Gite properties (furnished holiday homes in France that are available for rent) had a modest start as rustic shelters, but today they’re much more swanky. When purchasing a French gite, you can choose from upscale properties like enchanting converted barns and luxurious country cottages. Ask yourself these eight questions when searching for the perfect rental property.
Should I buy a turnkey property or one that needs renovations?
For most people, the best and fastest option is to purchase a turnkey property, so long as there are enough available that you can find exactly what you’re looking for. However, if you have the expertise, you may opt to renovate the gite yourself. Keep in mind that it’s still important to hire professionals to handle renovations you don’t have experience with, such as electrical wiring or pool installation.
If you decide against a turnkey property, you’ll need to learn the French rules and regulations for property renovation. It will help to introduce yourself to the mayor. The mayor is the person you’re going to need to approve your renovation plans, so it’s wise to get on his good side.
Does this property have a unique selling point?
French gites aren’t rare, so you’ll need to find a business property that has a unique selling point in order to stand out from the rest. Here are a few examples of unique selling points that can differentiate your property:
- Heated pool and/or personal hot tubs
- Walled gardens with areas for walking or reading
- Back-to-back homes for large groups that are traveling together
- Outdoor amenities, such as games for kids or comfy lounge chairs
- Accessibility to the center of town
- Secluded, private grounds far from tourists and crowds
Additionally, consider what a long-term renter may want, like ample closet space or extra pantry storage.
Are there area attractions that will add value to the property?
Local events, useful amenities and nearby attractions will give your gite even more value. If your property doesn’t have anything remarkable or special within its grounds, the locale itself may be your unique selling point. For example, is there a famous restaurant or a popular ski resort nearby? Leverage it!
How many gites should be on the property?
In order to make your time and money worth it, some experts suggest looking for a business property with a minimum of three gites.
When will I be busiest during the year?
France’s holiday season can be short, spanning from mid-April to mid-September at best. July and August, when school is closed for the summer, is likely to be your busiest time. During the winter, you may still be able to attract renters, but you’ll need to lower the costs for the off-season and consider extra expenses, like heating.
Will I be able to earn a living from my gite property?
It can be difficult to make a living from your gite property, especially at first. It’s recommended that gite property owners have another income stream, at least in the beginning. Remember that it’s not uncommon for demand to fluctuate, not just from season to season, but also from year to year.
Should I hide my prices from the public?
Not only should you post clear pricing on your website, but you should try to make pricing all-inclusive. Guests don’t expect to pay extra for things like linens or cleaning services. If you must offer add-on charges, make sure to be upfront about them.
What should I know about marketing my gite?
Accurately describe how the property will be once renovations are finished. Never be misleading – you’ll gain a bad reputation if you misrepresent your gite. Don’t skimp on photography or staging, either. Hire a professional who can present your property in the best way possible. Keep in mind that if you get a local government grant, you may be tied into advertising in only certain places – like on specific websites – for a certain amount of time before you’re allowed to advertise on your own.
If you are looking to invest in a gite business in France, search Home Hunts’ extensive online property portfolio at www.home-hunts.com, but to speak to a consultant directly about your individual criteria, call +33 (0)970 44 66 43.
