"Le Saint-Tropez" is the 'Coolest' Spot in Le Marais
(Note the Air Conditioning Top Right)

The Big Chill Factor

French Property Insider
Volume VIII, Issue 25
June 24, 2010
Paris, France
adrianleeds.com/frenchproperty/insider

• Printer Friendly • Recommend to Friends...it's FREE!
• Don't miss a single issue of French Property Insider! "Whitelist" French Property Insider by adding "fpi@adrianleeds.com" to your address book.

---

Transfer Currency and Save Money in the Process...
with Moneycorp

When you're buying a holiday home or investment property overseas, trading your currency can be a crucial cost factor. The euro exchange rate is constantly fluctuating, so trading at the right time will mean your money goes a lot further. Adrian Leeds Group, LLC and Moneycorp are working together to ensure you make the most of your Dollar or Sterling when buying a property in France or anytime you transfer from one currency to another.

For more information, visit: moneycorpconvertor.html

---

Bonjour French Property Insider Subscriber,

Finally, summer has arrived and temperatures are in the 80 degree neighborhood. That's when the windows open, the fans come out and anyone who is fortunate enough to have air conditioning, might be tempted to turn it on.

Paris doesn't see this kind of warm weather much during the year. In fact, July and August can boast of the warmest days, at only an average of 75 degrees Fahrenheit. This is one reason you won't see many apartments air conditioned, but it's certainly not the only reason.

In apartment buildings managed by a "copropriété" (homeowners association) (virtually every residential building in Paris), it is forbidden to install an air conditioning unit that requires one element situated on the exterior of the building in a common area without the authority of the "assemblée générale des copropriétaires" (general meeting decision) by majority, as decreed by "l'article 25 de la loi n° 65-557 du 10 juillet 1965." (Funny that the law was enacted during a warm summer month. I wonder how that happened?)

This means that very few apartment owners have the right of installing a central system without permission of the other owners. Portable units that use a hose connected to an exterior ventilation portal are the next best thing, but take up quite a bit of space and methods of creating the ventilation portal are not always ideal.

It's any wonder that so few apartments are "climatisé" (air conditioned) and that you are lucky to own or rent an apartment that is during the hottest days of the year. For short-term vacation rental apartments, this is a big advantage over the others during the summer months, in which there are fewer tenants and a glut of available apartments.

Are you surprised to learn that August is one of the lowest rental months of the year? The cities in France empty out on to the beaches between July 15th and August 30th, leaving many apartments vacant, shops and restaurants closed and only a small percentage of tourists willing to put up with the heat and a city void of residents.

Many people prefer Paris in August for just this reason. Plus the city itself provides many reasons to stay and enjoy all it has to offer at events such as "Paris Plage" and "Cinéma en Plein Air." For those who are interested in purchasing a property, August is not the time to visit properties, as not only are there fewer properties on the market, but neither the owners nor agents are on duty. That being said, I know a few savvy investors who have found the best property bargains during the month of August, as those that are on the market are those that need to sell for one reason or another and are willing to take a lower price.

If you are an investor seeking a Paris apartment which can be air conditioned with a central system, then you will want to look for a property which has an outdoor space that can accept the compressor -- such as a private terrace, interior "courette" or other spot which won't affect the other residents. We have one such client who discovered that the large "cheese box" in the kitchen window of her new apartment with a view of the Eiffel Tower would house the compressor! Yeah!

Either way, cooling off isn't necessary most times during the year, so don't let the lack of air conditioning prevent you from enjoying the City of Summer Light.

A bientôt,

---

Copyright 2011, Adrian Leeds®
Adrian Leeds Group, LLC, www.adrianleeds.com