When was the last time you made a blank check?
Perhaps it’s when you paid your apartment rental agency fees, no questions asked.
Do you know how much a rental agency costs, and what do apartment rental agencies do exactly for tenants? Who’s paying for them?
Most newbie expats to Paris (and some Parisians) don’t have a clue on what they’re supposed to pay to the rental agency when they start their home hunting. Problem is that guessing your way through the rental process can lead to “scammy” situations.
So let’s hit the pause button on that question and get some explanations. On y va ?
What do apartment rental agencies do ?
Rental agencies in Paris work in a high demand and low offer market. Turnover is very high and days are never long enough for agencies.
So what do rental agency do for tenants? They
- put together the tenant dossier,
- make the visits,
- handle the walkthrough of entry
- they set up the rental contract.
So who’s paying for these services? Landlords and tenants both pay rental agency fees.
What fees are you paying precisely as a tenant?
You’re only paying for the services I mentioned above.
Agencies will never charge you more than the owner and cannot charge tenants above a certain fee.
Want to make sure what you’ll be paying as a tenant? Check the window or the website of the agency. It should be mentioned there.
How are apartment rental agency fees calculated?
The Alur law, and its decree of August, 2014, set a precise limit to agency fees according to both location and number of square meters. In the Paris area, which is called “zone très tendue”, it means demand is high and therefore prices are high, agency rates are the highest.
The zone A Bis includes Paris and 76 surrounding towns. So how much will you pay ? You’ll pay the same amount, whether it’s an unfurnished or furnished rental.
How are agency broker fees broken down?
- You’ll pay 12 euros per square meter for the visit, the contract drop and that tenant application, and
- You’ll pay 3 euros per square meter for the walkthrough of entry.
That makes a total of 15 euros per square meters for agency fees as a tenant in Paris.
So let’s say your rental is 70 square meters. You’ll be paying a 1050 euros for agency fees.
Your turn !
Now, we’ve covered what you’re supposed to pay the rental agency in Paris.
If you’re wondering what rent prices you can expect to pay for your next rental in Paris, check out my last video on how much rent you can afford here.
Is it the same system in the country you’re coming from ? Let me know in the comments !
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Resources and links mentioned in this video :
Your Free Guide : How to secure your home Rental in Paris
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