I am in the process of buying a piece of rental property and I have one offer at 3.8% and another at 5%. It's worth asking around...
My friends also assume that agencies take staggering percentages, but it then turns out that they are just repeating things they think they heard somewhere.
I've been trying to convince my aged uncle to operate through an agency for ages and he seems to feel more comfortable having people trashing his flats, not paying the rent and then going without rent for months on end while he takes care of all the necessary cleaning and repairs.
If you tell an agency you aren't sure about selling or letting, obviously they'll advise against renting as there's so much less money in it for them!
Generally speaking, the nicest pieces of property are agency-managed. A large part of the ads you see in le bon coin, for example are places that agencies rejected, or are actually managed by "flat fee agencies", such as gitimmo.
Thanks, David - it does sound very nice, but I do need a garden.
And I bet it doesn't get too cold in your region in the winter either!
Absolutely no garden but a grande randonnee footpath right outside the front door. Nearest granite tor abot 200 metres. Sea less that 30 minutes. Nearest town of any size 4 miles, nearest large town Morlaix. I can give you the co-ordinates if you are interested. The cottage is next to a quiet road that takes few cars and tractors with occasional supplies to farms. Bird reserve about 1 k.
I haven't got a clue what they take but on doing different searches what I can say is the rents for properties advertised through immobiliers appear to be substantially higher than through private ownership.
Can't say what that has to do with though - could be that they don't have cheaper end properties on, could be the properties are of substantially better quality.
Hello Karen
Try fr.wow.com with something like "maison a louer" and the area 79 or 85 whatever. You should get loads.
Hi David,
Just out of interest does it have a garden?
I like Wales...
Oh, hang on, that's, I like whales...
Only joking!
There's lovely. I must have inbuilt impermeability, but as you know the Welchness (sic) in me is often associated with acute verbosity, most especially at such a time as this being as it is the most hallowed centenary of the birth of our national poet hero, isn't it?
http://www.youtube.com/watch?v=1mRec3VbH3w
I'm in IDF and haven't encountered any Brit landlords, just French ones. There are plenty of places to rent but I am looking for a small furnished place, large studio or F1, which limits my options. I do have experience of a location saisonnière. This is tailormade for the kinds of landlords discussed here, because tenants have no protection, due to it being excluded from normal tenancy laws.
In my experience of looking, regardless of nationality of landlord, the watchword is very strongly caveat emptor.
Why not try Googling your search parameters ? ie the department/s, no of beds, garden/no garden, close to shops/isolated etc etc . It Usually works for me.
Yes David, being welsh explains it all !
I don't mind a bit of rain and I don't mind a bit of wind but in your neck of the woods you seem to get the two together sans cesse !
I had five years in Normandy in the '70s and I still haven't recovered !
Eh bah oui! Today for example clear blue sky, pluie neant, will be stars to die for tonight! We've had a very dry few weeks. Yes it does rain but they are usually very fine small drops but it can be quite persistent and the wind drives it horizontal. It's not for those who crave the sun and high temperatures I do admit. I am, though, half Welsh, and that could explain my love affair wit the place!
Sounds idyllic David and I would be interested if you could guarantee me one day WITHOUT rain in Finisterre !!!
BTW I am British and a landlord but we do have a vacancy in our nearby cottage for say six months. It''s very simple, in nice countryside and about 20 minutes walk from a working village in a Parc Naturel. The ideal tenant would be a single artist or writer who wants peace and quiet. Don't expect luxury, far from it. We would require a proper contract and deposit, and declare the income.
I think you're right. Rental income is more important to the French and they do a lot to preserve it.
I'm not saying there aren't good and bad on both sides - of course there are, but you would think that when a LL gets somebody in their property who pays the rent and is willing to more than meet them halfway, then they would appreciate it and not avoid their responsibilities. Yet they don't - it's 'much wants more.' They actually make life a lot more difficult (in some cases impossible) and in the end they shoot themselves in the foot because they lose the income from the tenant, still have a house that's not selling and watching the weeds and damp sprout up.
It's very short-term thinking.
Some English people in our village rented a property to a Frenchman who never paid even a month's rent and now has winter time security of tenure. The tenant tried to hoodwink the oil company to deliver oil at the landlord's expense. I had a French tenant in my cottage who was demanding more and more work to save him heating costs. I gave up after I had supplied a new front door, a new wood burner and new windows. I explained that the idea was there would be some income. He then started complaining about damp (the house is a few yards from a river) and he's leaving now. He said he had lung problems from the damp (and did not notice him writing a cheque for 125 euros for cigarettes in the tabac and he never opened windows or aired the house. I don't think it's a question about English landlords, it's about a reasonable balance between landlord and tenant. In France you don't get much capital appreciation in property so rental income is more important.
Agencies take around 5% of the rent, they also get you a reasonable deal on rent insurance, know the law, have contacts with builders and find you solvent tenants. I know they have a bad reputation, but there are some good ones around and they are more likely to deal with court cases speedily, should things go that far. You are also less likely to have an empty house between tenants so in the long run, it probably works out cheaper.
I'd say it's money well spent.
Oh, somehow I'm glad it's not just me!
Yes, the property is always renovated (but cheaply) and could you make it better for us when you leave please. Sort out the damp and then re-paint it, the ponds, the trees, the peeling wallpaper, the crappy paint job, fencing. Oh, and let's not forget cleaning the oven and the fire out - because they always seem to forget to do that when you move in! Then pay for any chimney's sweeping, blocked drains (none of these things needed doing before you moved in!) and mend the shower which only dribbles at you (of course!)
And let's not forget replacing the gas bottle with a fortnight's worth of gas in it with a full gas bottle and re-stocking their woodpile which wasn't stocked in the first place.
They aren't all the same but I certainly think many British have the mentality towards renters that they see the renter as a way of buffering their coffers and taking no responsibility. They see it as quick, easy money and they are simply doing everyone a big favour by letting them live there.
Your local estate agents are usually ok. They take their commission of course but you 'usually' find life easier when you can deal with a 'middle-man' I find.
Oh my Goodness Karen!! Your reply sounded just like my experience!!
My first place here in France was a substantial GIte (only place I could find to rent before arriving). I took it on a long-term rental. I was told by the Brit owner that there was a gardener for the 3acres of land, a ride on would also be provided, oh and there was a 'pool'. When arriving, I found koi in the 'splash pool' which was a cheap above ground pool which had been put in a dugout hole and was collapsing in on itself. The gardener never materialised and the ride-on had a dud battery so whenever it was to be used it needed jumpstarting from my car. Once the fish were put in the pond, the splash pool was useless and needed a new liner and I found out to my cost that the pond pump tripled my electricity bills but I was expected to cover this despite the fact I was never told of any of HER fish that needed looking after, paying for and feeding at my cost.
Later I found out that the central heating did not work correctly and I was going through nearly 200litre of oil a week. The dishwasher was useless among many other items that did not function. I was paying a fortune for this place and when I told her of these things that did not work, I was asked to go and sort it out for her at various places. I am not retired and have to work during the day (unlike her) and did not have the time for this. I would NEVER rent from a Brit again. And yes, she had it on the market trying to sell it because her original plan of retiring over here and living in it had changed. She wanted a fortune in rent and somebody to fix it up for her too!!
Steer well clear of Brit landlords I say!!