Renting your new Paris property

Apartment owned and decorated by Christiana Konstantinou
One of the first things to decide is whether you are aiming for long-term or holiday short term rentals.

As Paris is the most popular tourist destination on the planet, it can be suitable for short term rental but location is crucially important. Go for properties within shooting distance of the major attractions, basically, arrondissiment's 1 thru 8. I have my own particular preferences (based on most requested by rental clients!) which top the rest (the Marais, St Germain/Luxembourg Gardens and Montorgueill and Palais-Royal/Louvre areas). Take my advice and avoid the over-priced 8th (Champs Elyseés) and difficult to access Montmartre.

Longer-term lets depend more on the state of the local economy all year round and on jobs and facilities than monuments and centrality. I find that access to the best Métro lines and a quartier that is pleasant to live in with open-air markets with a selection of quality restaurants, cinemas and bars (see I V Y paris for ideas) often attracts business people, academics and MBA students who make up the bulk of our longer term client base. They may work late and would like to have a drink or later supper after the office or library.

It's possible to combine holiday rentals with longer term lets in the off-season. A wide range of properties can be suitable for these longer lets. With a little planning it's possible to achieve very high occupancy rates with this method.

Another important consideration is the standard of accommodation you are going to offer your tenants. For top-dollar, luxury vacation rentals, king-size beds and air-conditioning are a must. Figure multiple bathrooms and good quality kitchens into the equation and for this you'll need to renovate 99% of Parisian apartments to achieve a good enough standard so remember to budget for it.

It goes without saying that all apartments must have high-speed internet access, cable tv and a cheap call plan for phoning overseas (packages including all three can cost the owner as little as 30 euros per month). Dishwashers and washing machines (remember a dryer too, Americans will squeal otherwise) are taken for granted.

A definite no-no would be letting your property out long-term and unfurnished. It's a waste of money because you'll only be able to charge a fraction of what could be achieved catering to the cosmopolitan, international crowd attracted to Paris who need the added convenience of the furnished rental and are practically guaranteed to leave after a certain time (the longer term rental lease is a maximum of one year but extendable by tacit agreement). Renting unfurnished and being less picky with your tenants could be asking for trouble.

Comments

[renee Igoe]

Hello,

We spoke a few weeks ago. My niece is going to live in Paris for 6 months. She is arriving on the 10th of Jan. 2008. We have been looking to try and find her a place to live with a roommate or with a french family in PAris. She will be attending PArsons which is located in the 15th arr. She is a female 21 years of age. If you know of anything, or can help us please kindly let me know.

Thank you
Best regards,
Renee

[susie hollands]

Dear Renee, We will be happy to help you with an apartment search but we don't organise home placeùment or roomshare. I will send you the details we need by email.