Investing in real estate in Paris for short rentals
When investing in a house for short-term rentals, you must be aware of all the characteristics that make it a deal.
Besides the location of the house you want to buy, you should consider the financial and logistical value. To calculate the financial value of a property, you can try many online calculators that use algorithms to evaluate the property. Calculations are based on factors that you can consider as well at a slower pace.
For example, when you decide to invest in a house for short-term rentals you should consider if the price is reasonable. It may be excessive, and you can try to find a new agreement. Or, it may even be inferior to a fair price!
Investing in a short-term accommodation in Paris
If you are buying a house to make it accommodation in Paris for short-term rent, you may need to consider other expenses. If you buy an apartment, you may have expenses linked to the maintenance of the common spaces of the building. Also, you should always consider the maintenance costs. For example, heating and AC are maintenance costs as well! If you decide to buy a holiday home and then rent it, you will also need to calculate the costs of the cleaning service, plumbing, etc.
If you don’t live in Paris, you will need to pay a pro that can manage the property at your place, a property manager. A property manager is capable of mastering the entire organization of a short rental apartment. Property managers can arrange reservations, communicate with the guests properly, solving almost every kind of problem of a guest. Plus, a property manager can also help in case of unforeseen events. It’s the professional you need if you can’t be in the house to welcome your guests, and to control that everything is going fine.
Read more about What to expect from a property manager?