{"id":6944,"date":"2026-10-24T18:24:56","date_gmt":"2026-10-24T16:24:56","guid":{"rendered":"https:\/\/balmontconseil.com\/blog\/cabinet-lyon-investissement-immobilier-locatif-defiscalisant\/"},"modified":"2026-10-24T19:12:19","modified_gmt":"2026-10-24T17:12:19","slug":"cabinet-lyon-investissement-immobilier-locatif-defiscalisant","status":"publish","type":"post","link":"https:\/\/balmontconseil.com\/en\/blog\/cabinet-lyon-investissement-immobilier-locatif-defiscalisant\/","title":{"rendered":"Which firm in Lyon is best for a tax-efficient rental property investment?"},"content":{"rendered":"
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In summary\u2026<\/h2>\n

The right firm is the one that shows you in writing the net profitability of the property after tax, before any tax benefits<\/b>, Then, what the added benefit is, line by line. As of October 24, 2026, the Pinel scheme ends (December 31, 2024). The new scheme remains, in particular. Housing recovery plan (Jeanbrun)<\/b> for purchases signed from February 21, 2026 to December 31, 2028, the land deficit, the LMNP and the LMP, the Denormandie until December 31, 2027, as well as, under specific conditions, the wealth schemes (Malraux, historical monuments).<\/p>\n

Balmont Conseil is a firm not independent<\/b> In regulatory terms: he receives commissions on contracts signed and can bill for a customized service by the hour. We tell you this from the very first contact.<\/p>\n<\/div>\n

A brochure advertises "up to 21% tax reduction" without specifying the property's selling price compared to similar sales, or who is being paid for the transaction. The reverse order should be followed: the property first, then the tax benefit.<\/p>\n

1. What still exists on 24\/10\/2026<\/strong><\/h2>\n

Seven devices, with the official figures<\/strong><\/h3>\n\n\n\n\n\n\n\n\n\n\n\n
Device<\/th>\nStatus as of 24\/10\/2026<\/th>\nOfficial figures to remember<\/th>\n<\/tr>\n<\/thead>\n
Pinel<\/td>\nEnded on 31\/12\/2024; the benefit continues for those who invested before then.<\/td>\nPurchase in 2024: 9, 12, or 14 installments of the price for 6, 9, or 12 years; capped at \u20ac300,000 per year<\/td>\n<\/tr>\n
Housing recovery plan (Jeanbrun)<\/td>\nPurchases from 21\/02\/2026 to 31\/12\/2028<\/td>\nDepreciation of 3 to 5.5 times 1,000 per year depending on the property and the rental level; a maximum of \u20ac8,000 per year per household.<\/td>\n<\/tr>\n
Property deficit<\/td>\nIn effect<\/td>\n\u20ac10,700 per year on total income; \u20ac21,400 for energy renovation paid for up to 31\/12\/2027<\/td>\n<\/tr>\n
LMNP \/ LMP<\/td>\nIn effect<\/td>\nRevenue threshold of \u20ac23,000; depreciation under the actual expense method<\/td>\n<\/tr>\n
Denormandie<\/td>\nUntil 31\/12\/2027<\/td>\n12, 18, or 21 % of the price for 6, 9, or 12 years; investment capped at \u20ac300,000; works representing at least 25 % of the total cost<\/td>\n<\/tr>\n
Malraux<\/td>\nCheck before any purchase (latest version of BOFiP read: March 2024)<\/td>\n22 % or 30 % of expenses; expenses capped at \u20ac400,000 over four consecutive years<\/td>\n<\/tr>\n
Historic monuments<\/td>\nIn effect<\/td>\nExpenses deductible from total income, in whole or in part depending on public access; retention period 15 years<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

The Pinel<\/b> ended on December 31, 2024: no new purchases benefit from it, but those who invested before keep the discount if they respect their rental commitment. The LMNP<\/b> It becomes LMP (Professional Furnished Rental) when revenues exceed \u20ac23,000 and also include your other business income. For sales since February 15, 2025, depreciation deducted under the actual expense method is removed from the purchase price when calculating capital gains, except for certain managed residences.<\/p>\n

Housing recovery: the new status of private landlords<\/strong><\/h3>\n

This is a new feature of the 2026 finance law. The property must be in a multi-unit building, either new or in an older, dilapidated building requiring renovations of at least 30% of the price, resulting in an energy performance certificate (DPE) rating of A or B. The acquisition date used is that of the notarial deed. It is rented out. naked<\/b>, in main residence, during 9 years<\/b>, The property is rented at a capped rent to a tenant who is neither a member of your tax household nor a relative by blood or marriage up to the second degree, and the lease begins within 12 months. You can deduct depreciation from your rental income, calculated on the price excluding the land, estimated at 20% of the price. Annual rates: 3.5% (new) or 3% (existing property with renovations) for intermediate rent, 4.5% or 3.5% for social housing, and 5.5% or 4% for very low-income housing. The \u20ac8,000 annual cap increases by \u20ac2,000 or \u20ac4,000 if at least half of the income comes from social or very low-income housing. Rental losses can be offset against total income up to \u20ac10,700.<\/p>\n

Intermediate rent ceilings for 2026, per month and per square meter excluding charges: \u20ac19.71 in zone A bis, \u20ac14.64 in zone A, \u20ac11.80 in zone B1, \u20ac10.26 in zones B2 and C (subject to approval). The option is irrevocable for the property, and upon resale, the purchase price is reduced by depreciation. According to the information sheet on service-public.gouv.fr, verified on July 21, 2026, a bill is expected to ease access to the scheme; as of October 23, 2026, the Senate file does not indicate that it has been definitively adopted. Review the information sheet before signing. See the principle and the 9-year commitment<\/a>, land deficit<\/a> and the devices still open<\/a>.<\/p>\n

2. What the firm should ask you, then show you<\/strong><\/h2>\n

First, your figures<\/strong><\/h3>\n

Income, assets, debts, holding period, borrowing capacity. Without your tax bracket, a benefit cannot be quantified. 2026 tax brackets per share: 0 (%) up to \u20ac11,600, 11 (%) up to \u20ac29,579, 30 (%) up to \u20ac84,577, 41 (%) up to \u20ac181,917, 45 (%) above that. Under the Housing Recovery Plan, \u20ac1,000 in depreciation saves \u20ac110 in tax in the 11 (%) bracket, \u20ac300 in the 30 (%) bracket, and \u20ac410 in the 41 (%) bracket.<\/p>\n

Net profitability after tax, before tax benefits<\/strong><\/h3>\n

Request a table that deducts your expenses (property tax, condominium fees, management fees, insurance, vacancy rates) from the annual rental income, then deducts the tax on rental income, and divides the remainder by the total cost (price, fees, maintenance). Under the actual expense method, loan interest paid during the year is deductible from rental income. This figure should be included. before<\/b> The tax advantage: if it is small, the advantage only compensates for it.<\/p>\n

The risk of overpaying for the benefit<\/strong><\/h3>\n

A tax advantage calculated on the price encourages paying more. Calculated using official rates, for \u20ac10,000 overpaid: under the Denormandie scheme at 21% (12-year rental period), the maximum tax reduction is \u20ac2,100; you would still have to pay \u20ac7,900. Under the Relance Logement scheme at 3.5% on 80% of the price, in the 30% bracket, the savings are \u20ac84 per year, or \u20ac756 over 9 years. In both cases, the additional cost is not recovered through tax.<\/p>\n

Two free checks: compare the price per square meter to actual sales in the municipality using the app. requests for land values<\/a> (data from the DGFiP, last five years, updated at the end of April and the end of October), and compare the planned rent to the ceiling for the area.<\/p>\n

Specifically.<\/strong> Demand a single page: price per m\u00b2 compared to neighboring sales, rent retained and zone ceiling, net profitability before benefit, tax benefit line by line, commitment period, and what is called into question if you sell before the term.<\/p>\n

3. The \u20ac10,000 limit and the commitment period<\/strong><\/h2>\n

The overall cap on tax benefits is \u20ac10,000 per year per household<\/b>, The limit is increased to \u20ac18,000 for certain overseas investments. According to economie.gouv.fr (page dated April 16, 2026), the Pinel, Denormandie, and Loc'Avantages schemes are included; the Malraux scheme is not. For the Relance Logement (Housing Recovery) program, the service-public.gouv.fr fact sheet specifies that this benefit is not included in this limit. See the capping of tax loopholes<\/a> and the Denormandie rates<\/a>.<\/p>\n

Each scheme requires: 9 years of unfurnished rental for the Housing Recovery program, 3 years of rental for the Land Deficit scheme, 15 years of preservation for listed historical monuments, and 6, 9, or 12 years for the Denormandie scheme. Failure to comply with the Housing Recovery program will result in the loss of the tax benefit and the deducted depreciation being added back to your rental income. For the Malraux scheme, please check the website: the BOFiP (March 2024 version) sets December 31, 2024, as the deadline for expenditures in deteriorated historic districts.<\/p>\n

4. Who bills what<\/strong><\/h2>\n

The seller<\/b> (The developer or owner) collects the price. advice<\/b> is paid by you, by a commission, or by both. Ask three questions in writing: what portion of the price you pay goes to the firm, in euros? Does it also charge fees? Who pays it if you don't buy?<\/p>\n

For the financial component (such as SCPI units), the engagement letter signed before any advice is given specifies the remuneration of the financial investment advisor, registered with ORIAS (source: AMF). For financing, we will put you in touch with our banking partners. At Balmont Consulting<\/strong> First consultation free, in Lyon or via videoconference; commissions on contracts signed; customized service at \u20ac500 including VAT per hour. Demand the same transparency from any firm.<\/p>\n

For the technician.<\/strong> Law No. 2026-103 of February 19, 2026, on the 2026 budget, Article 47 (Housing Recovery); General Tax Code, Article 31, I-1\u00b0, i and j, according to service-public.gouv.fr. Denormandie: Article 42 of the Law of April 9, 2024 (extended until December 31, 2027). BOFiP: BOI-IR-RICI-200-30 (Malraux, version of March 7, 2024), BOI-RFPI-SPEC-30-30 (Historic Monuments, version of December 19, 2018).<\/p>\n

Our position<\/strong><\/h2>\n

A tax break doesn't make a bad property good. Start with the price, the rent, and your tax bracket, then see what the tax incentive adds. If the property is unsustainable without the incentive, there's nothing to be done. Ask any firm to do this analysis, including ours: the single page in section 2 is enough to differentiate between two proposals. See also How to choose a wealth management advisor in Lyon<\/a>.<\/p>\n

Frequently asked questions<\/strong><\/h2>\n

Does the Pinel scheme still exist in 2026?<\/strong><\/h3>\n

Not for a new purchase: the scheme ended on December 31, 2024 (economie.gouv.fr, page dated March 11, 2026). Investors who purchased before this date retain their discount if they meet the conditions.<\/p>\n

Can multiple devices be combined in the same dwelling?<\/strong><\/h3>\n

Not always: Relance logement cannot be combined with Denormandie on the same property, and Denormandie cannot be combined with Loc'Avantages.<\/p>\n

How much does in-home support cost?<\/strong><\/h3>\n

The initial consultation is free. After that, we receive commissions on contracts signed, or we charge \u20ac500 (including VAT) per hour for a customized service. Before making any commitment, request a written explanation of the terms and conditions applicable to your specific case.<\/p>\n

Are you comparing two rental investment proposals?<\/b><\/p>\n

Send us both: the first exchange will focus on the price, the rent and the profitability before tax benefits.<\/p>\n

Book an appointment<\/strong><\/h2>\n

The initial consultation is to establish your exact situation and determine if there is anything that can be done\u2014sometimes there is nothing, and we will say so as well. Thirty minutes, with no obligation.<\/p>\n

Book an exchange with Balmont Conseil<\/strong><\/a><\/p>\n

Alexis Sagnier, financial and real estate investment advisor, insurance broker, AMF certified. ORIAS 13003497. Updated on 24\/10\/2026.<\/p>\n

Official sources consulted<\/strong><\/h2>\n