Managing a property in Paris can be a challenge, especially for owners who do not reside in the city or have no experience in the local real estate market. There are several management options available, each with advantages and disadvantages depending on the level of involvement the owner wishes to have and the type of service they are looking for. Below are the main alternatives:
Concierge companies.
They offer a comprehensive service that includes tenant search, rent collection, maintenance and reservation management for short-term rentals. They usually charge between 20% and 25% of the rental income. This is the most complete option, but also the most expensive.
Rental management companies
They take care of administrative and financial management, such as rent collection and tenant screening, with a commission of 6% to 10%. It is cheaper than concierge, but does not include maintenance and other additional services.
Own management
The owner assumes all the tasks, from promotion to maintenance. There is no external management cost, but it requires a lot of time and effort.
Choosing the best option
- Time and dedication: If you have the time, in-house management offers full control. If not, concierge orrental management companiesmake the task easier.
- Type of rental: For short-term rentals, concierge companies are ideal. For long-term rentals, a rental management company may be sufficient.
- Budget: If the goal is to maximize revenue, in-house management saves costs. Management companies offer convenience in exchange for a commission.
Each option has advantages and disadvantages, and the choice depends on the owner’s needs and availability.
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