Landlord Paris 1st : why entrust rental management to professionals ?
The rental management in the 1st district is sometimes a real headache. Indeed, you lose a lot of time in the search of a tenant, to proceed to the inventory of fixtures, you concentrate on the administrative management and on the collection of the rents. Certainly, these operations are perfectly feasible for a well-informed individual. But if you don't have the time or the skills, don't waste a second and turn to a specialist.
Rent your apartment in the 1st district with peace of mind
Renting your apartment is not always easy, regardless of the area in which your property is located. For example, in the area of the Louvre, Place Vendôme, the Palais Royal or the Tuileries district. On average, the price per square meter is negotiated at 42 € for a one-room apartment and the price goes down to 33 € per square meter for a three-room apartment.
Of course, the profitability is there, but don't forget to take into consideration the rent regulation in the 1st arrondissement in Paris. This is an imperative that must be respected, otherwise you will be in breach of the law. If you also own several properties, the workload increases and you do not have the time to devote to it, because you are divided between your family life and your professional activity.
If this is your first investment, you do not have all the necessary knowledge. Of course, putting your apartment in Airbnb is another possibility to generate rental income. But this does not exempt you from carrying out numerous administrative operations to enhance your property and welcome the tenants as it should be.
How to rent your apartment in the 1st district in all serenity?
Whether you decide to register on Airbnb or to go through an agency specialized in traditional rental management, you will benefit from many advantages. Indeed, there is no need to waste time in the drafting of the lease with the tenant, because this service will be carried out directly by the manager. As well as the realization of the inventory of fixtures and the inventory of exit.
Let us not forget to add to that the collection of rents, the payment of the various rental charges and obviously the management of the disasters and the unpaid. Among the other missions of the agency, you will find the search for a tenant with an assiduous control to avoid finding yourself with a bad payer.
Certainly, rental management or Airbnb management in the 1st arrondissement involves a higher cost. But it is an excellent initiative on your part to enjoy a better profitability. For example, if you want to put an apartment on Airbnb, the rent should be in line with the property's services, but also in relation to its location. By determining an appropriate price, you put all the chances on your side to obtain the best filling rate. But in your profitability calculation, take into consideration the Airbnb commission rate as well as the Airbnb Paris 1st district concierge commission.
For more serenity, don't forget the unpaid rent insurance. It is not mandatory, but highly recommended. If a tenant does not pay the rent, you have no worries, because the agency takes care of everything. On your side, you do not undertake any administrative steps and you keep the reception of the rents in a monthly or quarterly way.
What are the advantages of the 1st arrondissement in Paris?
Putting your accommodation on Airbnb is an excellent way to make your property profitable when it is located in the 1st arrondissement. Indeed, it is a central district with many tourist and historical sites. Certainly the Louvre museum, but also the famous Place Vendôme and the Saint-Eustache church. The district remains popular with locals and tourists alike, as it is extremely well served by public transportation.
All you have to do is use the RER, bus or metro lines to get around the Parisian capital. Due to its popularity, real estate prices are on the rise and this will allow you to obtain a very good profitability. You will attract both people wishing to live in the heart of the capital as well as tourists in search of unusual attractions. So, once you access your Airbnb owner's space, we recommend that you follow the instructions to put your property online.
But if you don't feel like wasting time, entrust this job directly to an Airbnb concierge. They will take care of everything and you will not have to manage anything. Moreover, the rental management is done à la carte, so if you want to keep control of certain services, you have the opportunity.
Vigilance regarding the reference rent in Paris
As you know, there is a rent control system in Paris and in many other French cities. The reference rent in the 1st arrondissement of Paris varies according to the number of rooms, the type of property, i.e. furnished or unfurnished, its address and the year of construction. These different parameters must be respected in order to determine the rent ceiling in Paris 1st district.
In case of doubt, it is best to contact professionals directly, as they will have no trouble determining the right reference rent for your property. On the other hand, you do not have this constraint if you are renting on a seasonal basis. Moreover, the Airbnb 1st district concierge will be at your side to provide you with all the necessary assistance.
What are the benefits of using a specialized rental management agency?
Using a specialized agency like UpperKey can be very beneficial in many circumstances. Whether you're new to real estate or a savvy investor. By working with expert professionals, you're less stressed because you don't have to worry about property management. You generate passive income and when worries arise, the agency takes care of everything.
It's also a great time saver, because you don't have to deal with the tenant's worries. Let's say that a lack of heating occurs in your property or a pipe bursts, you won't be woken up in the middle of the night. The tenant will contact the manager whose first mission will be to find the right solution.
Finally, even if the rental management takes a percentage of the rent, you will earn more money because the property will be properly maintained. You will be able to rent at a better price and the occupancy rate will be optimized.
So if you have any difficulty renting a property in the 1st arrondissement of Paris, UpperKey is here to help you. You'll find a solution with excellent value for money and many additional options that will make your life easier.