Author: The ESREA France Team

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French Property Syndics Threatens to Increase Rates 20 percent

French property management companies called ‘syndics’ are suggesting they will increase their cost to clients (French property owners) by up to 20 percent in response to the new requirements outlined by the government of France in the new French housing act ‘Loi Alur’.

The increase in fees is said to be in response to the extra responsibilities given to syndics as part of the application of the new loi (French for law)

But not all Syndics claim the application of the new Loi Alur will be so expensive, Nexity that managers over 18000 co-properties in France says that the cost to each owner will be less than one euro and abiding by the new regulations it is not as high as some of the other large syndics are implying.

Read the source article in French here in Le Figaro

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The Luxury French Version of AIR BNB

If you are looking for a luxury French property to rent perhaps Airbnb is not for you and the developers of a new service called The Collectionist are hoping you will contact them to rent a luxury French property.

Airbnb founded in 2008 has become globally recognized as a community marketplace for people to list, discover and book accommodation around the world. The Founders of The Collectionist are hoping that their focus on simply high end rentals will be a niche within the marketplace Airbnb had exploited.

The Collectionist is a new company founded in 2013. There defining difference appears to be that they offer a personal concierge to assist you in the full service experience of their rental properties. Cooks and cleaning staff can also be included in the rental service.

Check out Airbnb here and The Collectionist here.

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French Real Estate Land Prices on Atlantic Coast

The price of French real estate land has fallen almost 14 percent on the Atlantic coast of France over the last five years, according to Insee. This in part explains why there is a radical increase in secondary homes on the west coast of France.

Visit this 2014 article in Explorimmo.

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How to Create a Complete French Renting Application

When you wish to rent French real estate directly from the French property owner or via an French real estate agency you are recommended to prepare a complete renting application ahead of time according to Explorimmo.

Here are some tips: 

One
Prepare Ahead
Before you go to visit a French property have your application file ready just in case the French property is the right one for you. Do not wait to prepare your application after the visit or you will be waiting behind more prepared applicants and most likely lose out.

Two
Make it Memorable and Easy to Review
If you are giving a paper copy of your application then put it all inside a colored folder to bring attention to your application and make it ‘stand out’. If you are sending it by email make it into a PDF so it is easy for the reviewer to check all the documents on any type of computer they are using.

Learn more about renting in France with our French real estate renter’s guide details here

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What is the lowest French mortgage interest rate?

The lowest French mortgage interest rate you will received always depends on many factors including the length of the term and also apparently as to where the property is located.

In April 2014, according to an article in Explorimmo, the French mortgage broker Meilleurtaux.com offered its lowest 20 year French mortgage rate in Nantes.

The rate in Nantes was 2.65 percent for 20 years compared to the rate of 2.85 percent for 20 years offered in January 2014.

These low interest rates have made the banks very careful as to who they are loaning money to so you need to make sure you qualify in every way to received these history low mortgage rates.

Contact us if you would like to connect with an English speaking French mortgage broker. . Contact us here.

Original article in French here

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