Created in Saint-Martin in December 2018, Solid'om is a device allowing owner-occupiers of the French side to renovate their property with the financial contribution of private investors wishing to benefit from a tax reduction.
A subsidiary of Ilom (Innovation Logement Outre-mer), an association already established in Martinique, Guadeloupe and Guyana, Solid'om is governed by the LODEOM law (law for the economic development of overseas territories). Le Manteau is the social housing organization that will enable the project to be set up in St Martin.
The device is aimed at people who have owned their house (and land) for more than twenty years, who have finished repaying their mortgage, limited income and renovation (or development work: elderly or in situation handicap) to achieve.
"I'm going to the field. I visit the house. We update the owners on their requests and check if they meet the criteria. Then we put together a file that we send to Ilom ”explains Yann Hodge, the director of Solid'om.
Once the file is validated, a real estate expert assesses the value of the house and the land. The amount of work to be done can go up to almost 50% of the value of the house.
The owners will have to temporarily transfer their property to an SCI of which they will be part. This SCI will include private investors, found by Ilom, who will finance the work carried out by local certified craftsmen. All supervised by the notaries of Saint-Martin.
For five years, the owners will have to pay a symbolic rent of 50 euros per month to the SCI, through the intermediary of the Coat which will manage it. After five years, the owners will regain full ownership of their property, now renovated, for a symbolic euro.
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