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Rent a Paris property..for an event?
Following in the footsteps of Airbnb, OfficeRiders, We Peps, and SnapEvent offer platforms allowing property owners to rent out their space for events.
Looking for a way to generate income from your property in Paris? Or planning a special event in Paris? It is in this mindset that OfficeRiders, We Peps, and SnapEvent have developed their rental platforms, which offer properties for meetings, classes, or parties.
OfficeRiders, for example, allows companies of all sizes, as well as start-ups and even free-lancers, to rent someone’s home or apartment for business purposes. “In Paris, we have almost 30 million square meters available during the day, as companies are asking for more personalized meeting spaces,” says Florian Delifer, founder and CEO of OfficeRiders.
We Peps allows you to rent a property for events: “This ranges from yoga classes to company parties,” says Founder Benjamin Pouthier. This concept was initially developed by SnapEvent, who now offers top of the line luxury properties for events, only 30% of which are owned by private individuals.
Up to €5,000 euros for an event
Still fresh on the scene, these young businesses work with major insurance companies (MAIF for We Peps, MMA for SnapEvent, Allianz for OfficeRiders) to offer their clients secure insurance policies, even though, according to Olivier Levy, CEO of SnapEvent, incidents are rare: “In four years of existence, our insurance policy has only been used twice,” he reports.
The major advantage of these platforms is that, to date, the listed properties are not subject to any of the rules governing seasonal rentals. “The legal landscape surrounding our platform is still unclear,” says Delifer. The 120-night rule does not apply, as the properties aren’t housing guests, regardless if they are primary or secondary residences. “With OfficeRiders, our clients average earnings range from €100 to €300 euros just by renting their property for a half-day meeting,” says Delifer. “That’s two to three times more than they could get on Airbnb.”
The same applies to We Peps where, for an average of €40 an hour, owners can pocket €225 after an organized event. “The rates here are greater, and owners won’t have to rent out their property very often to generate significant additional income,” Benjamin Pouthier points out.
At SnapEvent, prices are skyrocketing, ranging from around €100 to nearly €5,000 for a single event lasting a few hours. On top of this, various fees charged by the individual owners (anywhere from 5% to 10% of the rental price, depending on the site) are also deducted, all of which must be declared to tax authorities.
Not all property types and styles are suitable for these platforms. On SnapEvent, the most popular properties are quite personalized and uniquely decorated, with a living room area of 25 to 50 square meters.
Although these companies, which are strongly established in the Paris region, have encountered some difficulties reaching other major cities and rural areas, their willingness to spread throughout the country is very much in evidence.