How much does it cost to keep an apartment in France ?
You buy an apartment in France. This means that in the residence you will certainly have neighbors, and in order to simplify the maintenance of the residence, a private residence management is chosen by the tenants (hereinafter referred to a syndicate, as in French it is called syndic).
Depending on the size of your apartments, you will be charged the cost of maintaining your residence. The bigger your apartment, the more significant amount you will need to pay. These amounts are called charges (from the French word charge).
So charges represent the cost that you pay to maintain your residence. This is the money that you give to the syndic (residence management, condominium), which in its turn, pays it to various organizations for theirs services.
The charges include the maintenance of your residence: elevator, cleaning, concierge, swimming pool, gardener, gates in the residence and so on. Sometimes charges cover also the cold water (and the hot too), the heating (water and heating are then recalculated using the data of the counters).
In addition, since January 2017, each residence management which counts more than 10 lots (Alur law), must create a reserve fund for financing potential repairs in the residence.
In addition, as the owner, you will pay the fees of electricity, internet, gas (if there is one), water (if it is not included in the payments to the syndic), and apartment insurance.
Moreover there are 2 taxes, that you must pay:
– land tax ( includes garbage collection fee). Actually you pay this tax to your town-hall (city administration), it is never included in payments to the syndic. If your apartment is in long-term lease, at your initiative, the tax on the collection of garbage (and never the whole land tax) is to be paid by your tenant.
– residence tax (includes tax on television). This tax (both of them) is to be paid by the tenant, if you rent an apartment long term (or furnished rent for 1 year). If you live in your own apartment, you pay all taxes.
Let’s see the example of a small two-room apartment in Antibes of 50m2.
Cost of maintenance: 150 € / month = 1200 € / per year (payments to the residence management)
Reserve fund: 200 € / year (also paid to the residence management, and in the case of no serious repairs expected)
Water: 40 € / month = 480 € / year
Gas: 480 € / year
Electricity: 480 € /year
Internet: 30 € /per year = 360 € / year
Insurance for the apartment: 200 € / year
Land tax: 700 € /year (depends on the city where your property is situated)
Residence tax: 900 € / year (depends on the city and your situation in France)
Certainly we have made a very rough calculation, but when purchasing a property, it is very important to learn all the information about it.