Are you a property owner in Paris? If so, then you likely know that rent regulations in the city are complex and ever-changing. In this blog post, we'll provide an overview of Paris' rent regulations, including new regulations that were introduced in 2020. We'll discuss how rent regulations can affect property owners, and provide tips and advice on how to navigate the city's rules. With this information, you'll be better prepared to manage your property and maximize your investment.
Paris is home to thousands of locals, ex-pats, students, and visitors. UpperKey explains why living in Paris is worth it and what people consider the top reasons to rent out your apartment. The extensive Paris Metro means that finding a tenant shouldn't be difficult. Tenants can easily get there using the Metro, which is the fastest and cheapest way to travel throughout Paris. The strong economy and excellent work-life balance mean more people are considering moving to live and work in Paris.
Whether you're renting out the property on a long-term or short-term basis is key. Long-term renting is ideal if you want a regular income with less property management work involved. Paris apartment rental agencies such as the UpperKey may be an ideal choice for you. What Tenants Look for in a Paris Apartment will depend on whether you are renting on a short- or long-term basis. A short-term apartment should be fully furnished and provide guests with everything that they need for a comfortable stay. Check out a home rental service Paris like the UpperKey to learn more.
The management of a property requires time and management costs. If you live far from your main residence, it can be difficult to manage a large property portfolio for seasonal rentals. Consult an agency specialized in rental management in Paris or hire a concierge service instead. UpperKey wilol take care of all the administatives for you. Whether you are in Paris or in another city, you will have a customer service.
The price defined from the start will be respected and the rental vacancy will be minimal. And you do not have to fear unpaid rents, which is an undeniable advantage. If you are looking for a short-term rental in Paris, don't hesitate to contact UpperKey.
Rent control in Paris is not the same as rent control in other cities. The agglomeration of Paris belongs to the tense zone. Rent for a furnished rental must take into consideration a new rule, because the rent for that accommodation will be determined according to the limit of an increased reference rent. The reference rent in Paris is established according to 80 districts. Each district has its own reference per square meter per month.
The monthly rent is calculated by multiplying the reference rent increased by the number of square meters of living space. But it is important to know that the calculation only concerns the rent. A concierge service is a good option if you are looking for a seasonal rental in Paris. A list of criteria that prevent you from requesting a rent supplement includes signs of moisture, poor insulation and carpentry with poor insulation. The rules of the Airbnb platform apply to all rentals signed since August 18, 2022.
The rules for renting in Paris are very strict. To avoid entering a market that you do not control, delegate the rental management to a concierge company like UpperKey. The latter will be happy to manage the entire management, by writing the ad, managing contacts and being vigilant on the maintenance.
In 2019 Paris introduced a law to fight with growing rent prices. The rent will be set according to the following double limit:. First, the rent that was applied for the previous tenant. Then, the increased reference rent. This is established per square meter of living space and of course per month.
The Île-de-France prefecture has published an interactive map showing the increased reference rents for Paris properties. The references are established in a precise manner, not according to the Parisian districts, but in relation to specific neighborhoods. Each year the reference price changes, so make sure to follow the most recent updates. It is impossible to exceed a specific rent amount. However, you may be granted a rent supplement if your property has exceptional characteristics.
A specialised agency can help you determine your rent and maximize your income. UpperKey will help you with the necessary calculations in the most correct way.
An estimation of rent will help you know your potential revenue in Paris. According to seloger.com, the lowest rental price in Paris is 28 € per square meter. On average, however, you should expect to pay around €32 per sq meter for a rental property. Learning how to make a rental estimate is absolutely essential. If the rental price is not in line with the market, you may find it very difficult to find a tenant.
UpperKey is a recognized agency for property management in Paris and in many other French cities. Using a rent simulator, you can get your income in a regular way, without worrying about your tenant. The agency takes care of everything, i.e., estimating the amount of rent, while taking into consideration the Paris region's rent framework. These are public data that have been directly extracted from real estate ads. Rent control is a system that has been put in place by the government to define a maximum value per square meter. The rent control is then defined according to the geographical area in which the property is located, its date of construction, type of rental and the number of rooms.
After Covid the Paris rent control had to adapt to the new clientele. Rents are set each year before the summer, depending on type of accommodation (empty or furnished) and number of rooms. However, it is possible to agree on a rent supplement, in addition to the base rent. If it is your property, you may naturally tend to overestimate its price. An initial rental estimate is absolutely essential by taking note of the market prices.
You can use online tools or do your own research in order to estimate your rent. But be realistic and compare similar properties in terms of size and services. UpperKey is a property management agency in Paris and many other French cities. Estimate furnished or unfurnished rent can seem like a real headache when you're not in the business. Agency takes care of everything, i.e. the estimation of the rent amount, while taking into account the rent framework of the Paris region.
The amount of the rental fee is set according to the tenant's rented accommodation costs. The fees are calculated on the fee accounts transmitted by the trustee after validation of the accounting at the condominium meeting. Owners receive their account from the trustee at the end of the year, with the amount of recoverable tenant.
Paris is often listed as one of the top cities to invest in property. Property managers can provide a wide range of services including finding tenants and repairs and maintenance. There are lots of reasons to consider also investing in the services of a property manager, especially if you are living outside of France. Working with a Parisian property can help property owners minimize tenant issues. Working with a property management company that is familiar with the laws surrounding the French rental market will help you avoid errors that could prove to be costly over time or even land you in legal trouble.
Figuring out how much to charge in rent can often be difficult, especially if you are not familiar with the local rental market. A professional property manager can act as a 'buffer' between the landlord and the tenants. They will also collect rent payments on time each month, chase missed payments, and handle evictions if needed. Tenants are more likely to stay in your rental property if you offer good maintenance. Maintaining and increasing the value of your property is key to keeping tenants happy.
Hiring a property manager can reduce repair and maintenance costs as well as help you access discounts. UpperKey is the leading property management company in Paris for short term rentals. They offer comprehensive Airbnb concierge Paris services and guaranteed monthy rental income for property owners. The company can handle all of the most stressful aspects of managing a rental property on your behalf.
GLI is an acronym used for Garantie des loyers impayés. It is an insurance policy that landlords take out to protect themselves against unpaid rent. In France, rent guarantees are mandatory for all new leases signed after 1 July 2009. The GLI can also cover damage caused by negligence or force majeure events. Under French law, all landlords must take out tenant insurance to cover the risk of unpaid rent.
There are many different options on the market, so it can be difficult to choose the right one for you. Some policies will cover legal costs while others will only cover damage to your property. You need to decide whether you want a policy that covers all tenants or just one tenant. Make sure you read the fine print to understand what each policy does and does not cover. Rental insurance generally provides cover for unpaid rent and for rental risks (water damage, fire, etc.).
The guarantee for unpaid rent has been compulsory in France since 1989. This insurance covers the risk of non-payment of rent by the tenant and allows the landlord to continue to receive the rent, even if the tenant defaults. The guarantee can be covered with a deposit made by the renter.
UpperKey provides the complete management and rental service for Paris properties. We are committed to providing clients with an exceptional level of assistance and return. The market remains stable despite the global financial crisis and domestic policy changes, simply because its demand for property is far greater than the supply. A three-bedroom apartment in the city centre will achieve an average rent of around £3.2k/month. At the time of writing, Paris's three-bed apartment rentals ranged from £2.9k to £4.8kper month.
The arrondissements are arranged in a spiral from the centre outwards, in clockwise direction. At the centre is the Louvre, where the numbering system begins. The premium locations are those nearest to the delights and attractions Paris has to offer. Bourse is home to the Paris stock exchange and major banking headquarters. The Latin Quarter of Panthéon, Sorbonne and St-Michel is full of charming bookshops and bistros.
Champs-Élysées is home to France's most famous shopping street. Batignolles is popular with young families for its parks, cafés, bistros and markets. Montmartre offers up homes with gardens, and picturesque staircases that lead to town hall. UpperKey offers one of the most competitive guaranteed rent programmes in Paris. Tax revenue for tourism in Paris is €83million, with a substantial €3.7billion generated by hotels.
Our guaranteed property rental plans are working for apartment owners throughout France's capital. Read testimonials to find out how they're working out for you.