The mayor believes he is helping to reduce rents in one of the most expensive cities in the world and we can certainly appreciate this desire, but this could definitely change your investment view of those beautiful pied-à-terres.

We are advising our clients to look at this issue closely.  We have known of a handful of owners who have been served with papers requiring them to stop renting on a temporary basis or face fines of $25,000 euros.

Our recommendation is that you plan to either rent the apartment for a minimum of 12 months or not rent it at all.  However, if you do decide to rent it as a short term rental, be prepared for it to come to a rapid halt if the city gets called.

To lessen the chances that you’ll get a complaint, make sure that your renters aren’t noisy – and if they are ask your neighbors to call you to complain not the city.  This is the most common way for someone to get noticed by the city – via neighbor complaints.

Our specialists can help you figure out the right strategy for your pied-à-terre purchase.