WELKEYS TIP: Investing in a commercial property in Lyon

The city of Lyon is a major tourist destination. Well-positioned on the city-break map according to figures released by Airbnb, Lyon had 10,800 Airbnb listings in the city center in 2017, with an average rental period of 21 nights per property, generating an average of €1,100 in annual income for hosts. As a result, some residents are taking advantage of the city's appeal to offer their apartments for short-term rentals to make their properties profitable. Consequently, short-term rental activity in Lyon is now subject to certain regulations. But what are the details of these restrictions? How can you proceed with short-term rentals despite the introduction of the Airbnb decree? Welkeys, your Airbnb concierge service, provides you with information to ensure your bnb rental is compliant by managing your commercial property in Lyon.

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Renting out your apartment for short-term stays in Lyon

Reminder of the Airbnb decree for your primary residence

First of all, the term "furnished tourist accommodation" refers to renting out your apartment for short-term stays on a repetitive basis (i.e., 4 months per year or 10 days per month on average). The law states that the owner must declare their apartment and register with the Lyon city hall to obtain a registration number. This registration number must appear on your online listing on booking platforms such as Airbnb or Booking.com. But what is the purpose of obtaining a number? What is it used for? In fact, the registration number allows municipalities to track the number of nights your property is rented out. In other words, if you rent out a property for short-term stays in Lyon, you are required to register your primary residence and rent your property for a maximum of 120 days per year.

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Reminder of the Airbnb decree for your secondary residence in Lyon

An owner with a secondary residence is not subject to the 120-day-per-year rental limit. However, there are many rules that must be strictly followed, at the risk of incurring heavy fines.

If your property is less than 60m2 and located in the heart of Lyon, you must request a commercial authorization valid for 9 years. Note that the heart of Lyon includes: all of the 1st, 2nd, 4th, and 6th arrondissements, one-third of the 3rd and 7th, and parts of the 5th and 9th. Furthermore, only the 8th arrondissement is not affected by this law.

If your property is larger than 60m2, you are required to compensate for the loss of residential space by returning a property to the housing market. In other words, you must compensate for your residential space by renting out a commercial property of equivalent size located in the same area.

For "legal entity" or SCI owners: any request for a change of use to short-term furnished rentals must be accompanied by an authorization request to the City Hall and compensation, regardless of the property's size.

The registration number on booking platforms is also mandatory.

That said, there are many advantages to compensating for your loss of residential space with a commercial property. You can rent out your property for short-term stays all year round on booking platforms such as Airbnb or Booking.com.

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Invest in a commercial property in Lyon to boost your income and achieve optimal profitability.

In addition, obtaining a commercial property allows you to optimize your space for your bnb guests, thereby boosting your income and rental profitability. Seasonal rental is becoming increasingly profitable, especially when you own the commercial rights to your property. Welkeys, your Airbnb concierge service, assists you with the procedures for changing the property's designation. Indeed, Welkeys provides full management of your commercial property in Lyon. From changing the designation and creating listings to guest communication, welcoming guests, and cleaning, Welkeys supports real estate investors looking to get started in short-term rentals.