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Real Estate terms

Real Estate terms

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Old Mar 19th 2014, 12:08 pm
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Default Real Estate terms

Following up on a suggestion I have seen made several times in this forum, I have been looking at http://www.leboncoin.fr for rentals. While my french isn't great I can understand most of what is going on. What I am not sure of is the term Honoraires which I see in most postings. Is this some sort of one-time fee associated with renting an apartment/house?
Here is an example
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Old Mar 19th 2014, 12:51 pm
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Default Re: Real Estate terms

Originally Posted by cshurt64
Following up on a suggestion I have seen made several times in this forum, I have been looking at http://www.leboncoin.fr for rentals. While my french isn't great I can understand most of what is going on. What I am not sure of is the term Honoraires which I see in most postings. Is this some sort of one-time fee associated with renting an apartment/house?
Here is an example
I believe that's exactly what it is.

IIRC it's up to estate agents whether they charge fees and what level fees they charge, the law does not specify, all the law says is that whatever fees they decide to charge they have to display them prominently in their office and on all their advertising so that everybody is aware.
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Old Mar 19th 2014, 12:54 pm
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Default Re: Real Estate terms

Wow, that is a nice fee.
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Old Mar 19th 2014, 2:07 pm
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Default Re: Real Estate terms

Originally Posted by cshurt64
Wow, that is a nice fee.
The fee is a one-off, and usually around 7% of the annual rent and divided 50-50 between the letting agency and the owner of the property. In this case, the rent is "charges comprises" meaning there shouldn't be any hidden costs... and if my maths is right, 500€ is less than 7% of 7896€.
The fee is 'justified' (by the trade) because in exchange you get a lease, the various checks on lead pipes, asbestos etc are supposed to be seen to by the estate agent; they deal with the état des lieux which describes the condition (in detail, so be there when it takes place) of the property when you start renting and when you leave. Any damage will be paid for out of your "caution" or deposit which is held over until you leave. Beware, as this can lead to trouble. Don't forget you'll need insurance before being able to move in, and possibly a guarantor since you're 'foreign' (or rather they are, you presumably being British therefore not foreign).
Good luck
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Old Mar 20th 2014, 1:42 am
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Default Re: Real Estate terms

Thanks Peabrain,
I'll make sure to pay attention when we do the initial and final inspections. As it turns out my company requires we get renters insurance, so that bit will have to be taken care of.
BTW, being American I'm extra-foreign I guess .
Any advice on a company for renters insurance?
Chris
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Old Mar 20th 2014, 8:09 am
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Default Re: Real Estate terms

Originally Posted by cshurt64
Thanks Peabrain,

BTW, being American I'm extra-foreign I guess .
Chris
Whoops. Well, North America used to be British, didn't it, so it's almost the same.
As regards insurers, I've always used la MAIF and found it most satisfactory and efficient.
Good luck.
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