Furnished rentals in joint ownership

Furnished rentals in joint ownership

The majority of furnished rentals take place in apartment blocks, but the regulations on joint ownership can totally prohibit joint owners from renting their furnished properties, provided that this is justified according to the building’s use.
So before investing in furnished property to rent, it is vital that you are properly informed on this matter.

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What you should know about the security deposit and furnished rentals

Although ensuring the tenant will pay the security deposit when signing the lease rental contract is important thing, it is worthwhile to know that the amount of the security deposit landlord can charge has been limited and can no more than two months worth of rent if the rented property is the tenant’s main residence (main home). The period on which the landlord shall return the security deposit after the departure of the tenant are strictly framed (by law).
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Furnished rental for the tenant’s main residence is more closely regulated through the ALUR law

With the ALUR law, furnished rental as the main residence of the tenant is now more regulated but it however keeps the necessary flexibility regards to the duration of the lease, the amount of the security deposit or the choice of fixed charges. And most importantly, the advantageous tax regulation remains untouched. Here the 7 points that sum up the essential information.
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The income induced by furnished rental is part of the industrial and commercial profits (BIC)

During the reporting of land income, it is frequent that the lessors property owners mistakenly report their income induced by furnished rental in the land income category (valid for empty rental), whereas this income are recognized as industrial and commercial profits (BIC), most often more advantageous to the owner. Indeed, may he benefit from micro BIC tax regime with 50 % of lump-sum allowance or from the normal regime , the property lessor of a furnished property usually benefits from it.
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About me

Maud Velter
Maud Velter
Legal & practical advice for furnished rentals
Associate Director of Jedeclaremonmeuble.com