A new fractional real estate investment platform, Tantiem, has just launched in a context where the purchase of direct housing is increasingly complicated and less and less profitable given the rise in borrowing rates and the maintenance costs or the burden of local taxation. Tantiem proposes to a community of investors to finance a property that they could not acquire alone and takes care of all the rental management. It can be housing, offices or shops. Everything is done online, via the website or a mobile application.
From 100 €
Part of the rents and any capital gain on resale are paid to each investor in proportion to their stake, which can start from €100. This entry ticket thus makes it possible to democratize access to rental real estate but also to savers to diversify their investments, provided of course that Tantiem manages to regularly propose an attractive offer.
Registered bonds
Tantiem offers bonds to the public and files a detailed description of each of the projects financed with the Autorité des Marchés Financiers. The return on these bonds (with a unit value of €100) is based on the potential net rents generated by the property, after deduction of charges. The bonds are registered in an account with Tantiem and are registered and numbered in accordance with the Monetary and Financial Code. Tantiem thus specifies that the investor does not legally become the owner of the real estate asset but of a financial right proportional to his investment, relating to the rents and the possible capital gain during the resale.
Beware of the lack of liquidity
The target investment horizon is 8 years maximum. Beware therefore of the lack of liquidity of this investment even if Tantiem will offer for the first investments a possibility of redemption of the shares after a minimum holding period of one year and with application of early exit fees. In a second step, Tantiem intends to set up a stock exchange for the resale of shares between investors.
Everything will depend on the quality of the goods offered.
The first properties on offer seem promising: these are shops in the hypercentre of Bayonne with a target IRR of 7.4% over 8 years (excluding market capital gains) and residential assets rented in co-living in Lille (IRR target of 5.5% over 8 years). Tantiem also recognizes that one of its competitive advantages is played on the quality of the properties that will be put on the market and announces that its team of real estate professionals retains only 2% of the assets studied in order to obtain the best return/risk balance.
Taxation
It should be noted that the taxation is quite advantageous since, as with real estate crowdfunding, income and capital gains are taxed on the basis of the flat-tax at 30%. At a time when real estate prices have begun to turn around, capital gains will however be more difficult to obtain in the future, knowing that Tantiem also applies a commission of 6 to 8% when subscribing.