Grants

Q. What grants are available for renovation if a property is to rented long term to local residents?

A. There are no government grants that we are aware of to landlords but there are tax incentives. The incentives are based on whether the property is rented furnished or unfurnished. Furnished properties fall under business tax rules whereas unfurnished properties are within rental rules. Furnished lets are taxed according to the Micro Bic scheme if the income is less than €76,300 offering a tax allowance of 72%. If you gross letting income is less than €15,000 then you will be eligible for the Micro-Foncier scheme giving a tax allowance of 40% but this is without the possibility of deducting any costs or improvement works.

Destination La France have access to business advisors and tax specialists that can answer in depth questions about rentals and other business matters. Contact us for further information.

Grants for Gîtes

Q. I am going to set up a gîte what grants are available?

A. The thought of running a gîte business can be quite appealing. The Loire region is a wonderful place to visit and has much to offer the holiday maker. There are properties available that can be converted to gîtes and can provide a good income. The regional council will provide grants if you meet quality standards and obtain a quality label from organisations such as Gîtes de France. Subject to certain conditions they can offer up to 30% the cost of renovation work which must be done by registered artisans or builders. Official quotations have to be provided and payment is normally made on completion of the work. One of the conditions is that you sign up with them for 10 years and they handle the booking system and payments etc. for you. For further information on developing a gîte business and suitable properties for gîtes in the Loire contact us.

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