Robien, Scellier, Duflot and Pinel… For years, real estate tax exemption schemes in new build have followed and almost all resembled each other. Their common point? A tax advantage on entry granted to the future lessor owner in return for a commitment to rent the property over six, nine, twelve or even fifteen years, this duration being variable according to the laws. Once you have reached this end, what to do?
To begin with, do not be mistaken with the release date of the device. “There is often confusion. As soon as they complete the tax return to benefit from their ultimate tax advantage, linked to this investment, the owners think that they can immediately sell their property. This is false, the starting point of the commitment begins on the date of the first lease. You have to be careful”insists Pascale Tardieu, financial investment consultant in Paris.
This “detail” is crucial, because, in the event of exit by mistake and before the term – even a few months – provided for by law, the taxpayer risks a tax reclassification and having to repay the tax advantages granted. “The exit conditions are different according to the laws. You have to go back to the rules of the device concerned. In 90% of cases, it is the date of the first rental, in others, it is the date of completion of the work, “ says Yves Mazin, partner at the wealth management firm Version Patrimoine.
When the deadline arrives, the choice is binary: keep the asset or sell it.
Whatever the outcome, it is advisable to anticipate the scenarios approximately two years before the end of the engagement. At this horizon, we often have an idea of the existence or not of added value. Some know they bought too much, while others struggle to rent their property because there are too many offers locally.
“If the operation was not profitable, it is better to quickly stop the costs”, says Philippe Parguey, CEO of Nortia. This is what Isabelle B did. Ten years after having “overpaid” an apartment under the Robien law in Lille (Nord), she has just sold it for 110,000 euros. “By taking stock of the inflows (sales included) and outflows from this operation, she earned 16,000 euros over ten years. If she didn’t get a good deal, at least she didn’t lose any money.”comments Yves Mazin.
busy sale
Another advantage of anticipating the sale: if there are less than three years left to run, strategically choose the last tenant. “Even if the lease is for a minimum of three years, we can manage to choose a household profile likely to be mobile before this term. It is an asset for the future liberation of the good”, explains Yves Mazin. In case of transfer, it will be necessary to deal with the tenant in place, “because the end date of the lease rarely coincides with the end of the rental commitment”emphasizes Pascale Tardieu.
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