The 88 square-meter apartment is in a portion of the building that was once the carriage-house of a 17th-century “Hôtel Particulier” and was designed and decorated by our illustrious interior architect, Martine di Mattéo.
The apartment is situated on three levels:
1) a ground level living room/dining room with fully-equipped kitchen with laundry/utility area,
2) a master suite on the upper level including an arched window that spans the entire length of one wall with a separate toilet, full bathroom with claw-foot tub, shower and sink and
3) a second bedroom and bath on the lower level, all which provide its occupants with a real sense of privacy.
The main entry is on the beautiful courtyard and two large mirrored windows face the street providing complete privacy.
The apartment is being sold with all the furnishings valued at 35,000€.
I never thought it would happen, because Nice is such a tourist destination, but news was out last week that Mayor of Nice, Christian Estrosi, will be more closely following the national short-term rental laws that apply to cities of 200,000 population or more. Until now, Paris was the only city enforcing the rental laws. Now, we will see more of it in Nice, but it's not completely unmanageable as it is in Paris!
We've studied the news in some depth, and in brief, the conclusion is this:
1) Primary residences will have the right to rent short-term, but no more than 120 days a year, just like in Paris.
2) It is illegal to rent secondary residences short-term without a change in usage.
3) In Nice (different than in Paris), each owner has the right to change the usage of one property from habitation to commercial, for a period of 6 years, without having to compensate the city. (A form to apply for the change in usage is linked below.)
4) For every additional property, and beyond 6 years for the first property, the compensation scheme applies (just like in Paris).
5) Infractions can receive fines of up to 50,000€.
6) Long term rentals of one year or more are still completely legal as well as the Elan Laws that allow rentals of one to ten months to tenants specifically renting for business or education purposes.*
Fortunately, this is by far more liberal than the laws in Paris, but owners still must be very cautious.
* The new Elan Laws can apply to rentals of 1 to 10 months: The Elan law provides for the creation of a mobility lease addressed to people "in vocational training, higher education, apprenticeship contract, internship, or temporary assignment." These criteria reflect a potentially precarious financial situation. Any tenant enjoying the mobility lease can not be required to pay a deposit. He can also benefit from the Visale guarantee. See more here.
I'd also like to remind you that no one can tell you who you let stay in your own property as your own guests. The main difference has to do with the open promotion of the property and rents received.
In addition, a one-year furnished lease carries a 30-day cancellation clause. This means that a one-year lease can be signed, but broken at any time by the tenant with a 30-day notice.
For more information on the new regulations, see below:
And here's the new form, explaining in more details for existing registrants.
To those of you considering an investment in Nice, be forewarned of the regulations. Being forewarned is being forearmed to find ways of managing your investment to be worthwhile and profitable.
I'll be in Nice for a few weeks in February and March during the carnival season working with various clients to find suitable investment properties. Let us help you, too, find the best properties that meet your expectations.
P.S. Speaking of Nice, as always, friends of Parler Paris, Parler Nice and French Property Insider are welcome to stay in Le Matisse — at least when I'm not there. It's warmer in winter and cooler in summer! Contact us today secure your stay!
Febuary 12, 2019
Lily Heise, Author & Travel Blogger
While the myth can be true that the French can be the best lovers, it’s not always that simple having a successful cross-cultural relationship. In time for Valentine’s Day, Canadian author and romantic expert Lily Heise will share some of her most entertaining dating stories, chronicled in her two books.
Lily is a Canadian freelance writer and romantic expert who has been living in Paris in 2000. She is the author of two books on looking for romance in Paris and her articles and travel writing have been featured in the Huffington Post, CondéNastTraveler.com, Business Insider, Playboy.com and many others.
Don't miss it!
The second Tuesday of every month 3 p.m. to 5 p.m.
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