Virtually all the properties we sell are sold freehold (accept the Lease-back development in Avoriaz) and there will not be any restrictions on sub-letting, in fact gaining a rental return is entirely normal.
As far as renting via an agency is concerned there are many to choose from in each town and many methods. Much of what I have written below is Morzine biased, this is where I work!
There are a number rental options, each with advantages and disadvantages. They are not all available to all properties! I will list them as I see them. The first offers lowest risk for least return, the balance moves from return to risk as you descend the list!
1. You can choose to rent your apartment on a yearly basis, for a fixed fee to a company that specialises in self-catering holidays. You an negotiate some weeks for yourself or you can negotiate a discount for weeks you want to rent.
Example: Alptitude, a specialist in Morzine
http://www.alptitude.com/index.php?page=page0&season=winter&lang=en
Example: Holiday in the Alps a specialist in St Gervais
http://www.holidayinalps.com/
Advantages:
- Most secure form of rental return
- If you choose the tenant carefully they will look after the property well, dealing with maintenance issues, taxes, Internet etc.
- Minimum input from the owner
Disadvantages
- Offers the lowest returns
- Property will need to be in a good location, this type of company will see that as a priority.
2. You can use one of the independent chalet operators in the area, they often have one chalet that they cater and then up to a dozen they arrange as self-catering. This type of company will often try to negotiate a percentage fee (up to 30%), for this they will arrange the booking, key holding and the cleaning etc.
Example: The Great Escape
http://www.thegreatescapemorzine.co.uk/accommodation-morzine.htm
Example: Mountain Highs
http://www.mountainhighs.co.uk/SelfCateredHoliday.htm
Example: Snow and Trek
http://snowandtrek-morzine.com/self-catered/index.php
Example: Ski Fusion (based in Les Carroz)
http://www.skifusion.co.uk/
Advantages
- There may be the occasional unbooked week that could be used by the owner for a cheap holiday at the last-minute.
- More flexibility for booking in friends etc.
- If there are good bookings this can offer better returns than choice 1
Disadvantages
- Riskier for the owner as they don’t offer any rental guarantees, this risk can be reduced by choosing an established company.
3. You can use an Internet based agent who will handle all the booking and cleaning, in theory for a lower percentage fee (about 20%)
Example: White Peak a specialist in Chatel
http://www.white-peak.com/
Example: Alps Accommodation a specialist in Samoens. http://www.alpsaccommodation.com/
Holiday Lettings has lots of advice on the subject. http://www.holidaylettings.co.uk/resources/owner_advice/a-1/
http://www.morzinelets.com/
http://www.skiweekends.com/pages/resorts/morzine.aspx?ResortID=13
http://www.independentmountain.com/
http://www.alplets.com/
Advantages
- There may be the occasional unbooked week that could be used by the owner for a cheap holiday at the last-minute.
- More flexibility for booking in friends etc.
- If there are good bookings this can offer better returns than choice 2
- Internet based administration can be convenient
Disadvantages
- Riskier for the owner as they don’t offer any rental guarantees, this risk can be reduced by choosing an established company.
- If the agency does not care about your property the wear and tear can be quite high. This can depend on their clientèle too.
- Choose your Internet based agent carefully, they can be excellent but there is more room here for cowboys.
4. You could use an Internet based “Bulletin Board”, these businesses charge a fee for you to advertise, you handle the booking and arrange cleaning and key holding via a local person or agency. My Mum uses Owners Direct for a property on the outskirts of Morzine, it costs £200 or so to advertise, she does very well and uses a local girl for the cleaning etc. This method is a lot of work for the her, offers the renter no guarantees (they can’t book with a credit card and the owner has no form of bonding) but can give the best returns.
Examples:
http://www.chaletfinder.co.uk/
http://www.ownersdirect.co.uk/
Advantages
- There may be the occasional unbooked week that could be used by the owner for a cheap holiday at the last minute.
- More flexibility for booking in friends etc.
- If there are good bookings this can offer better returns than choice 3
- More “hands on” can be more fun and it may give the owner the chance to “vet” the occupiers.
Disadvantages
- Riskier for the owner as there are no rental guarantees.
- The owner will have to find local people to deal with the changeovers / cleaning and any problems.
- If there are problems or damage the owner might be called upon to arbitrate, this can be difficult on the phone!
5. The traditional method, use one of the local French estate agents or the local Tourist Information Bureau , they will take a fee (about 25%) and handle the bookings and cleaning for you. This should probably be put between 2 and 3 in the income VS risk list.
Advantages
- An established system, will probably be entirely legal.
- Local agents normally have very good contacts with local tradesmen.
- You may find that a particular agent will have an affiliation with a particular apartment block, this can help.
Disadvantages
- No guarantees though, the owner will take all the risk. You will do better in the best locations. You might get nothing in a bad location!
- Just because the agent has good contacts with local tradesmen it does not mean any maintenance work will come cheap.
- Choose wisely, not all agents are fully Internet or email aware yet, this can come as a shock.
Confused? You shouldn’t be. I am just illustrating how this is a very mature market and that there are a lot of options open to you.
Posted by Gareth 
