When you own a furnished apartment in Paris, finding a tenant and renting out your accommodation is not the easiest thing. The rental management of your apartment will play a major role in the success of your real estate project.
Is it a profitable solution to entrust the management of your apartment to a professional agency?
What could an agency specialized in rental management do for you?
These questions are completely legitimate, and if you are reading this article, it is probably because you’re hesitating between managing your apartment on your own, or entrusting it to a rental management specialist.
Without trying to convince you at all costs, we will try to show you that beyond the fact that it will cost you money, there will be numerous benefits for you!
Entrusting the management to a professional often happens to be the best solution, as the regulations related to localization are always changing and evolving.
Of course, managing your property alone can initially be attractive as it is synonymous with savings and better rental yield, but it also represents a part of stress and many different tasks that can quickly become time-consuming.
Rental management = time saving
We all know this famous adage saying that time is money. And in fact, renting an apartment often represents a fairly heavy workload, which people often overlook when they want to manage the rental of their property themselves.
First of all, before you even start looking for your future tenant, you first need to think about taking pictures of your apartment, writing a convincing ad, carrying out the inventory, etc… Only after all this can you start your tenant search.
Then, you will have to manage all the phone calls that you will receive, as well as the viewings and administrative formalities! On the opposite, a management agency can take care of all these steps for you.
Renting your apartment with an agency means being in compliance with the laws in force
Not everyone necessarily wants to immerse themselves in the rules of civil and commercial real estate law, to learn accounting or taxation, or especially to keep abreast of the legislative developments.
Gathering all the mandatory diagnoses and giving them to your future tenant when they enter the premises can be very time-consuming, since you must find a professional to perform all the diagnoses in question.
A rental management specialist can make this task easier for you.
For more information on the list of mandatory diagnostics, we invite you to consult our article on the subject.
Opting for rental management means having a team entirely dedicated to renting your apartment
Our human-scale rental agency will ensure responsiveness and efficiency, since you will, as the owner, have to deal with only a few interlocutors.
Rental management does not stop when the tenant moves in, on the contrary!
Once the person is settled in, you will have to take care of a multitude of tasks such as rent reminders, issuing receipts, minor repairs, etc.
Entrusting your apartment with a management agency then makes a lot of sense, as your manager will be able to intervene quickly, thus ensuring a smooth running of the rental.
Renting your apartment through an agency also means making the most of your apartment
As the owner of a furnished apartment in Paris, you have to keep in mind that you are fortunate enough to get a significant demand for furnished rentals. Therefore, you will have twice the chance of maximizing the profitability of your property.
Your rental management expert being a specialist in the Parisian furnished rental market, he will help you set the right rent amount.
It is never easy for an owner or lessor to optimally estimate the rent for his apartment.
Your management agency, thanks to its excellent knowledge of the local market, will help you take into account all the criteria to best determine the amount of rent.
NB: The ELAN law from 2018 reinstated the rental control mechanism in Paris. For more information on the subject, do not hesitate to consult our post about the rental control rules in Paris.
By entrusting the management of your apartment to an agency, you no longer have to manage each entry and exit. The management agency to which you’ll entrust your apartment’s management will take care of welcoming your new tenant on your behalf.
On average, an inventory takes 45 minutes for a studio, and approximately the double for a 2-bedroom apartment.
To sum up, entrusting the management of your apartment will mean for you:
- Saving some precious time;
- Being certain that your contracts are in compliance with the laws in force;
- Having a dedicated team to manage your apartment;
- Maximizing the profitability of your property;
- Minimizing the rental vacancy
