Rental company must be registered

Since December 1, any tourist furnished rental company must be registered and its registration number appear on the online ad to verify that the owners do not exceed the legal limit term lease of 120 days a year. (Credits: DADO Ruvic,, The City is asking rental platforms tourist furnished remove ads without a registration number, otherwise, it will launch legal action. Paris advanced some 1,000 listings on Airbnb, a hundred on each of the other affected platforms.

The City of Paris has set Monday remains before prosecution, five platforms offer online rental of tourist homes, remove ads without a registration number, now compulsory in the capital, said the mayor of Paris.

By registered letter, the city “gives notice Airbnb, HomeAway, Paris Attitude, Sojourning Windu and remove ads without a registration number,” he told AFP Ian Brossat PCF deputy housing the Socialist Mayor of Paris Anne Hidalgo.

“If they do not comply with the provisions of Article L.324-2-1 tourism code following our efforts, we will appeal to the competent courts, in this case, the High Court of Paris,” said -t it.
The City tip and some 1,000 listings on Airbnb, a hundred on each other.

Already more than 1 million euro fine
Since December 1, any tourist furnished rental company must be registered and its registration number appear on the online ad to verify that the owners do not exceed the legal limit term lease of 120 days a year. The platforms are held in turn disable any ad-free number, said Ian Brossat. Some 11,000 numbers have been issued in Paris, a fifth of the offer, according elected.
“As long as the platforms will not deactivate the ad-free number, many people continue not to ask,” added the elected that says “this is the least we respect the law.”

Almost 1 million fines total euro were imposed since the beginning of the year in Paris for tourism furnished rental companies on booking platforms do not respect the legal maximum of 120 nights per year. The average amount of 14,000 euros, for 68 units concerned.

City tax up
At the end of last week, Les French deputies decided to raise local tax applicable to leasing platforms in the supplementary budget bill for 2017 The amendment adopted plans to set the rate of this tax to stay in a range of 1 to 5% of the cost of tax-nights per person (minors are exempt) –
Local tax for the category of tourist homes is currently 0.83 euro per person per night. The device provides that communities can choose their rate until October 1, 2018, the new rates, effective from 1 January 2019.
(With AFP and Reuters)


Old real estate loans: Get out expensive loans!

Many homeowners are still paying high interest during construction. With a little luck, you can get out of the contracts.

The low-interest rates, affecting more and more areas of our lives, now radiate even from the past. What kind of sounds like a bad Hollywood movie, can save farmers a lot of money home: Not only for current savings and construction loans interest rates fall further and further. Even financial transactions of the past that were not agreed upon with high-interest rates are now changed or reversed in part.

Hundreds of cases dealing with the German courts. fight, on the one hand, credit institutions such as Sparkasse Ulm to be allowed to resolve long-running savings plans ahead of time with high-interest rates. it is not much different in many building societies, certain old savings contracts with high credit interest will terminate prematurely now. countless struggling homeowners on the other side to be allowed to finally roll over their old expensive construction loans.

A few years ago we finally had to pay for a mortgage four or five percent interest a year. Meanwhile, many rich 1.7 percent. Who would not roll over there?

Is not that simple. Who wants to repay a mortgage early, does it actually the consent of the bank. The usually requires a so-called prepayment penalty – a fee that makes it roll over to the customer in most cases uninteresting.

However, there is a legal trick, how to do it anyway. “There is a lever to come out with the borrower under certain circumstances from the old credit agreement,” says Armin choice Maier, a lawyer specializing in banking and capital market law in Baden-W├╝rttemberg Eislingen. “This is the erroneous cancellation of the bank.” There is also talk of “revocation Joker”.

The financial question: the low lending rates can be a trap

What do you mean by that? Since 2002, contracts for mortgage loans to consumers in Germany must include a so-called withdrawal, which states exactly how to withdraw from this credit agreement. The text of this declaration must meet certain formal requirements. This is not the case in practice often. In many credit contracts, the withdrawal statements contain formulations that make them vulnerable. “For credit contracts from 2002 to 2009, the contracts are according to our experience in more than 90 percent of significant errors,” says Maier choice. “From 2010, the errors in the contracts were rare.”

Who now its expensive real estate lending going on and wants to benefit from a more favorable, can get that right: he can exploit the mistake and cancel the old credit agreement. This based on the fact that a kind of eternal Withdrawal is derived from a faulty withdrawal. Legally, this is all quite controversial. Munich law professor Mathias Habersack example believes that this is a form of abuse of the right of withdrawal. He argues who had served his credit for years, can not suddenly insist on formal errors.

However, practice shows that the courts in individual cases, times and times to decide: The chances of borrowers are apparently not bad. but especially so can some bank not even going to come to the proceedings – but before that willing to compromise in the interest rate.