Settling in Monaco: rent a flat in the Principality
Settling in the Principality can represent a certain number of questions for our international clientele: moving to a country smaller than some city parks, changing completely your way of life, visiting apartments that “all look alike”…
With more than 40 years of experience in the field of luxury real estate in the Principality, our real estate agency in Monaco has been able to detect the main points that can worry new customers and has been able to adapt in order to offer a quality service that support the client from his first visit to the Principality until entering in the apartment. Our team is therefore at your side to assist and guide you throughout the whole process .
Crédits: Monte-Carlo Sotheby's International Realty
Rent an apartment in the Principality.
In Monaco, rents are payable quarterly in advance. The termination of a lease is therefore generally done 3 months before the end of the contract. Real estate advertisements qtherefore generally done 3 months before the end of the contract. Advertisements you will find today are properties available between now and in 3 months. The most important thing is first to know your needs: neighborhood, living area... So when a property becomes available, our agency can immediately send you the apartment and organize a visit. Our brokers won’t hesitate to present also similar apartments so that you have a perfect knowledge of the market and the apartments.
Properties in Monaco are often of similar category and services. So, it can be complicated to tell the difference between a property and another, especially in terms of price. Two apartments of same size in the same residence may be displayed at different prices; our team of real estate experts will give its best advices in relation to your expectations in order to find the ideal apartment for your home or your offices.
In addition, the Monaco agencies are all working together and share their available properties on a database known by all brokers. Thus, you have the guarantee to access all the available properties on the market, regardless of the agency in which it is offered.
Financial conditions.
Once the apartment of your dreams has been selected, our agency prepares a “Decompte de location”, kind of preliminary contract to define the general aspects of the rental. This document will be signed by the candidate and subject to the acceptance of the owner. Once validated, the tenant has to pay the amount of the reservation, i.e.:
- The rent and charges, payable per quarter in advance,
- The deposit which represent an amount of 3 months of rent including charges,
- The registration fees which will be paid to the Tax Service of the Principality - Services Fiscaux de la Principauté, and corresponding to 1% of the amount of the rent including charges over the duration of the contract,
- Tax stamps,
- Agency fees representing 10% of the annual rent excluding charges, plus VAT,
- A provision for the Check-in inventory, generally carried out by a Bailiff or an independent Expert, and readjusted according to the invoice.
For apartments, leases are generally for a one-year period which is then renewable, except in the case of renting apartments under law. However, an apartment in the “free sector” can also be rented for an initial period of two or three years.
For offices, a 5-year lease specific to the Monaco system will be applied.
The file must then be composed with documents that the tenant has to provide to the agency, in particular:
- Identity document of the person living in the apartment,
- Information form where all collected details remain confidential and internal to the agency that manages the apartment,
- Proof of residency,
- Bank certificate or proof of employment.
In addition, the apartment has to be insured on the day of the inventory and supplied with water and electricity. Our team offers to assist you by having you sign a power of attorney allowing it to open contracts for you with the Société Monégasque d'Electricité, the Société Monégasque des Eaux and an insurance company established in the Principality.
Finally, on the day the keys are handed over, the Bailiff or Expert in charge of the inventory prepares a complete file which will be authentic and an integral part of the contract. Our agency, which also has been able to put you through with decorators, movers, carpenters, kitchen designers and other trades, will remain by your side throughout the whole rental.
With a long presence in the Principality and thanks to our perfectly integrated team, we follow our apartments as closely as possible and do our best to make our customers quickly feel at home.
Discover our apartments for rent in the Principality
Monte-Carlo Sotheby's International Realty, your real estate agency in Monaco.