Many homeowners in France choose to let their property partly of the year when not used by themselves. Renting out your property can be a good way to cover the costs of running the property and keeping it well-maintained.
We usually tell our clients that a property is comparable to a car, meaning that it needs to be used in order to function properly. Whether you are already an owner of a property in France or if you’re thinking of buying a property in France and rent out from time to time, it’s important with proper research so you’ll find the right property. Below further information that we believe is good to know when it comes to letting your property in the south of France.
When buying a property that is meant to be let out, it is important to understand the holidaymakers’ needs and what they are searching for. We believe there are people looking for all kinds of properties and holiday homes, but it is important for you as an owner or future owner to know what to expect.
If you’re investing in a property in the south of France to provide a healthy return on investment make sure you do your research and find out what the local rental market is like. This is something your broker and real estate agent can advise you with. Sometimes it’s also good to have real examples from properties renting out today and what they achieve in return if your broker has those figures.
South of France is highly sought after by people from all over the world and there is demand all year round. When renting seasonally it is important to get a good understanding of the different prices for each season and of course, treat your guests like you live there yourself! Happy tenants are the best recipe for further bookings which also tends to return next year.
As you probably will rent your property when not used by yourself, you will then need someone to manage the seasonal rental and property during that period of time. We at Marks Real Estate for example, like other agencies as well, help property owners with their seasonal rentals.
This includes marketing the property and advising the owners on how to make the property as attractive as possible for holidaymakers. Depending on what you as the owner are looking to achieve and how much you want to let out of your home, different approaches might be taken. For some of our clients, privacy is extremely important and therefore we have a different approach to marketing and to reach clients. Another factor is the duration of the rentals, for example daily, weekly, or monthly.
We will guide you through the different steps to get your property ready for a seasonal rental and together with you, set out a plan for bookings and pricing.
If you choose to rent out your property in the south of France you must inform your local Mairie (town hall). You will also need to apply for a ‘non-professional Siret number’, which proves you are properly registered as having a rental property. This can be done easily enough at the local tax office. You must also declare your rental income from the property with the tax authority and pay any taxes owed.
There are also guidelines you need to follow in terms of security when letting your property. For example, proper safety procedures if fire would occur and pool alarm or barriers.
Make sure that your property in the south of France is properly insured as a holiday home as opposed to a standard building and contents policy. Does the policy cover public liability insurance? Are you covered for when your property is not occupied? Does it cover you for loss of rent or income?
Standard home insurance policies are usually geared up for main residences and are not necessarily fit for purpose for a seasonal rental property. For instance, standard home insurance policies are usually only valid if the property is not unoccupied for more than 30 days a year, which may not be the case. So, make sure the policy meets your full requirements.