Renting a property always involves estimating rents. This is more difficult than it seems, especially in the Paris region where demand far exceeds supply and rents can be very volatile. Renting can quickly become a headache between managing tenants, determining rent and adjusting returns due to vacancies. Fortunately, to make your task easier during the search for your rental, there are methods and tools that allow you to make a rent estimate in Paris in a quick and easy way.
Estimating a reference rent based on cost per square meter
It is possible to quickly estimate a rent based on an average cost per square meter. While this is one of the fastest methods, it is also the least accurate. In fact, you will need to take into account a large number of parameters in your average rent estimate to arrive at a more accurate value. Among other things, you need to take into account the type of apartment, its location, the amenities nearby, the age of the property, its amenities and many other elements that will make the rent amount increase or decrease in value.
To obtain a reliable reference rent per m2, it may be wise to contact an expert who has a perfect knowledge of the market at any given time. Only he will be able to propose a reliable estimate of your property by taking into account all the parameters relative to your housing, but also the current dynamics of the market. For more information, find out everything there is to know about Airbnb management in Paris.
Adjust your estimate according to the type of rental you wish to set up
Before making your Paris rent estimate, it is important to consider the type of rental you wish to set up. Indeed, a bare rental will obtain lower figures than a furnished rental estimate for similar surfaces and locations. The tax system will also be different. The evaluation of the rent of a furnished apartment is even more complicated because it is necessary to take into account the wear and tear of the furniture in the rent in order to be able to renew it adequately.
Once again, it will be wise to be accompanied in these steps, but appointments with physical professionals can take time and tools are available to allow you to have an accurate estimate in a totally free way directly online.
The location: A parameter of great importance for the estimation of your rents but not only!
The location of your property is of great importance in the estimation of the rents that you can collect. Indeed, the more a property is located in an attractive geographical area, the higher the demand and therefore the higher the amount of rent you can collect. The location also allows you to define a living environment, but also the proximity of amenities and areas of interest located in the vicinity. Finally, the location helps define the level of rent control in Paris. Each geographic zone allows you to position your home within a well-defined price range in relation to a reference rent per square meter.
Along with the location, we also find the surface area of the property. Since the reference rent is defined for each m2, a larger surface area will generate higher rents. Especially in the most popular locations.
Make a simulation of the rent control in Paris
To get an approximate idea of the rental potential of your property, there are online simulation tools. These tools allow you to get an idea of the viability of a project by providing information such as the address of the property, its surface area and the various amenities it contains. The answer is instantaneous and allows you to continue to advance in your project without losing more time.
It is also possible to make an estimate of the rent based on websites such as seloger which allow you to have an approximate idea of a similar property. However, this solution requires time and can sometimes be misleading because the rent determined will be greatly influenced by the current offers that are available. A mistake in the choice of the rent amount can quickly be costly, as the profitability will be directly impacted. All this is without counting Airbnb's management service fees. A rent that is too low will make you lose money while a rent that is too high will generate a high vacancy rate, which is why it is important to strike the right balance.
Upper Key: your ally in managing your furnished rental property
For several years now, Upper Key has been assisting individuals with the rental of their property. You can thus benefit from an appraisal of your property in Paris with the advice of a specialist who knows the market perfectly. Upper Key can, following the appraisal of your property, offer to rent it out with a guaranteed rent. You have nothing to manage, the rents are stable and assured with rental leases that can last up to 3 years. In exchange, Upper Key takes over the management of your property and is responsible for exploiting its potential by taking all the risks. You are protected from vacancies and can count on a stable return year after year.
In an ever-changing real estate market, Upper Key provides you with a stable income without having to manage anything in your home. You save time and money while enjoying the security that real estate has provided to the French for decades. Upper Key also assures you of monthly rent payments with no risk of non-payment and pays you the first 6 months of rent in advance. This means you can have peace of mind from the moment you rent your home with Upper Key.
Enjoy the stability of a regular income with no management requirements and the highest possible return. The expertise of Upper Key's teams allows us to get the most out of each property while ensuring excellent returns for owners. All this while relying on a dynamic team that is available to guide you through the various steps leading to the rental of your project in the best possible conditions.