Landlords / Guide
Posted at March 16, 2020

Property management for furnished apartments in Paris

Property management for furnished apartments in Paris

 

You are the owner of furnished accommodation in Paris and are looking for a property manager for a recently purchased apartment. Either you wish to lighten yourself from technical and administrative contingencies related to property management, or you are going on an expatriation, or you simply wish to find a new property manager. Whatever the situation, our rental management offer is for you!
By entrusting your real estate properties to Home Management, a Property Management Company, while Paris Rental takes care of the rental of your furnished apartment, you will be able to appreciate a complete service in total serenity.

I. What is Property Management in furnished rentals?

 

Property Management is a service offered to owners of furnished -or unfurnished- apartments to relieve them from taking care of their property management themselves. A professional company tends to the technical, administrative, and accounting aspects of the rental of their accommodation.
Home Management's services preserve the landlord's property during the rental period and between each rental of the property. Property management allows landlords who are often expatriates themselves and living far from France, to stay informed, both on their property and on the French rental market with its new laws concerning furnished rentals.

The question asked by each owner is whether they will have the availability to manage their apartment for the whole duration of the rental? Indeed, during the time of a long-term rental, the life of the lessor can change completely. For example, if the landlord works abroad and must delegate the management of their property, it will be more complicated for a Property management company to take up the task. For example, the entry-inventory of the premises made by the owner will be the sole basis for the property manager at the end of the lease for the exit inventory. And the relationship with the tenant will be new to the property manager and have to be continued, perhaps on a different basis.
Owners who rent their furnished apartment by themselves must ensure the entry and exit inventories for each rental, collect rents & security deposits, insure payment of energy bills. Moreover, they must be quick to repair all electrical and electronic failures and take care of any eventual water damage. Therefore the lessor must evaluate the time he has available before embarking on the adventure. Whether the decision is to care about the management by oneself or to entrust this care to property management experts, the owner must gauge the pros and cons. It is always possible to delegate the task to a property management company such as Home management, which stands ready to respond to any situation with the rental of furnished apartments in Paris.

II. Advantages and services of Property management

 

Entrusting one's apartment to property management has several advantages for landlords. Saving time is undoubtedly the most pleasant aspect. Landlords do not have to handle worries inherent to the rental, nor to select a tenant carefully. With a property management company, the owner has only to validate the file handed to him for the rent of his apartment in total confidence. Home Management, a company specializing in property management for high standing furnished apartments, offers services that will completely relieve homeowners in Paris. Depending on their needs and their geographic location, lessors can choose Gold or Silver Management for their property. Exceptional services respond to ad hoc services, which may be required outside of the Gold or Silver Management packages.

Depending on the management offer chosen, the services offered by Home Management include:

  • Organizing appointments for technical diagnoses and their renewal
  • Serious and rigorous research of a tenant
  • Visibility of their apartment on several distribution channels
  • Optimal profitability of the property entrusted
  • Organization of the inventory of entry and exit
  • Collection of the security deposit and monthly rents
  • Accounting return to owners, followed by the transfer of rental income to their bank account
  • Annual regulation to the Syndic of co-ownership
  • Annual preparation of the elements for the declaration of rental income
  • Payment of expenses related to the current rental and related to the apartment itself (property tax, purchases, works )
  • Ensuring maintenance and small repairs (electricity, plumbing, household appliances, triple-play internet box, etc.)
  • Ensuring annual maintenance of boiler, chimney sweeping
  • Management of claims up to € 1000 excl. VAT
  • Reimbursement of the security deposit to the tenant (after eventual deduction of repairs)
  • All correspondence and telephone calls by Home Management (except formal notices bailiff)

In any case, we suggest to the owners to entrust the property management of their (s) apartments to Home Management experts to fully enjoy the benefits of furnished rentals of their properties.

III. Selecting the right rental manager in Paris

 

Do not rely solely on rental management rates, even if this question is significant for landlord lessors to optimize their rental income; instead, we suggest that they choose the right formula.
An excellent property management agency has to be reactive and reliable to find a new tenant for the apartment. It will not hesitate to enhance the accommodation by providing the necessary advice to the owner. Also, the management company will take professional photos, create a video for virtual tours to increase the visibility of the rental property as well as opportunities to find an expatriate tenant for a long-term rental. The furnished apartment will also appear on several rental platforms known to the general public, and on websites specialized in corporate furnished rentals such as ParisRental.com.

It is essential to find a reactive property management agency in case of problems or disasters such as electrical & electronic failure, or of water damage. Then, experts must intervene quickly to preserve the apartment and, when it is occupied, to ensure the security of the tenant.

The manager is aware of the specifics of the Paris market and will be able to advise you on the rent estimate. The common interest is that the apartment rents as soon as possible and under the best conditions. For this purpose, lessors must be vigilant that their property management company does not slow down the procedure of visits by not wanting to give the keys to a competing rental agency if necessary, or by not responding quickly enough to proposed rental applications.
With Home Management, this problem will not arise since this sister company to Paris Rental dedicated to Property management works in the same offices as Paris Rental. Feel free to contact our Property Manager. So no worries about communication or celerity for both companies work hand in hand. Human contact is the priority of Home Management. Therefore, property owners will always reach someone on the phone when calling Home Management!

Credits Picture @themephotos

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