You are considering renting out your property. However, you do not want to manage tenants and you would like to entrust this project to a specialist in the field. You are right to move towards rental management, but there are many subtleties to take into consideration before getting started.
What is the price of rental management in France?
Please note that the French pricing concerning rental management fees is freely set . In other words, there are no regulations on the subject or any scale. Each real estate agency or professional in the sector applies its own prices, which requires the greatest vigilance of your share in order to direct you only towards the one with the best value for money.
However, you will find fees that vary between 6 and 10 percent of the total monthly rent. However, some agencies systematically charge this rate, even in the event of a rental vacancy. Added to this are the rental fees, applicable only when the tenant makes their first entry. This is a very common practice and the amount remains determined by the value of the rent. Consider about one month's rent with these fees repeating each time you change tenants.
Certain agencies specializing in rentals with only online services are able to direct you towards greatly reduced rental management fees, that is to say between 4 and 5%. Obviously, pay attention to the quality of service and don't forget to compare before you get started.
What services are covered in the rental management fees?
Whether you decide to rent your apartment as the 2024 Olympics approach or in the context of a traditional rental, knowing the rental management fees is a necessity, but also the services available. You must therefore refer yourself to a professional who acts as an intermediary between you and the tenant. As a result, it carries out all the mandatory administrative procedures on your behalf, without the need to intervene on your side. Their support is absolutely essential to guide you towards more effective management of your assets.
Among the services, you will find the search for a tenant, the drafting of the lease, the collection of rent, discussions with the tenant, all regularizations of charges, tax declarations and of course the annual review of the rent . For this, it is essential to immediately consider collaboration with a trustworthy agency to avoid any unpleasant surprises.
Certain concierge services specialized in seasonal rentals go even further by ensuring the necessary repairs so that the accommodation meets the tenant's standard. Indeed, routine maintenance remains essential. Just like disaster management, recovery of unpaid debts and reminders when rents do not arrive. Finally, it is impossible not to mention the numerous formalities at the end of the contract requiring an inventory of fixtures and the return of the security deposit, always respecting the legal framework.
What are the advantages of rental management?
Rental management is an excellent way to save energy and time. In fact, you no longer need to tackle the various tasks necessary for the day-to-day management of your property. No need to communicate with the tenant, you do not need to be present for the visits, at the time of the inventory as well as for the numerous mandatory procedures.
Certainly, rental management fees impact profitability, but it is the price to pay to be more serene and peaceful. Especially since in your calculation, you must incorporate the fact that the rental vacancy is decreasing significantly. The agency has every interest in being active on the market in order to find you a tenant as quickly as possible. To do this, it relies on particularly efficient and innovative communication tools. Without forgetting the reduction in rental risks, because any owner is afraid of not receiving their rent on time.
The interest in rental management does not stop there. You benefit from personalized support from experts with perfect knowledge of the real estate market. As a result, the rent amount will be set in a completely consistent manner and it's another hassle less, because you don't have to find the ideal price for your property yourself.
The last interest concerns securing your income. From the outset, candidates are selected with the greatest care, taking into consideration their background and current financial situation. So the chances of ending up with an unwanted tenant are much lower. Once again, this is a particularly reliable interest in rental management.
How to reduce rental management fees?
Initially, you are hesitant, because rental management fees constitute an additional expense. However, you have every right to start a negotiation. To carry this out successfully, start by finding out about market pricing. If you find other agencies with similar services and a more attractive price, this is a strong argument that you must make in your discussions.
To put all the chances on your side, don’t forget to present yourself as a serious customer. You must convince with your intention to rent and start a long-term collaboration. Also put forward all the guarantees in order to assert yourself as a solid profile. The last element concerns the individual negotiation of services. Many owners make the mistake of focusing only on rental management fees.
Certainly, this is a crucially important element, but so are services. As a result, you could reduce the services offered by the agency or, on the contrary, incorporate others, while ending up with exactly the same prices.
Take time to think
Rental management is an excellent opportunity to get started in real estate with peace of mind. You benefit from peace of mind and sound advice. However, take enough time to choose only the agency that will be able to offer you the best value for money. This way, you optimize your investment, without the slightest worry.