2023-04-21 06:00:39
The period does not seem conducive to rental investment. Interest rates are rising, increasing the cost of mortgages and cutting into the profitability of the investment. Access to loans has become more complex. And the regulatory constraints attached to the rental of accommodation have been increased.
Since 2015, the lessor must indeed provide a standard lease to the tenant when it comes to his main residence. Various diagnoses must also be given to him, such as the observation of the risk of exposure to lead, since 2008 (for dwellings built before 1948), or that on the state of the interior installation of electricity or gas, since 2017 (if the installation is more than fifteen years old). Without forgetting the energy performance diagnosis (DPE), mandatory since 2007 and enforceable since July 2021 – in other words, the tenant can obtain redress if they believe there is a mistake.
Another upheaval, the gradual ban on the rental of the most energy-intensive accommodation. Those consuming more than 450 kWh per square meter per year can no longer be rented since 1is January 2023. It will be the turn of dwellings labeled F or G by a DPE, between 2025 and 2028, then that of E dwellings, in 2034. F or G dwellings can no longer have their rent raised since August 2022.
Some landlords who cannot or do not want to carry out work sell their property and thus withdraw from the market. For 2022, the SeLoger site has thus noted a drop in the volume of rental advertisements of 40% for thermal strainers – properties classified F or G (compared to 25% for the others). At the same time, the number of advertisements for the sale of these homes has increased: they constituted 19.2% of advertisements in 2022, compared to 11% between 2018 and 2020.
Finally, in some large cities, such as Paris, Lille, Lyon, Bordeaux or Montpellier, there is also a rent control that limits profitability. If these measures aim in particular to better protect tenants, Christophe Demerson, president of the National Union of Real Estate Property (UNPI) believes that “all this discourages investors”.
Strong rental demand
However, all is not black. First, because rental demand is particularly strong. According to the Clameur rental observatory, fed by professional real estate federations and major agency networks, housing on the market is currently being rented quickly: it takes on average a week and a half for houses and between fifteen and twenty days for apartments.
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