A new article was printed in the NY Times today discussing the ongoing discussion that Paris city officials are considering outlawing short term rentals. This dialogue began over a year ago, and is not new, however the NY Times article has opened up the topic again. The article incorrectly states that short term rentals are illegal in Paris. This is simply not true; there are just a number of rules in effect that basically imply that a person renting an apartment in Paris (for any duration) must have the authorization to do so and comply by the various local laws. This applies to most agencies today. I would suggest not renting with an individual owner who requires cash payments and does not provide you with an official contract, but that is common sense to most of us..
However, the idea that the city officials might continue to frown upon short term rentals could happen. For a variety of reasons, vacation rentals might become more difficult to come by in the upcoming years. This is not for sure, but it could happen. Therefore for people who love coming to Paris and plan to continue to do so into the future, the idea of Paris Fractional Ownership is the way to go...
By purchasing a share of a beautiful Paris apartment, you can come to Paris each year and enjoy your wonderful Paris pied a terre, risk free and you will always be sure to have the same place, since you own it. Paris fractional ownership is becoming a very desirable way for people who love the City of Light to invest a bit and actually own their own place here. This would certainly remove any risks about being closed out of the rental market in future years, and provide you with your own Paris home sweet home...
Please contact us with any questions you have.
Glenn Cooper
www.paris-fractional-ownership.com
www.rentals-paris.com
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