How Much Does it Cost to Rent an Apartment in Paris?
Volume XX, Issue 38
If you’re up-to-date on our Nouvellettres®, then you know that I will have to move out of my apartment for six months as of next September for massive restructuring work and renovation. (See this past issue for the entire story!) As part of the move, by the end of this November, I have to estimate the cost of a rental property—for which the “copropriété” (homeowner association) will be willing to pay—and find an apartment to rent for six months, plus the cost of the entire move out and the move back in.
A six-month rental is considered a “short-term” rental or could fall under the regulations of a “mobility lease,” except that by Paris laws, this type of lease is intended for students and people who move around: professional transfer/temporary assignment/vocational training/work experience/apprenticeship/voluntary work (as part of civic service)…not people like me who simply need a place to live while the renovation is taking place. This is one of (many) complaints I have about the city regulations which don’t address the needs of everyone. Nonetheless, this is with what I am faced.
To find a rental apartment, I made a list of the clients we have in my immediate vicinity to inquire about the availability of their apartments. A few were open to the idea, but the immediate question was how much the rent would be. Rents vary based on location, amenities and length of stay. Our clients’ apartments are all of “haut de gamme” (top quality) and were originally short-term rentals before the city’s regulations made that illegal. If they rent their apartments now, then it must be based on the mobility lease, but which still gets a premium rental rate, if not quite as much as they did when they were vacation rentals.
The question remains: how much is the copropriéte willing to spend on my behalf to have an equivalent home in the same neighborhood? I’ve asked this question, but no one actually has the answer since it depends on the vote that must take place by the co-owners. In my mind, they cannot deny me the minimum of Paris’ rent control rates for long-term rentals (one year, furnished), nor of mobility lease properties within the normal range.
Properties under the rent control laws, in the Quartier Enfants-Rouges (where I live now) for a furnished 3-room apartment built before 1946, the average rent is 28.70€ per m². The lowest is 20.09€ per m² and the highest is 34.44€ per m². These figures do not include the building homeowner association dues/charges nor utilities and were calculated based on a rental from mid-year 2022 to 2023. (The website doesn’t allow for much flexibility on timing!) For a property of equal size, this calculates to 1,406€ a month at the low, to 2,410€ a month at the high. But, these are the rent control figures for long-term rentals and don’t really apply here.
Meilleurs Agents offers an estimate of rental rates based on specific addresses. For my exact address, the rent excluding building charges averages 2,310€ a month—1,827€ a month at the low and 3,164€ a month at the high. Now, we’re getting closer to what these owners might accept, although normally they can get much higher rates.
Today’s market is very limited. Only six properties are advertised on Seloger that fit my location and apartment size. Only three of those are furnished. Their range is from 2,100€ to 2,590€ a month.
Statista reports that the average monthly square meter rent of apartments in my district as of September 2021 was 37€, or 2,590€ a month. So, all of this is basically good news—the rates are relatively consistent. And the figures are readily available so that you can determine what you’re willing to pay for rent in the City of Light.
For those renting long-term, rent control has been established in areas where the housing shortage is most acute: Paris, Lille, Hellemmes, Lomme, Plaine commune: Aubervilliers, La Courneuve, Épinay-sur-Seine, L’Île-Saint-Denis, Pierrefitte-sur-Seine, Saint-Denis, Saint-Ouen-sur-Seine, Stains, Villetaneuse, Lyon and Villeurbanne, Est Ensemble: Bagnolet, Bobigny, Bondy, Le Pré Saint-Gervais, Les Lilas, Montreuil, Noisy-le-Sec, Pantin, Romainville, Montpellier (since July 1, 2022) and Bordeaux (since July 15, 2022).
The rent control system sets a limit on the rent that the owner of a property rented under a residential lease (including a mobility lease) can charge. It only applies in municipalities located in a “tense” area—municipalities where the number of housing units offered for rent is much lower than the number of people who want to become tenants of a housing unit, to make it their main residence.
There are 2 types of rent control:
1) the rules that apply in most of the communes in the tense zone
2) specific rules (in particular the rent supplement: in some cities where rents are regulated, the rent is added to the basic rent for housing with specific characteristics of location or comfort (view of a historical monument, etc.) compared to housing of a comparable level.
Some housing units are not concerned by rent control, as they are subject to other rules. These are housing units subject to the 1948 law, or those under agreement with the Anah, (except for intermediate rent agreements), social housing (HLM), furnished tourist accommodation and subletting are excluded.
Confused? Easy to be! French law is not simple or straightforward and even the lawyers are guessing how to follow the rules. Meanwhile, I’m just trying to determine where I’ll be living and who will be paying for it!
The Adrian Leeds Group
P.S. Why does it pay to hire us to find your long-term rental? Should you decide to book an apartment online sight unseen, without someone verifying the quality of the property, you risk a variety of problems with both the apartment and the landlord. When you hire us to find you a property for rent, we act as an advocate on your behalf. Not only do we have the know-how and experience to ferret out the best properties, but you can trust us to make the right choice for you, so you can move right in, leaving the legwork to us. Plus, the clout we lend to your status, due to our relationships with agents and owners will put you ahead of the others vying for the same property.
P.P.S. I will be taking a week off. From October 17 to 21 there will be no freshly-written Nouvellettres®. We may rerun some past issues…if you prefer not to miss a single issue!