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PARIS LIVING

An Insiders Guide to Living in Paris


FOREWORD
Sid Narang, Founder and
CEO of thesqua.re

Composed of 20 arrondissements, Paris is a city with a past that continues to fascinate the
world and a present that attracts countless tourists each year. In a world of globalisation,
today many prefer to pack their bags and move to the city for more than just the
weekend. Paris is a city that immediately brings to mind images of beautiful monuments,
galleries, cafes, culture and more.

Following Britains decision to leave the European Union, Paris is expected to be one of
the cities to challenge London as Europes financial capital. 2018 will see an increase in the
number of jobs being relocated to the French capital and an example of this is the recent
announcement by HSBC to move 1,000 jobs from London to Paris. In fact, Paris currently
employs around 180,000 people in financial services alone.

The French economy is experiencing a migration of talent from other parts


of the world and relocating to Paris may become an increasingly attractive
proposition.

However, relocating to a new city can be a daunting prospect for anyone.


This eBook is a free guide to help new Parisians and expats get settled into
one of the most iconic cities in the world, offering practical tips and advice
for getting the most out of your time in this enduringly charming city.

The 2018 Paris eBook explores the citys rental market, provides tips
on how to use public transport, helps understand Frances tax and
visa laws and offers an in-depth exploration of Paris best schools
and childcare services.

As a leading global serviced apartment provider, over the last


5 years, we have gained invaluable expertise about living and
working in Paris and with this eBook we aim to provide answers to
your most pressing questions.

Sid Narang
WELCOME

This eBook is designed with the intention


of helping new Parisians and expats to
settle into Paris. This guide explores all the
practical issues that new Parisians may face
when moving to France, answering questions
that many have asked before. The e-book is
published one chapter at a time and here you
will find the first chapter: Accommodation.
The next chapter, Travel Tips, will be published
shortly.

In this chapter, we will outline the minutia


of the rental market in Paris, in addition
to offering countless pieces of practical
knowledge for new Parisians.

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1. ACCOMMODATION
A Guide for the Bold and Brave
This guide has been designed to help This growth is consistent with 90%
new Parisians understand the nuances of French cities, who have also seen
of the Paris rental market. Regardless property prices rise in the past year.
of whether youve already selected a
moving date or whether youre still Follow our guide to make the most
weighing up options, this eBook will of your search and stay several steps
navigate you through the need to ahead of the game.
know knowledge pertaining to the
Parisian property market.

The Parisian property market is


currently experiencing rapid growth.
12 arrondissements out of the 20 that
make up Paris have had over 3% in
price increases over the year (2017).

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Need vs Want
Initial Considerations 1.1
Where to Look
Agents & Landlords
Online Search Tools
1.2
Need to Know
Tenancy Agreement
Added Costs
1.3
Good to Know
Checklist 1.4
The Benefits of
Serviced Apartments 1.5
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1 | Paris Living

1.1 Need vs Want


When one is searching for a new property, one typically has a clear image of what one
requires: does the imagined property include a garden? Do you need a place for pets?
Do you require space for children? Do you require a spare bedroom? How big is the living
space? Once one has answered these questions, one will have a clearer picture of what
one needs and what one wants from a property in Paris. Soon, one will arrive at a list of
negotiables and non-negotiables: the needs and the wants. Once one has arrived at the
deal breakers, the number of properties that suit your requirements will decrease and
estate agents and property managers will find it easier to arrange property viewings.

Initial Considerations

Competition Be Prepared Furnished vs Unfurnished


Currently, Paris is in the midst With any walk of life, it pays to An important issue to consider
of a housing boom. Although be prepared and contingency before moving into a new
Britains decision to leave plan. For securing a tenancy or property is whether a property
the European Union isnt the purchasing a house, the best is furnished or unfurnished.
sole reason for the increase way to do this is to have your This decision is entirely at the
in property prices in the paperwork in order and ready landlords discretion. Naturally,
French capital, it is certainly a to share with estate agents or such a decision is likely to
contributing factor. Prices for property managers. Regardless influence your decision.
properties in Paris are set to of the country of your previous
reach records this summer, as tenancies, have a reference If youre unsure about what
buyers -- many of them from prepared. is or isnt included in the
Britain-- scramble to get their property, dont be afraid to ask
hands on flats in the French Furthermore, the landlord the estate agent or property
capitals most exclusive districts, will require proof of your manager. The more questions
according to a survey conducted identity, immigration status, you have answers to, the more
by notaries. employment status and comfortable you will be when
credit history. Having the signing a contract.
Competition for properties in aforementioned documentation
Paris has increased. Within a prepared renders your
period of twenty four hours, prospective offer on a property
properties in Paris can appear more attractive to any estate
and disappear-such is the agent or property manager.
nature of the competition. We
recommend that you register
with instant email alerts to
stay connected to the latest
happenings. Furthermore, we
suggest that you call estate
agents and property managers
to register interest rather than
email.

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2 | Paris Living

1.2 Where to Look


The streets of Paris exude an inimitable poetry. Possessing a timeless familiarity, Paris
contains an iconic collection of architectural beauty, exquisite cuisine, boutiques and
undiscovered treasures.

From the wrought iron spire of the Eiffel Tower that watches over the city and pierces
clouds to the grandiloquence of the Arc de Triomphe that guards the infinitely stylish
Champs-lyses to Notre Dame cathedral, Paris is a collaboration of cultures and
traditions.

Parisians are infinitely proud of their artistic and cultural heritage. With illustrious
artists such as Picasso, Monet, Manet, Dali, Rodin, Renoir and Van Gogh having strong
connections to the city, it is no surprise that Paris contains some of the worlds most
celebrated museums and galleries. Le Louvre, the Musee dOrsay and the Centre
Pompidou offer stunning collections that span generations.

Although Paris grandeur is awe-inspiring, the city possesses an intimate feel. Paris is
split into 20 arrondissements, which retain a village like feel despite the size of the city.
The arrondissements are numbered 1-20.

Popular Areas in Paris

Champs Belleville Marais


Elysee Charonn Montematre
Hotel de Ville Nation Opera
Ile St Louis Bercy St Germain
Latin Quarter Montparnasse Luxemburg Gardens
La Villette Les Batignolles Trocadero

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3 | Paris Living

Agents and Landlords


Paris contains over 3,5000 agents immobiliers (estate agents). With all of the agencies
working independently, there are no multi-agent agreements. Moreover, a recent survey
found that approximately half of Parisian property was sold directly through owners or
third party websites. So property hunting can be a bit of a nightmare, which is why many
people choose to use property finders.

As a general rule, it is better to go through estate agents- even if the costs are slightly
more. By going through estate agents, you will be legally protected.

Online Search Tools


Countless websites offer impartial letting
advice on properties across Paris. Sites like
Zoopla and Rightmove offer comprehensive
guides to properties and districts, offering
information on broad subjects such as
education, healthcare and employment rates.
Websites of this ilk are great platforms for
gaining a deeper understanding of the area
in which you are deliberating moving. If youre
looking for a website that deals solely with
French properties, try www.frenchproperty.
com, www.countryhomesfrance.co.uk or
www.frenchpropertylinks.com.

Although these online search tools are


useful, they are no replacement for visiting
the areas and properties yourself before you
part with any money.

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4 | Paris Living

1.3 Need to Know


Tenancy Agreement
In France, a tenancy agreement is commonly called a bail (pronounced bye). Alternatively,
a tenancy agreement may also be called a contrat de location. Every reputable landlord
will provide a tenancy agreement for both parties to sign. It is crucial to diligently read
through this document and challenge any areas youre unsure about.

Typically, the contents of a French tenancy agreement include:

-- Confirmation of money the tenant must pay per month.


-- Confirmation of the date which money must be paid to the landlord.
-- Details of the landlords bank account.
-- Conditions around late payments and missed payments.
-- The agreed length of tenancy.
-- The amount charged for a security deposit and estate agency fees.
-- A set of rules and regulations to which the tenant must abide by or otherwise face
eviction.

It is important to note the following points


about tenancy agreements:

-- Landlords, under prosecution of the


law, cannot end the tenancy before the
fixed term expires, unless the tenant
breaches one of the terms of the tenancy
agreement.
-- Tenants, similarly, cannot end the tenancy
before the fixed term period, unless the
landlord breaches one of the terms of the
contract.

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5 | Paris Living

Added Cost

Before securing the property of your dreams, you must be financially prepared to commit
to the property.

Security Deposit Booking Deposit and Advance Payment


A French security deposit covers different types Typically, French landlords require a booking
of payment made to the landlord to create the deposit to reserve the property. If a tenant reneges
tenancy. on the booking deposit, they are liable to have
their damage deposit taken by the landlord.
Damage Deposit Where the landlord cancels, they are liable to
A damage deposit is required by landlords refund the tenant twice the amount of the
before the prospective tenant moves in to the booking deposit.
property. The damage deposit can be used against
deterioration and potential arrears. The damage Utilities
deposit is known as a dpt de garantie. There may be fees charged to your utility providers
For unfurnished properties, the maximum a to update their register. Upon signing the tenancy
landlord can charge as a security deposit is one agreement, you will be responsible for contacting
months rent. A landlord can charge any amount the local council to arrange payment of your
for furnished accommodation. council tax. It is wise to enquire about potential
costs before signing the tenancy agreement.
For an annual tenancy, landlords must return
the deposit sub damages (accounted for by the Maintenance
landlord) and arrears in two months following the In some areas, properties have substantial
termination of tenancy. The best way to protect communal areas that require additional
your security deposit is to be present while the maintenance fees. These will be stipulated in the
inspection is taking place. Also, be sure to take contract.
pictures of the condition you leave the property in.

Agent Fees
Letting agency fees will vary from agent to agent.
They will be stipulated in the contract.

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6 | Paris Living

1.4 Good to Know


Transporting your dearest possessions to Paris can be fraught with peril. There are
countless haulage companies that possess expertise in moving your possessions to Paris.
Ikw-walter.co.uk, platinumstransport.co.uk, www.anyvan.com, www.elumatrans.co.uk,
francelinetransport.co.uk offer efficient haulage services from mainline UK. If youre flying
from further afield, several airlines offer haulage services.

Request quotes from around three months before you plan to travel and dont be afraid
to negotiate. Remember to check the insurance requirements of all removal companies
before committing to them.

Checklist
International Storage & Haulage

Consider the total sum of your monthly outgoings;


include rent, utilities, internet, council tax and
maintenance costs.

When will your rent be reviewed?

Is it possible to extend your tenancy after it


finishes?

Is there room to negotiate the price of your rent?

Have you been given a copy of the tenancy


agreement?

Will the property be furnished or unfurnished?

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7 | Paris Living

1.5 The Benefits of Serviced


Apartments
Serviced apartments, delivered by thesqua.re, are stress free and a flexible alternative to
renting privately or buying in Paris. With serviced apartments, it is possible to commit on a
week to week basis and check out with only 24 hours notice.

Management of the legal and contractual aspects are completely taken care of and there
is no hefty deposit, agency fees maintenance costs and utility bills. Moreover, apartments
are fully furnished; down to linen and crockery.

Serviced apartments are fully


accommodation living space monthy cost pp furnished home from-home
properties. As an added bonus,
hotel 250-300 sq.ft
serviced apartments include a
30 days stay average hotel room professional cleaning service on a
regular basis. Serviced Apartments
are a convenient and functional
way to stay in Paris for short-
serviced 700-800 sq.ft term project work or a great
apartment 2 bed contemporary
30 days stay apartment way to experience a particular
neighbourhood before purchasing
long-term.

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BACKGROUND
INFORMATION

We are thesqua.re, a serviced apartments provider


based in Paris. We offer apartments to business
travellers and people who are relocating to Paris who
require a permanent residence.

Our extensive experience in this industry has shown


that many expats ask the same questions about how
to get settled in the city.

For your convenience we have created this locals


guide to navigating the market before, during and
after your move to Paris.

www.thesqua.re
corporate@thesqua.re
+44 (0) 203-691-3328
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