When you invest in French rental real estate there are many things you need to consider.
Here are seven:
One
Know your Purpose
Are you investing to generate income for your retirement?
Are you investing to have a French property to give to your children?
You need to decide on your purpose and then find out the tax consequences of your goal as a starting point.
Two
Know the Location
Make sure you know that the location you are investing in is an area with long term rental demand.
Consult government rental statistics.
Three
Know the Right Property
Make sure you don’t just pick a property because it is cheap. Make sure the property has features that make it desirable to rent.
Four
Know the Right Rent
Once you have chosen the appropriate property you need to make sure that the rent you can charge matches your goals before you buy the property!
So before buying consult a real estate rental professional for advise and consult government reports.
Five
Know the Rules of Renting
Make sure you know the rules relating to how you treat renters and how you can protect yourself again non-payment of rent.
Six
Know the Costs of being an Investor
Make sure you account for all the costs in the maintenance of your investment property. Including all types of taxes, monthly charges, repairs etc.
Seven
Know your Sale Price
It is very difficult to anticipate how the market will be when you sell your rental property. However, it is important that you invest in a quality product so that when the day comes to sell, if you need to, you can easily sell your French investment property at a profit.
For more advice on French real estate in your area of choice we can help you contact an English speaking French real estate agent. Contact us here today.