A step by step guide to each stage of renting an apartment in Monaco
We will help you all the way!
With over 15 years of experience in the Monaco real estate market, we have the experience to make your next move smooth and stress-free. From luxurious impressive apartments to studio flats, we have a vast range of properties to rent in Monaco. You can find a list of our latest apartments on our website but you can also contact us for more details as we manage a wide range of properties which are not advertised but can be available soon. Do not hesitate to tell us about any other apartments you have seen on other property websites. We will collaborate with other Monaco real estate agencies and organize all viewings for you. It is so much easier to have your Monaco property search in good hands!
Here is a detailed guide on how to rent an apartment in Monaco and apply for your residency.
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Residency requirements and eligibility
Monaco has a strict residency policy, and clients looking to rent an apartment here for their main primary residence need to meet certain criteria. To be a Monaco resident you must either own an apartment in Monaco or have a lease agreement for a minimum period of one year. Furthermore you should be able to prove your financial capacity to live here in Monaco. Learn more about what documents you need to apply for the Monaco residency here.
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Meet your Monaco Real Estate Agency:
The Monaco rental market can be extremely competitive and fast, but we can give tenants that contact us an unfair advantage. Once you have told us your requirements (budget, number of bedrooms, favorite district and timing) we help you be the first through the door of a property in our portfolio not on the market yet. We will also collaborate with all the Monaco real estate agencies to keep you up-to-date and find the right apartment even before it get advertised on property websites.
Consider an apartment perfectly managed by an agency for complete peace of mind. As a property manager we handle your day-to-day issues and an assistance if a problem arise.
In addition we will be happy to introduce you to our partners if you need a bank in Monaco, a legal advisory office for your new Monaco life administration, a tax advisors for your international business or if you need home staff.
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Monaco Apartments search and viewings:
Book your viewings online or call us directly to visit the apartments you are interested in. We will drive you to your viewings and accompany you throughout so that we answer any questions immediately and can share our local life experience.
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Rental offer and deposit:
Once you have found the right apartment for rent, you will need to sign our rental offer (Engagement de Location). This document includes information about you and outlines the terms of the future lease agreement including the rent amount, the rent duration, and any other important conditions. You will also need to pay a security deposit to us of three months’ rent + condominium service charges.
In order for us to draw up the rental offer letter we will need the following from you :
- Your valid passport or ID
- Your latest proof of residence (recent electricity bills for example)
- Your bank details in Monaco (including an attestation from a bank in Monaco to proof your capacity to pay the rent)
- Your occupation/work details to describe your profile to the landlord
Once we have submitted your rental offer to our landlords and it has been accepted, you will be asked to wire to us the security deposit.
In general when you rent an apartment in Monaco, the payments before entering into the apartment are the following :
- Security deposit payment to book the apartment is three months’ rent + condominium service charges
- Registration of the lease at the Monaco registration office is 1% of the annual rent + condominium service charges
- Agency fees are 10% of the annual rent + VAT 20% (payable only the first time)
- Bailiff costs if the inventory and inspection are not made by us but by a neutral third party
- Stamps and administrative costs can be around 20€ according on the contract type
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Rental offer accepted and rental contract completion
If you offer has been accepted and you have paid for the security deposit you are legally bound. You will loose your security deposit in case you decide to not rent the apartment anymore.
You can now pay the rental resting amount (agency fees, lease registration fees and first rental period).
We are preparing a draft of the rental contract which we will read together and translate for you if needed. The contract will be printed in three copies and signed by both the new tenant and the landlord (or us if we manage the apartment). It will be registered at the Monaco registration office (Tax Authority) and returned to us. Your copy will be given to you so that you can gather all documents and apply for your residency in Monaco at the Sureté Publique (Police).
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Insurance, electricity, internet…
If you rent an apartment in Monaco it is mandatory to have a home insurance. We work with great partners since a long time and we can provide you with a quick basic quote to insure your new apartment. We will put you in touch if you wish to adapt your insurance policy to your needs (cars, expensive belongings, art, healthcare).
It is also important that we establish your new electricity contract for your new apartment. You must get this electricity contract ready when starting the process of becoming a Monaco fiscal resident.
Home is where WIFI connects automatically ! We will take care of starting your subscription to a Monaco Telecom contract depending on your needs (television, internet, mobile phones, etc).
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Visas, banks, legal tax advisors
If you are about to start the process to become a resident of Monaco, you must look for a bank in the Principality. We have developed relationships based on trust and discretion with the best banks in Monaco. We will introduce you to a reliable dynamic person depending on your needs (private banking, corporate bank accounts, future property mortgage, etc).
Most of our clients relocating to Monaco to benefit from the absence of any personal income tax have an international business running. This is why we would like to introduce you to the legal and tax advisors we always worked with to reinvent a comfortable structure for your future.
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Entering your new home
We will agree together on date and time to go through the inventory together (or with a bailiff). On that day we draw up a report made of descriptions and photos which will be signed by both parties. Please let us remind you that if you are entering an apartment with brand new white paint, you will have to give back the apartment in the same initials conditions. We are here for that! Congratulations, you can now move into your new home in Monaco.
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We are your 24/7 landlords
If you need any assistance in case an issue arises or if you would like an information about daily life in Monaco, feel free to contact us. We remain at your disposal during the all tenancy and our full network is ready to help you. We love to build trust and long-lasting relationships with our clients.
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Your Monaco Residency Application :
Now that you received your registered lease contract and your electricity contract (SMEG), you are ready to apply for your Monaco residency permit. In order to submit an application to the Monaco authorities you will need to put together a list of documents and request an interview with the Sureté Publique de Monaco (Police).
Learn more about how to apply for your Monaco residency permit here.
Please note that the above steps to rent an apartment in Monaco are a general guidelines, each case might have unique requirements, so we will adapt the renting process to your profile and timing if necessary. We work closely to all our professional network in order to provide you an exceptional service and a local expertise. It is important for us make your Monaco property renting process smooth and stress-free.
Find your next home :
