Renting Property in Monaco

1 Cost

At this stage, the tenant pays 3 months' rent, plus condominium/building charges which are typically 10%of the rent and 3 months' rent deposit. Agency Fees are 10%+VAT of 1-years rent, Registration tax 1% of the lease term. Moving in Report/Inspection completed by bailiff approx.: 1000 euros (the agency conducts this inspection in some cases).

2 Rental Term

The minimum rental term in Monaco is one year. However, a 3-year term can be negotiated with the landlord. A standard lease is payable each trimester. Most leases have a 3-month notice period, which is extremely important to respect because the lease will automatically renew for another year in most cases.

3 Registration

All leases in Monaco are registered with the government, apart from garages and storage rooms. This registration usually takes two weeks.

4 Wear & Tear

In Monaco, there is no 'wear and tear', meaning the property must be returned to the landlord in the same condition you received it.

This lack of 'wear and tear' can often lead to disputes between the two parties.

With our extensive experience, BALKIN ESTATES-KNIGHT FRANK MONACO will guide you through the process to avoid any issues.