The Montparnasse District of France is very historic, very pretty and can be quite competitive. You may be thinking that as a renter, “How can it be competitive? After all, the rental rates are so high.”
That’s what makes it competitive because there are lots of people bidding up rental units in this space. It’s easy to see why. It’s a very beautiful place. It definitely has a lot of history. A lot of artistic, sophisticated and high net worth people from all over the world would like to have a piece of Montparnasse.
After all, a piece of this real estate region is really a piece of French cultural legacy. If you’re going to have a second home at any spot of this planet, chances are you’d probably would want it either in a sub-urban Paris, in the Manhattan section of New York city or somewhere else that’s very, very nice or very well renowned.
Interestingly enough, the Montparnasse area qualifies for all three. It is very nice. It is very renowned. It is quite sophisticated. It is no surprise that people from all over the world bid up the real estate market here. The rents are sky-high precisely because people want to move here.
As competitive as it is, people are still very discriminating. In other words, people who are looking to rent here are not just going to take any unit. You can’t just offer a ram shackle unit that you yourself would not want to live in and expect people to pay top dollar for. That simply is not going to happen.
You have to understand that this part of France is in high demand for very different reasons than other places on the world have high demand real estate. For example, in Manhattan, people bid up the price and rents of units there because they want to work in Manhattan. It’s really all about their job or their career.
Not so with Montparnasse. Usually, people move here for cultural enrichment. They move here for a change of place. They move here for a wide range of personal, emotional, and psychological reasons. And accordingly, since they are renting for those really personal reasons, they want the very best.
So you’re perceived value must be really high. So do yourself a big favor. Enhance the rental value of your particular Montparnasse unit by investing in outdoor lights. I know this piece of advice may seem basic. In fact, to a lot of people, it might even seem like common sense. But believe me, it’s quite rare.
Do yourself a big favor. Outdoor lights can definitely enhance the ambiance the people are looking for. It definitely takes the experience of people to want to spend time in your Montparnasse unit to a whole other level. Don’t be shy about it. Look at the impact on other rental units and make your decision accordingly.