Loi Alur Benefits for Renter of French Real Estate Benefit Number Two

In the new French housing act this year one of the key measures is the restriction on the amount of rents in particular areas. These particular areas, for example areas of Paris, will be defined in law.

According to David Rodrigues, jurist at Association nationale de défense des consommateurs et usagers, soon due to changes in the French housing law (Loi Alur) rents will be set in these defined areas and the rents may not be exceeded.

However, if the property has outstanding features (to be defined) the property may be able to be rented at a higher rate than indicated in the rules.

We all wait to see how this starts to take impact on the market place in the coming years.

Date of article 2014

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Loi Alur Benefits for Renter of French Real Estate Benefit Number One

When you rent French real estate at this time it is customary that the renter pays the real estate agent the equivalent of one or two months rent for the services offered.

According to David Rodrigues, jurist at Association nationale de défense des consommateurs et usagers, soon due to changes in the French housing law (Loi Alur) French real estate agents, will now charge a fee calculated on the square meter size of the property and this amount will vary by region in France.

This could lead to a substantial reduction for some renters, however, it depends on the area you live in since sometimes this new calculation can end up that your are paying more than in the old system.

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Speracedes French Riviera New Apartments Luxury Renovation of Old Olive Mill Moulin

New Build Speracedes French Riviera

French real estate offer some marvellous gems, one hidden gem we just found out about from a local English speaking French agent is the luxury renovation of an 18th century olive mill in the provincial village of Speracedes click for map

Speracedes is a small village in a land of orange trees, olives, lavender and many more fragrances. The old mill that is being converted into luxury apartments is just a few minutes walk from the center of the village and yet, in a quiet location. You can walk from your new piece of paradise to shops and cafes and even the local church or you can rest outside your apartment by the private swimming pool.

The new renovation is designed to maintain the charm of the ancient and blend it with modern high end finishing. There are small apartments and very large apartments each of which takes advantage of the south exposure towards the sea with it terrasse space.
See architects rendering above..

 

Located away from the ultra busy French Rivera coast Speracedes is only a short drive to the famous cities of Grasse and Cannes.

Find out about the 9 apartments available for sale now with one of the local English speaking real estate agents we are connected to with in the area who have visited the location of the mill. Garages, equipped kitchens, and cellars are all available. Starting price at this time is 220 000 Euros. (2014)

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June 2014 French Real Estate Mortgage NEWS read this

French real estate just got cheaper and this is not because of falling prices this is because the mortgage rates granted to individual French real estate property buyers is now the lowest in the last 40 years.

According to the French Credit Observatory (l’Observatoire Crédit Logement – CSA) in their press release on June 2nd if you are an individual buying a house in France on the average you can get credit for 16.8 years for only 2.85 percent!

The number of French property buyers making applications for loans is growing but this does not mean everyone is getting approved.

The banks are getting even more cautious on their loaning of money to make sure they are not taking to high a risk with such a low return.

The estimate is that rates on mortgage loans will start to increase before September this year.

Contact an English speaking French mortgage broker and get an update on your financial buying power. To find a mortgage broker contact us here.

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How to Make Your French Rental Property Get Rented More Often

Many French property owners rent their properties during the ‘hot rental’ periods in France. The French owners who rent their property can make a nice income from doing this but there are so many advertisers it can be really difficult to get your property to stand out from all the others available.

Use the following tips to get your French rental property rented out more.

One
Offer a large selections of quality photos, invest in a professional photographer. You can use the photos year after year unless there is a big change in your property. Avoid using images that do not wow! the viewer. Make sure you choose the inviting photos. No need to show a picture of the toilet.

Two
Write quality descriptive that gets the reader emotional and excited to rent your property. Do not just write ‘beach close by’ , write (if it is true) ‘relax on the sandy beach and dip your feet in the deep blue mediterranean sea only five minutes gently walk from the property’. Do not just write ‘large terrasse’ write ‘Enjoy your evening watching the sun set on the mountain with your favourite…” Do not write ‘bakery close by’ write ‘stroll to the local bakery to buy fresh bread for your relaxing morning meal’.

Three
Offer price driven discounts if you want to book your property in advance of the season before owners enter their property onto the renting market. Renters are very price conscious and now more than ever like to plan ahead.

Four
Make sure you have a booking system that inspires confidence in the renter because they feel confident in the security of your booking system.

Remember renting your holiday home is a business and takes time and energy if you want to make it a profitable business. You also need to check the legal guidelines surrounding renting your property in France. There are restrictions. You may decide it is better for you to engage a professional property renter to manage your rentals while you are somewhere else in the country or world. It can be way less stressful.

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