The optimization of the profitability of your apartment goes through several steps, whether it is through the choice of your tax status, the decoration of your apartment or the relationship with your tenant.
This article was conceived to allow you to understand it better.
Offer a modern and well equipped apartment
Offering for rent a modern apartment that meets the expectations of the present time will allow you to position your apartment at the top of the rental market.
The goal is of course to “stand out” and have an attractive property.
Your apartment should also be well equipped (oven, microwave, washing machine, dryer, dishwasher, flat screen TV, etc.) in order to appeal to the widest possible clientele.
An international clientele will pay particular attention to the general quality of the apartment, hence the importance of leaving nothing to chance.
Of course, the more qualitative the apartment, the more necessary the presence of these facilities is. That said, some are indispensable, such as the refrigerator and washing machine.
Offering an apartment with modern furniture will also allow you to benefit from advantageous rents.
If you would like information and advice on furnishing and decorating your apartment, please see our article: Renovation and furnishing: what are the steps to follow.
Choose your tax status
Furnished rentals are subject to a particular tax status.
It is necessary to declare your rental income in the category of BIC (Bénéfices Industriels et Commerciaux, in english Industrial and Commercial Profits) and not in the category of property income.
To put it simply, when you rent your apartment as a furnished apartment you are considered as a company: you are therefore subject to the same obligations as companies.
We strongly advise the owner to consult an accounting firm specialized in furnished rentals in order to avoid making mistakes before renting the apartment.
For more information on this subject, do not hesitate to consult our article: … ?
Make your apartment attractive
In order to optimize the profitability of your apartment, it will be necessary to rent your apartment quickly and to limit the vacant periods.
To do this, it will be important to be aware of the competition and thus of what is already proposed on the market.
The first selection of potential tenants will be done through visuals, it will be necessary to propose a decoration that is sober and that will be able to please the greatest number.
Carrying out different renovations will allow you to stand out from the crowd and differentiate yourself from the competition.
These different points will require you to adapt your rent according to the attractiveness of your property.
For more information on how to renovate and decorate your apartment, please refer again to our article on renovation and furnishing.
Discussing with the tenant once they have moved in
To avoid frequent changes of tenants, it is important to listen to their needs.
To do this, it will be important to communicate with the tenant and to be there if there are any problems.
Even if some tenants may be reluctant to maintain contact with their landlord, there will always be reasons that will push them to contact you.
An electrical problem, a neighbor problem or even simple questions about the use of appliances are reasons why your tenant will contact you.
A landlord who is not responsive to his tenant’s requests may be a reason for the tenant not to stay in the apartment.
Fixing a rent according to the apartment
The rent amount will be an important point to take into account.
Indeed, it is one of the first elements which will motivate a tenant or, on the contrary, which will be able to slow him down.
Obviously the rent amount will depend on several criteria such as the number of rooms, the surface, the geographical location, the floor… but there is since January 1st, 2019 a law regarding the rent control that you will have to know and respect.
To estimate your rent, it is important to know the list of criteria to take into account that you will find in our article: setting the right rent amount.
Targeting your tenant
A last point, being able to target your tenant.
Indeed, according to your apartment, the number of rooms, the surface or the location will be different for each person looking for an apartment to rent.
If your apartment is located near an elementary school, the most likely tenants to be interested in your apartment will be families.
Once you have determined who is most likely to be interested in your property, you will have to adapt your offer to the clientele (the decoration, the photos of the apartment or the neighborhood…).
The ability to target your tenants will save you time during the contact between you and the potential tenants.
People with important constraints (such as people who need 2 bedrooms while your apartment has only one) will have inquired about your apartment and will not contact you, saving you a waste of time.