On the occasion of the upcoming Olympic Games, which will take place in Paris in 2024, one in five residents of Île-de-France plans to rent out their accommodation for the first time on Airbnb. If you are one of these new users of the platform, here are the rules to know in order to rent out a property during the Paris 2024 Olympics.
One year before the start of the Olympic Games, many residents of Île-de-France see the Paris 2024 Games as an opportunity to rent their accommodations at a high price on Airbnb.
Indeed, from July 26th to August 11th, 2024, visitors from all over the world will flock to Paris, as well as Châteauroux, Versailles, Lille, Marseille, or Bordeaux, to attend the Olympic events. The leading short-term rental platform estimates that prices for rentals could reach €200 per night in Île-de-France during the Games.
Although there is an opportunity to seize, the rules for renting accommodations during the Paris 2024 Olympics differ depending on whether you are the owner or tenant of the property. Therefore, it is important to gather information in advance in order to rent your accommodation with peace of mind during this period.
In France, the law of July 6, 1989 regulates subletting and stipulates that a tenant must obtain written permission from the landlord, including regarding the amount of rent. The rent charged to the subtenant must not exceed the rent owed to the landlord.
In principle, subletting is prohibited unless a clause allows the tenant to sublet in the lease agreement. If this clause does not appear in your lease but you still decide to sublet your accommodation, you risk eviction.
The same applies in social housing where seasonal furnished rentals are strictly prohibited. In the case of subletting in social housing, the tenant risks lease termination and financial penalties.
Even if you own your home, before being able to rent it on Airbnb, you must check the condominium regulations.
When the regulations state that the building is "exclusively for residential use", it means that renting for tourist purposes is not allowed. Only long-term rentals for residential use are possible.
If you decide not to comply with this prohibition, the property manager can send you a formal notice. In more serious cases, the matter can be brought to court, especially if the tenants have damaged the common areas of the building.
Owners who wish to rent a property during the Paris 2024 Olympics must also check the rules in force in the municipality. In fact, the rules concerning furnished tourist accommodations are determined by the local urban development plan or PLU.
In Paris, the rental of a primary residence cannot exceed 120 days per year and 90 consecutive days for the same client.
Note: if you own a second home in Île-de-France, you can only rent it out for seasonal purposes once a year. In Paris, Hauts-de-Seine, Seine-Saint-Denis, and Val-de-Marne, you will only be able to have one rental during the Paris 2024 Olympics. Offenders may face a fine of €50,000 in case of inspection.
To rent out your accommodation during the Paris 2024 Olympics, you must also submit a prior declaration to the town hall.
This process is done online on the town hall's website and allows you to obtain the registration number that must be included in rental advertisements.
This formality is mandatory, and if you fail to do it, you may be subject to a fine of €450.
And of course, the rents received from renting a property during the 2024 Paris Olympics must be declared in 2025. You will need to include them in your income tax return under the category of industrial and commercial profits, either under the micro-BIC or actual regime.
To fulfill your tax and contribution obligations for this rental, you will need to obtain a SIRET number by declaring your activity on the INPI website (more information on the Ministry of Economy's website, below).
If you own the property, you are free to set the amount of rent. But be careful: individuals who earn more than €23,000 in rents per year are required to affiliate with the Social Security for Independents and pay social contributions.
Author Audrey on 21 September 2022
Real estate, vacation rentals : Useful links
Author Audrey on 11 December 2023
Real estate, vacation rentals : Useful links