At the end of the 9-year retention period, imposed by the Censi Bouvard system, the owner will be able to resell his LMNP property, for tax purposes or for other reasons: new project, financing of the children’s studies, change in his family situation…
Some owners, on the other hand, will wish to keep their property in order to increase their wealth and receive regular income in a residence that they know and in which they have confidence. However, in this case, the investor will be heavily taxed. Indeed, the goods will not be depreciated in accounting terms, and the rents collected will be taxed at the income tax scale with the added bonus of social security contributions of 17.2%.
Thus in certain cases, it may be interesting for certain investors to opt for the micro BIC regime, in particular in the case where the investments have been made in cash, or in the case where the bank debt no longer exists.
But in the majority of cases, in 60% of cases (source Revenu Pierre), resale will be the chosen solution, taxation becoming confiscatory, especially for owners taxed at the marginal income tax rate.
If taxation will mainly push for resale, the date of this resale will be linked to the renewal of the commercial lease.
The most opportune time to sell is undoubtedly in the wake of the renewal of the commercial lease. Failing renewal, the potential buyer will ask for a risk premium and the rate of return will be higher, and therefore the price lower.
For a selling owner, the question is therefore whether his price will be optimized at the end of 9 years, when there are often still 2 to 3 years of lease left, or whether he has to wait for the operator to make a proposal. new lease, 2 or 3 years later.
As in the majority of cases, particularly in EHPADs, the rents at the renewal of the lease are lower than the current rents, the calculation is not simple and the non-professional owner will not have the analysis tools allowing him to choose on his own.
LMNP resale professionals, such as Revenu Pierre, will do this analysis and propose the alternative to the owner, with quantified arguments, because they will very often have already negotiated a future rent with the operator, even if the current lease still has a residual life. The resale of goods in LMNP being ultimately a rather specific sale, it is preferable to be accompanied by specialized platforms.
For a seller owner, the 2 possibilities will therefore exist, but it is quite reasonably accepted that his price will be slightly better after the renewal of the lease. Negotiation with the operator is naturally better when all the owners are involved (and sometimes “united”).
Each case is particular, we will retain that the owner’s choice will exist from the end of the 9-year period. He will be able to resell immediately or optimize his price while waiting for a new “collective” lease, or keep by adapting, or not, his tax regime (micro BIC or real BIC).