To do this, you need to have good knowledge of the assets (market value, rental value, study of the leases, technical condition and cost of any work needed to bring them into compliance with standards).
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Present value: IFRS / French Accounting Regulations Committee (CRC) 2002-10, see section "market value of real estate".
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A study of the leases is conducted in collaboration with our legal advisers.
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If necessary, the management audit will be conducted both to validate the options taken for external management (delegated management, facility management), and to audit the internal real estate management offices,
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Regarding the condition of maintenance and compliance with standards, a general technical audit should be conducted regularly, as well as a periodic technical inspection to prevent gradual damage and identify non-compliance with standards.
This type of audit makes it possible to:
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Identify damage that is likely to worsen (in particular for the roof)
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Prevent considerable maintenance expenses linked to secondary damage
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Plan repair operations before they become urgent, at better rates
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And to finance future expenses, divided into three categories:
- Urgent repairs
- Expenses to be provided for within a maximum of three to five years.
- Repairs to be planned within five to ten years.
If you have a stake in the capital of your company, you can harmonize your personal assets with those of the company (in connection with special ad hoc agreements), in order to optimize your solidarity tax on wealth (ISF) liability and to control all of your real estate risks.
Regarding your ISF tax return, you should:
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Avoid costly tax adjustments for failing to submit tax returns or undervaluation of assets, thanks to evaluations that are both prudent and realistic
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Anticipate the inevitable adjustments in value before any inheritance, gifts or foreseeable acts likely to capitalize the real estate assets that you hold
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Avoid having to cover the cost of any adjustments after the third year, and limit penalties for acting in bad faith, in the event of undervaluation, by transferring your liability to the appraiser.
Regarding assets that are associated with your family assets, e.g. business, industrial or commercial premises linked to your professional activity, you must:
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Check with your tax consultant whether it is better, in terms of your ISF liability, to hold them through a property investment partnership (SCI) rather than through the limited company (simplified joint stock company - SAS, or limited liability company - SARL) that you run (or used to run during your period of activity)
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And check with your real estate appraiser the possible transfer value between these entities. Such transfers fall within the category of special agreements, and your statutory auditor will generally ask you for an appraisal of the transfer value.
In the event of the transfer of your company, if the buildings where the activities are performed are held by a family property investment partnership (SCI), check:
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The potential risk of termination of the leases by the assignee
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The rental tax system for such assets held in your own name
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Consequently, the advantage of a transfer to the company before it is assigned to a third party. In this case, the capital gains on the sale are often no longer taxable, whereas the rent (if the assignee does not terminate the leases) is still taxable...
Simply asking the opinion of a friend, or even of a professional (e.g. a real estate agency or real estate agent), does not give you the necessary independence, neutrality, objectivity and technical competence. In particular, such an opinion does not offer the guarantee of the liability of an independent professional (which reduces your own liability in the event of a dispute or adjustment).
A simple ISF tax return represents one case where a genuine independent appraisal is often necessary.
For 25 years, LAMY S.A. Expertise (court-appointed appraiser and consultant for both companies and private individuals) has been conducting appraisals of the market value of real estate, with the independence and the technical and financial skills required.
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