<w0>What you need to know before investing in a second home</w0>

Purchasing a second home is an investment that appeals to many people today. Who hasn't dreamed of having a getaway in the countryside or by the sea? Furthermore, by renting out this property, you can pay off your loan faster and, later on, generate what is known as rental income. Investing in a second home seems like the perfect placement. However, to make an informed decision, your Welkeys Airbnb concierge service offers a summary of the main things to know before you get started.

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Purchasing a second home: what it entails

Obviously, a second home also means new responsibilities. First of all, just like with your primary residence, you must pay the residence tax. This is calculated for the entire year. However, you should be aware that the calculation is not exactly the same as the one for your primary home. Indeed, tax abatements and income-based caps are not taken into account.

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Bills, insurance, and maintenance costs are then added to this. When looking for your ideal property, don't just stop at the purchase price. Assess the condition of the property as a whole. Will renovation work be necessary in the near future? Will there be landscaping costs (mowing, hedge trimming, etc.)? You also need to think about furnishings and potential unforeseen expenses. Yes, even if you aren't there year-round, your second home continues to "live" in your absence. Moreover, properties that are not lived in every day sometimes tend to deteriorate faster.

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These things may seem obvious, we agree, but they must be an integral part of the equation. This way, you will avoid disappointments and unpleasant surprises. To cover these costs, or at least reduce them, you can put your second home up for rent.

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Second home: renting it out

Administrative procedures

Here again, additional administrative procedures are necessary. Depending on the geographical location of your property, these may vary. Indeed, not all cities have the same approach to this. The regulations differ, particularly based on the number of inhabitants. In any case, you will need to declare your furnished tourist accommodation to your town hall. Then, depending on the municipality, a change of use and a registration number may be required. A free formality with the tax authorities is also necessary by submitting a form.

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Also, be sure to check that your homeowners' association allows seasonal rentals!

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Rental management

Once these steps are finalized, it is important not to underestimate the tasks required to manage your rental property:

• creating an attractive and complete listing
• managing bookings and your calendar
• welcoming guests and providing assistance in case of issues
• cleaning, property maintenance, and managing linens
• occasional repairs in case of damage
• managing your property's reputation on booking platforms

Managing a rental quickly becomes very time-consuming when you do it alone. Nevertheless, all these aspects are necessary for good visibility and positive feedback from tenants.

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Airbnb concierge services: invaluable allies

Managing the rental of your second home yourself is time-consuming. For this reason, companies specializing in short-term rentals have emerged in recent years. This is the case with Welkeys. Thanks to our teams, we offer end-to-end support.

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Our Listing Manager takes care of writing your ad and posting it on our partner booking platforms. As for photos, we use professional shoots in your property beforehand. In parallel, our pricing team is responsible for establishing a pricing strategy for your rental. Depending on the season, property type, location, or competition, they will adjust the nightly rate over time with one goal in mind: to help you maximize your rental income. That's it, your second home is ready to be rented!

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Our logistics department, our concierges, and our City Managers are then tasked with welcoming guests under the best conditions and being attentive to owners. Owners can also regularly ask for advice from our sales team.

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Cleaning, providing hotel-quality bed linens, supplying towels and amenities, coordinating professional interventions for technical issues (boiler or heating malfunctions, etc.), assisting guests, and responding to their reviews on booking platforms... We take care of everything. All you have to do is manage your calendar openings and closings and track the progress of bookings in a dedicated space on our website and/or app.