France has recently changed its legislation, offering landlords the opportunity to place their property on the mid-term lettings market. A mid-term let is the new intermediate form of a furnished rental, which is simply to rent ones home for a longer period than 1 month (short-term), or less than 1 year (long-term). If you own a home that you decide to mid let, you will be likely to host "temporary" tenants, such as a trainee or student. To host this type of tenant, your home must be furnished, just like an Airbnb rental, and your guests will have to leave the property as they found it without making any changes.
To place your property on the mid-term let market, there are two solutions: you can use the “bail mobilité” or the “bail civil”. The Bail Mobilité is a medium-stay furnished rental contract that allows tenants to rent a property for 1 to 10 months. The Bail Mobilité was set-up under the ELAN Law to help tenants find temporary accommodation for medium-term stays during their graduate studies, professional training or temporary professional assignment. Unlike, short-lets, hosts will need to set-up a fixed-term rental agreement with the tenant. Medium-term rental contracts cannot be extended with the same tenant passed 10 months. In Paris, the rent is capped with a Bail Mobilité but you have the solution of the Bail Civil, which has the advantage of not being subject to the regulation of rents. The only drawback of a Bail Civil is that the duration of the contract is 3 months minimum, unlike the Bail Mobilité contract that can be signed for a minimum of 1 month.
Airbnb hosts and landlords can enjoy the following benefits if they place their property on the mid-term lettings market:
Mid-term lets offer an excellent alternative to hosts who want to maintain the flexibility and benefits of short-lets but without the faff. Mid-term lets give hosts a greater overview of their income across a longer period of time and are more profitable than long-term lets.
Airbnb restricts mid term listings from being booked just a couple of nights, instead guests can book your flat for 1 to 10 months . Once a guests books your property, a “bail mobilité” can then be signed online between you and your tenant.
GuestReady France is an award-winning property management company that offers end-to-end short and medium-term property management services in Paris, Bordeaux, Cannes, Nice, Lyon and Biarritz. Discover our services or get in touch for more information about mid-term lets and how we can help.