The Paris 2024 Olympic and Paralympic Games are just around the corner! They will take place from July 26 to August 11 and August 28 to September 8, 2024 respectively. Most of the sporting events will be held in Paris and the Île-de-France region, but other cities and territories have the chance to host some of them, including Marseille, Nantes, Saint-Étienne, Châteauroux, Bordeaux and Tahiti.
What remains one of the world's greatest sporting events promises to bring together a large number of people, both in the French capital and in the other host cities. No fewer than 16 million tourists are expected to support their athletes and discover the charm of the French regions along the way. For some French people, the 2024 Olympic Games are likely to make it harder to rent tourist accommodation and travel to the selected cities. But for others, it's also a great opportunity to make ends meet, by renting out their property(ies). In fact, some have already started placing ads on dedicated platforms.
However, there are rules to be observed in this area, whether you're an owner, co-owner or tenant. And just because Paris and France are hosting the Olympic Games doesn't mean the rules are changing. Here's everything you need to know about renting your apartment or house during the 2024 Olympic and Paralympic Games.
Paris 2024 Olympics: rules to know depending on your status
With many tourists expected to visit France this summer 2024, requests for tourist rentals are going fast. But what are the rules to follow when renting out your property?
What homeowners need to know
People who own their main residence don't need any specific authorizations to put their property up for rent, during the Paris 2024 Olympic Games, as they do the rest of the time. They do, however, have certain obligations. The first is that they can't rent out their home for more than 120 days a year. And the property may not be rented for more than 90 consecutive days by the same client. Owners of their principal residence must also :
- Make a prior declaration to the town hall, in order to obtain a registration number that will appear in rental ads. Failure to do so may result in a fine
- Obtain a SIRET number from the Institut National de la Propriété Industrielle, to which they must declare their activity. This number enables them to pay taxes and contributions related to the rental
- Draw up a specific lease for this type of rental, and carry out an inventory of fixtures on arrival and departure of travelers
If an owner wishes to rent out his or her second home, whether a furnished apartment, house or studio, he or she must once again comply with certain rules, in particular those that apply to the rental of furnished tourist accommodation. The property must be furnished with essentials such as bedding, furniture, a gas stove or hob/oven and a refrigerator. The owner must also take out insurance and draw up a rental contract. Beware: failure to comply with these rules when renting out a second home can result in a fine of up to €50,000!
To rent out a second home, you must file a declaration with the town hall and the tax authorities. Rentals must be of short duration, and must not exceed 90 consecutive days for the same client. Rental can be by the day, week or month.
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What co-owners need to bear in mind
Anyone owning an apartment in a condominium must be aware of the condominium regulations. These may stipulate that subletting and seasonal rentals are simply forbidden. In such cases, it is stated that the building is for "exclusively bourgeois" use, and that only long-term rentals are authorized.
Beware: any co-owner who rents out his property for tourist use when the co-ownership by-laws do not authorize it may receive a formal notice from the syndic. The matter may even be taken to court!
Does your co-ownership authorize you to sublet your apartment? Take advantage of the Olympic Games to discover these 10 towns where you can go green just a few kilometers from Paris!
What about tenants who want to sublet during the Olympic Games?
Anyone renting an apartment, or any other type of accommodation, and wishing to sublet during the Paris 2024 Olympic Games should be aware that, as a matter of principle, subletting is prohibited. Nevertheless, a landlord may authorize his tenant to sublet, which must be the subject of a specific clause in the rental contract. If not, the tenant can request written authorization from the landlord to sublet.
It's worth noting that if a tenant decides to sublet without the landlord's agreement, the latter can terminate the lease and evict the tenant.
For landlords and tenants wishing to sublet their accommodation in Paris and the host cities during the Olympic Games, discover without further ado the 15 best cities to telework in during the Games?
Paris 2024 Olympics: what price should you set for rent?
Rent controls do not apply to tourist rentals. Landlords wishing to rent out their primary or secondary residence during the Paris 2024 Olympic Games are therefore free to set the rent they wish. However, in order to prevent prices from skyrocketing, the French Minister for Tourism, Olivia Grégoire, has called for the creation of a seasonal rental price observatory, as well as a commitment charter to inform tourists of rates deemed too prohibitive.
In all cases, the rents received by owners will have to be declared in 2025 via the following 3 solutions:
- Industrial and commercial profits (BIC)
- Micro-BIC
- Under the actual tax regime
These rents are also subject to contributions when they exceed €23,000.
For their part, tenants who have the agreement of their landlord to sublet their accommodation during the 2024 Olympic Games cannot charge more than the rent they pay every month.
How do I go about renting out my home?
People wishing to vacate their accommodation during the 2024 Summer Olympics, or who have a second home available, can place ads on the well-known online rental sites and platforms. By living in a city hosting Olympic events, there's a good chance they'll find takers.
Hotels and campsites are also likely to be snapped up. So anyone wishing to go on vacation in France this summer had better get organized and plan ahead.
Animportant reminder: people staying in free accommodation, or renting social housing or university halls of residence, are not allowed to sublet. If they decide to do so, they risk termination of their lease and a fine.
For those who will be in the capital during the 2024 Olympic and Paralympic Games? Discover the 19 must-sees in Paris!
