Key advice for buying to let
To successfully buy-to-let, you need to make a good purchase, carefully selecting the location, and optimise your rental opportunities, choosing the right tenants, offering a property in good condition and learning to delegate management.
Make a good purchase
The golden rule is to invest in an economically dynamic town as this will mean rental profitability. However, you should avoid places where prices have rocketed. It’s also better to focus investment in a small area: the most leased real estate properties in France are studios and 2-bedroom apartments (44%), and three-bedroom apartments (23%).
To optimise the success of your rental investment, it’s best to buy in an area you know well.
Let your property Wisely
It is important to ensure that a tenant is able to make their payments. To check this, a landlord may ask for several documents, such as a copy of a tenant’s ID or their most recent payslips (be wary of fakes!).
The lessor can either sign up to coverage of unpaid rent (costing around 2.5% of rental income) or, if the tenant is a student or an apprentice, ask that they provide a third party guarantor.
Another key tip is to offer a property in good condition. This way, you encourage the tenants to respect the place, to feel at ease, and to stay longer (which limits their holiday periods).
Finally, if you are not well acquainted with the legal system, or if you live geographically far away from the property you are letting, it is worth considering delegating the management to professionals (for a typical cost of around 6-9% annual rent).
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