Are you planning to let your apartment for several consecutive days or weeks, and you want to make sure that everything is legally fine?
As you might know, STUDIOS PARIS apartments, has decided to lessen this kind of rentals, we explain you the reasons in this article.
Short-term rentals seem to be more interesting in terms of profit, but you must be careful as short-term rentals also mean lots of expenses, such as cleaning fees, laundry, concierge services, check-in/out, electricity and heating bills, not to mention the building charges that run on the landlord’s account. In France the “taxe d’habitation” is also paid by the landlord along with the “taxe fonciere” for this kind of rentals.
In total we could estimate that all these expenses, could go up to 7000€ per year for a 30 sqm apartment.
On the other hand, when you decide to let your apartment for long-term rentals, the “6 juillet 1989” law, stipulates that the landlord can bill the tenant for water, electricity, heating and even a part of the building charges such as the elevator fees. The tenant shall also pay the “taxe d’habitation” or the city garbage fees, the sum of all this expenses could be around 4000€ per year for the same apartment.
Long-term rentals also have an advantage in terms of taxes for the renovation works and repairs, the landlord can actually deduct them which is not the same case for the vacation rentals.
Find here some rules to keep in mind for better understanding the current law that applies to Paris rentals since 2018.
- Airbnb is far away from ceasing the legal battle against the hotel industry in France for unfair competition allegations. The well known startup has even been accused for reducing the housing stock of the principal cities in the country, many of them decided to adopt legal measures in order to restraint the short-term rentals.
- In order to rent your apartment in France for short-term rentals, you must first declare your property as a touristic furnished rental, if this is not your principal residence. Once that you have done this, you will be given an ID number which must appear on all the announces that you run, if you don’t do it, heavy fines could apply.
- Legally, you have the obligation to declare all of your rentals, when you get the yearly taxes form, you need to make sure that you mark the “location saisonniere” box.
Keep in mind that you must assume responsibility for:
- Renting your apartment means that you will need to manage your rentals avoiding lettings for more people than beds available in the property.
- You will need to set a reasonable price for your offer.
- Always be available for lending the keys to your guests or find someone who can do it for you.
- The apartment must always be cleaned before your guest’s arrival, and it must be in order with all the legal equipment standards such as smoke detectors.
- Photos should be taken by a professional photograph in order to get the best of your apartment, and get the max of guests per month, also if possible, a virtual visit is recommended.
If after reading all of these insights that we share with you, you still decide that you want to rent your apartment for a few months only, (120 days /year. maximum), feel free to contact us, we will help you do it the best way so you can have serenity and peace of mind during all the rental period.
We will guide you through all the legal procedures that you need to do.
+33 1 42 59 43 05