Difficult business

In general leasing companies while conclude very few transactions with real estate. In past to year their share has made no more than 4 %. Here stirs a lot of problems: not settled question with registration of contracts of leasing of real estate, an interdiction on delivery in financial rent grounds legalized with infringements papers (especially it concerns old buildings) and desire of a greater part of sellers to lead transaction with "recoil". " majority of objects of real estate has ridiculous balance cost ", - general director of firm " Avant guarde-leasing " Alexander Kozhevnikov speaks. Accordingly, proprietor is not interested on legal sale of a premise as it should pay to state almost half of its cost in form of taxes. According to Alexander Kozhevnikova, seller avoids this so unprofitable succession of events, realizing real estate for cash or under any other scheme, is usual too not absolutely legal. Leasing company can get areas only through sale and purchase under real price, all other ways for it are simply inapplicable. " Seven from ten transactions on leasing real estate are not realized because of impossibility to lead it "in a white way" from seller, - Alexander Kozhevnikov tells. - Confused ball of contradictions consisting of inconsistency of legislation, historically collected problems by ground and interests of local administrations which far simplification of similar transactions not always is favourable, is formed around almost each object of real estate ".
Any buyer is compelled to go for compromise, getting this or that area as always there is a risk to not register transaction or to receive real estate with problems. According to sales manager of group of companies " Urallizing " Anastasii Rotar to issue "pure" office at a stage of construction in leasing too will not leave: in financial rent object of real estate which was already put into operation can be transferred only. Leasing investments at a stage of construction are illegal.
Besides desired property right to a building which insures leasing company against defaulters, in transactions with objects of real estate appears only after state registration of transaction. matter is that separate laws on leasing immovable objects are not present, and such transactions are registered as usual rent. And here conflict turns out. concept of financial rent of law on leasing provides, that contract of leasing, and then - as its consequence - contract of sale and purchase between seller and leasing company all over again consists. In rent ( Civil code) all on contrary: first buy a building, then lease. Such contradiction confuses officials, they can easily give up to firm in registration of contract of leasing of real estate, and it allows sneaks quite tangible opportunity "to press" business of owner of leasing and its client, having recognized transaction void. Here operators of financial rent and sale and purchase, and leasing of a building simultaneously also register. But such number passes in managements of Federal registration service "prepared" for it. assistant to sales manager of company " Baltic leasing " Evgenie Kolesov recognizes, that because of legislative contradiction various treatment of conditions of registration of contracts of leasing by bodies of state registration in various subjects of Russian Federation is possible. With a personal estate all is easier: there is no duty of registration - there are no problems. And difficulties with registration - yet end of travel of owners of leasing. Evgenie Kolesov reminds, that, except for property, leasing company should issue this real estate in favour of financing bank for reception of credit. Each operation demands time, and sellers of real estate are not always ready to wait so long term and to depend on actions of third parties. " Real output for leasing firms - to finance transactions on own account with subsequent compensation of means through bank ", - Evgenie Kolesov considers. But such scheme is presumed only by largest operators of market having enough of own money. privilege of big business For many companies in large cities of Russia financial rent is unique chance to receive real estate. First of all it concerns representatives of average and small business. Experts mark, that those owners of leasing who will put work with representatives of small and average business on a stream, will earn fabulous money. However these assumptions while can be carried to area of sweet dreams about future of financial rent. " Leasing of real estate is interesting first of all on expensive and large objects, - explains Anastas Rotar. - Nobody will want to contact such transaction because of, we shall admit, office area of 20 square meters ". Only few enterprises of small and average business are ready to take even in financial rent huge and dear offices. Besides business of businessmen of this group is often astable, and it compels leasing company to compensate risk of work with them, concentrating attention on a subject of transaction. It should be liquid, that is quickly sold without special losses. real estate does not concern to such subjects. To small businessmen while to use leasing of real estate in general it is almost senseless. With them can play a bad joke of VAT. All leasing payments are assessed with this tax, its majority of representatives of small business cannot compensate due to suppliers as are on simplified system of taxation. transaction of financial rent becomes more dear to small businessmen exactly for sum of VAT, and these are 18 % from cost of contract. Besides according to Evgenie Kolesov, small enterprises wish to get real estate which is being property of physical persons, and into its price of VAT too does not enter. Leasing company under law adds to cost of real estate of 18 % and thus puts transaction for a side of efficiency. Business will burn out Despite of all difficulties, owners of leasing persistently continue to master a segment of financial rent of real estate. matter is that leasing of commercial areas - a gold vein.
" It is one of most interesting and perspective markets, - Alexander Kozhevnikov assures. - its capital intensity is huge, is estimated tens billions dollars at current volume in some tens millions ". Leasing is more dear than credit, however it entitles legally to save on payments in budget ( profit tax and on property). And as a result building got through financial rent, can manage on 15 - 20 % more cheaply, than bought by means of credit which does not assume such tax payments. But also it yet all: despite of complexity of registration, leasing transaction, unlike direct purchase, enables by installments to pay VAT (18 %) from cost of a building. This tax at price of immovable object, for example in $700 000, makes a round sum, namely $126 000. Whereas at use of financial rent of VAT it is possible to pay parts in structure of leasing payments. Alexander Kozhevnikov is assured, that years through five when all other segments will settle themselves, leasing of real estate will show good results. " Despite of its complexity, and can, and owing to it companies which have fixed in market of financial rent of commercial areas, will provide to itself good future ", - expert predicts.
According to general director "LEASING" Grigory Primak, " in immediate prospects this segment of leasing market expects prompt growth. Leasing of real estate is interesting to companies, first of all to that demand for commercial real estate grows year from a year. Besides from point of view of business it is incorrect to direct turnaround company's resources on investment purposes. Thus purchase of real estate in leasing allows small and average business to develop more quickly, not spending means for payment of all sum ". With it director of Department of regional development of Open Society Peter Vanjukov agrees. "Basic hopes of owners of leasing are connected with a growing potential demand for commercial premises in leasing ".




  Source: Info Cash Loan (22.12.2006)