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Housing in Monaco
 
 
 

Renting a Property

Rental properties can generally be found through local Real Estate Agents who have letting departments, local classified papers or word of mouth. Once you have found an appropriate property there are certain necessary procedures to follow.

The Lease

The tenancy contract that stipulates terms and conditions of rental and rental rates, signed between the landlord or estate agent (on behalf of the lessor) and the lessee.

Write and sign an inventory, with the lessor, to accompany the lease agreement. List fittings, fixtures and their condition and the condition of the property.

Rent can be raised annually, either to an amount and on a review date agreed in the tenancy contract, or in the absence of this, it can be raised annually on the date of the signing of the contract.

Documentation

The landlord/agent has the right to request proof of income. You may have to provide details of a guarantor who will be named in the contract and who will stand surety in the event that you cannot pay the rent.

Deposit

The refundable deposit is usually the value of two months’ rent, paid up front on the signing of the lease agreement. In addition, the first month’s rent must be paid at the same time.

At the end of tenancy and on the return of the keys, the landlord/agent has up to two months to reimburse the deposit, deducting any money needed for repairs to the property.

In the event of dispute, refer to the inventory. If you feel an unnecessary amount has been deducted, you may request to see the estimates for work done. It is illegal to hold back the last months’ rent in lieu of the deposit.


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