Anyone got a holiday home in south of France?

[Crankybitch]

We are thinking of buying one and renting it out when we don’t use it

Was wondering if you have one what we should look out for

Merci

We're just giving this a bump for you, OP.

Thanks Lily

No.

Not in France but I do in Spain. We only let friends stay there and they pay for the cleaners and any gas used (in cylinders). It was just too complicated to let it out part time and meant we couldn’t have our personal or valuable items there. Plus there’s no internet or TV set up (it’s very remote) and I think holiday makers would expect that. Also I think you now need a license and of course all sorts of regulations especially if you have a pool.
Obviously it can be done. We decided we wanted it as a family home and not worry about strangers there. You’d have to get a very reliable agent in the area to meet and greet, manage the cleaning and upkeep. But do investigate the tax implications and be realistic about how many weeks you’ll fill. You probably will want to be using it at peak times too which will eat into earnings. I think realistically what you earn will cover running costs only.

I don’t but I have plenty of clients that do. It’s often not the guaranteed income they think. Sometimes with quite a bit of effort it ‘washes its face’, but often it’s a cost.

Husband is French and has property in France which is rented out though in Paris not in south of France.

The tax rate he pays is very high - something like 35% and return isn't great. He wants to get another in south of France but I am not keen as its a lot of hassle for not much profit.

He has a friend who has set up as a business to save on taxes - not sure how this works but would use a French accountant as French tax is complicated. There's a lot of loopholes and things can get money off for but really need to know system. Also counts as income in UK so you need to take care with UK tax too - no more to pay but could say mean you aren't eligible for Child Benefit if it took you over that threshold in UK. Plus two lots of tax returns each year.

Thanks. Will have a look at the tax implications - we don’t live in the UK at the moment. Quite happy to have it “ wash its face” for the moment as we are thinking about using it more when we retire

We don’t have experience in France but have a villa in southern Spain that we let out. Renting it for the summer season means it can pay for itself and we get lots of use rest of year. Make sure you know what renters are looking for near you (lots of bathrooms and pool for us) and get a realistic indication of income. I think best way is to imagine you were your perfect client, how would you search for the property? Use that method to find the competition - what do they charge, how full do they look, how does your property compare for facilities?
Think about U.K. market and how holidays might change after Brexit. Would you have a market from outside of UK as well? I’d be wanting to build one in current situation.

We have a house in France, passed on from elderly parents. I'd agree that owning property in France, and renting out sounds much simpler than the reality. My French is okay ( a-level and lived in French Speaking Africa) but even simple stuff like setting up bank accounts and working out how to buy a tv license is a pain. Doubly so if you are not physically there. I now know a lot of words relating to French waste disposal conventions!

We only visit a couple of times a year, and friends use it for a few weeks a year too. Luckily, we know the village and the local tradespeople well, which really helps. If you will only be there now and again you will obviously need a local and very reliable person who can manage the house for you. We use a local family who charge a yearly fee and then charge each time we use their services ( eg sourcing a guy to trim the hedge, getting builders to quote for a new roof, opening up for guests). It adds up! They also do a regular check on the house. Ours is a chalet so it's designed to be shut up, which is a relief.

To be honest, I love our chalet, it's incredibly special to our family and I'm glad we have been able to keep it going. We will spend more time there later in life. But there's no way I would have chosen to take it on with a debt or to need it to 'wash its own face'. It's an expensive hobby but I couldn't cope with the faff of turning it into a business from the UK, not for the return I'd get.

BoogleMcGroogle, are you me?

boss I don't think I'm you but you never know!

There are worse things to get lumbered with than a house in France. But a house in France that doesn't need completely reroofing would be even better 🙄