So the dream of that pied-à-terre in Paris is now a reality, bravo! But what next?
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It's not the fun part, but we always remind clients, even before they buy, that owning an asset comes with things to think about and those will include maintenance, building (coop) decisions, currency exchange, tax, and etstate planning to name just a few.
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Whilst we don't do this in house, whatever your need, we likely have someone in our network who can help you, and if we can't, then we'll find them for you!
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1
Rental
Whether this is a long term rental investment, or you are looking to cover some running costs. There are different types of rental that can suit your needs. Annual or mid term (corporate) are the most popular amongst our clients. As a reminder, short term is usually illegal if it's not your primary (tax) residence.
2
Management
Setting up the iternet, cleaning, paying utilities and building managemnt dues, atteding AGMs, regular check ups, or even stocking the fridge for your arrival. A property manager will ease this burden so that you can just enjoy the property. And we know some great ones.
3
Legal
Taxes. Eugh. Whilst running costs and property taxes are incredibly low compared to for example the USA, they still need to be paid . There are also likely going to be inheritance and taxation implications depending on your place of residence, so we always encourage speaking to a tax specialist before making a purchase.
