services upon completion of the sale and renovation at an additional expense to oversee the maintenance of the property, provide housekeeping between owners' visits, manage the calendar of owner visits, pay all annual taxes, utility bills, etc. OR the group may operate fully on its own upon completion of the process.
The Design Your Own Fractional Property FAQ
Q: What is the approximate monthly or yearly upkeep/maintenance fees?
A: Each property has its own and different "copropriété charges" shared among the owners by a percentage that relates to the size of the apartment compared to the entire building. This information is disclosed at the time of offering, but may change as the homeowners association votes the budget on an annual basis.
Q: What are approximate taxes and insurance costs? A: As with homeowners association fees, each property has its own and different tax basis. This information is disclosed at the time of offering, but may change on an annual basis. Insurance costs will depend on the needs of the owners. Reputable insurance firms will provide estimates based on the level of coverage determined by the owners.
Q: Can the apartment be rented outside of the group ownership?
A: That is determined by the owners, who have total control over how they wish to manage their won property.
Q: What is the approximate fee for management of the property?
A: Our Concierge Service will be happy to make a proposal to manage the property at whatever level the owners wish, however, the owners are free to contract any service at any level.
Q: Do you also have properties in the countryside, or houses in nice "banlieue" areas? Can you give an estimated total cost if the apartment was two bedrooms instead of one?What if I would prefer to purchase a fractional ownership in a specific district?
A: Our first offering in "concept" is an apartment in Le Marais, however, any group of owners can contract us to find and organize a fractional ownership property of any size or in any part of France. In this case, however, the owners must have already formed a group large enough to support the purchase of the property and not depend on our marketing to "sell" any shares.
Q: Do you think four people at one time is doable in this space (35 to 45 square meters -- 377 to 485 square feet)?
A: For stays longer than two weeks, no. This is a comfortable one-bedroom apartment with possibly a sleeper sofa or "Murphy" bed in the living room. It's great for short stays for more than two, but two is best.
Q: Would you have any apartments to look at by the time we arrive in Paris? A: The system works in a different way from an traditional property search. First the four share holders must agree to the concept and invest their money prior to a search for the apartment. With agreements in hand, our team will locate the best properties which will be offered to the owners participating in the pool for an acceptance or denial.
If you are interested in participating in a purchase pool for "MY PIED-A-TERRE IN LE MARAIS," or other property, email Adrian Leeds at [email protected]