Real estate: Cem reminds us of regulations

In a press release, the Chambre économique multiprofessionnelle (Cem) wishes to "draw the attention of professionals, institutional partners and the general public to the need for strict compliance with the legal obligations governing the exercise of real estate activities in the Collectivité".ccessité de respecter strictement les obligations légales encadrants l'exercice des activités immobilières sur le territoire de la Collectivité". The Chamber writes: "For several months now, the Cem has been observing the emergence and development of activities carried out by certain players in the field of seasonal villa rentals, without holding the professional card required by current legislation. In accordance with the provisions of law no. 70-9 of January 2, 1970, known as the Hoguet law, and its implementing decree, any person or entity who habitually engages in, or lends his or her assistance to, transactions involving the sale or rental of property, or the sale or rental of a property, is liable to prosecution.property is required to hold a professional card issued by the Cem. This requirement guarantees that the professional has the necessary skills, appropriate professional liability insurance and a financial guarantee to secure the funds entrusted to him or her. "
In addition, the Cem states: "Villa managers who are involved in rental management on behalf of owners - particularly when they have a power of attorney or mandate allowing them to access customers' bank accounts, collect rents or manage the property - are required to have a professional liability insurance policy.They are legally required to hold a "Gestion immobilière" (property management) professional license. The Collectivité wishes to point out that this activity is strictly regulated, and that no exemption is provided for villa managers. "
The Chamber also points out that it is a criminal offence to engage in real estate activities without holding a professional license. It points out that the law provides for penalties of up to six months' imprisonment and a 7,500 euro fine, as well as additional measures such as disqualification. The Cem also points out that these provisions apply in full to the territory of Saint-Barthélemy, and that any reports or observations may be forwarded "to the competent authorities".
In conclusion: "Cem reaffirms its determination to support a healthy professional ecosystem that respects the rules and guarantees fair competition between economic players. It calls on all real estate operators to comply with the rules when they do not have the necessary authorizations. Owners, managers and agencies are invited to systematically check that all operators hold a professional license. Cem remains available for any checks or requests for information on legal obligations or procedures for obtaining such cards. "