Last year a businessman purchased two penthouse apartments from property development company Dodi Development Corporation S.L. and struck a deal with them that Dodi would rent the two properties from him for two years, with him receiving 4% of the total price. To this day, the purchaser has not received one single euro of his money.
“Lawbird Legal Services” has since discovered that the total price of the two apartments in Cascadas de Calahonda was €850,000 and that Dodi Development were to pay him €34,000 (4%) over a space of two years – the term agreed on the purchase of the properties. Since selling the penthouses last December 15th 2003, Dodi Development have been renting them out continuously without handing over any of the subsequent rental money. The person who is supposedly in charge of operations of Dodi in Spain refuses to comment.
Non compliance of contracts is extremely prevalent in Spain nowadays what with developers making promises to their clients regarding aspects such as location, views, house design, size, payment schedules, handover date, specific facilities or services and as is the case dealt with here – after-sales agreements - but by no means fulfilling them in the majority of cases.
It is appalling to realise that a company like Dodi Development Corporation S.L., who invests heavily in publicity and promotion (via real estate agents and the media), promising in big letters a guaranteed rental income of a percentage of the purchase price for the properties at Cascadas de Calahonda and sending potential clients a spreadsheet with real figures for the investment, has not only defaulted on the contract but also has ignored systematically the requests to arrange a meeting with the lawyers and the victim of this incident
