LMNP in new-build property: tax benefits and how it works
Published on June 18, 2026 · LMNP & furnished letting
The non-professional furnished rental status (LMNP) is one of the most widely used frameworks for investing in new-build property. It applies to furnished letting and makes it possible to reduce the tax on your rental income, through two regimes to choose from. Here is how it works in detail in 2026.
In brief
Under LMNP, you let a furnished property (equipped to be lived in immediately) and your rental income is taxed either under the micro-BIC (a flat-rate allowance of 50 % up to 77 700 € of receipts per year), or under the actual regime (deduction of actual costs and depreciation). The status remains non-professional as long as the household's rental receipts stay below 23 000 € per year, or below its other earned income.
Furnished letting: what does it involve?
Furnished letting requires a property equipped with enough furniture to live in (bedding, fitted kitchen, storage…). It falls under industrial and commercial profits (BIC), not property income as with unfurnished letting. It is this difference that gives rise to the two tax regimes of LMNP.
Micro-BIC or actual regime?
| Criterion | Micro-BIC | Actual regime |
|---|---|---|
| Receipts ceiling | Up to 77 700 €/year | No specific ceiling |
| Principle | Flat-rate allowance of 50 % | Deduction of actual costs + depreciation |
| Accounting | None (simplified declaration) | Accounts required |
| Ideal if | Low costs, simple process | High costs, seeking optimisation |
The micro-BIC is the simplest: half of your rental income is automatically exempt, with no supporting documents required. The actual regime requires accounts but allows you to deduct your actual costs (loan interest, property tax, management, works…) and to claim depreciation. The most advantageous choice depends on your situation — an adviser can review it with you. No gain is guaranteed in advance.
Depreciation under the actual regime
Under the actual regime, LMNP allows the accounting decline in value of the property and the furniture over time to be taken into account: this is depreciation. In accounting terms, it reduces the taxable profit of the furnished letting activity. It is a regulated mechanism whose effect depends on each situation: there is no automatic or pre-quantified gain, and it requires diligent bookkeeping.
The non-professional threshold
The "NP" in LMNP stands for non-professional. You keep this status as long as your rental receipts do not exceed 23 000 € per year, or remain below the other earned income of your household. Beyond that, you move to professional status (LMP), which has different rules.
Why new-build?
Investing under LMNP in new-build property offers concrete advantages: a property to the latest standards (RE2020), with no works required, with builder warranties and reduced notary fees. It is a reassuring framework for lasting furnished letting. The JL HOME catalogue includes many eligible programmes, mainly studios and T1, the formats most in demand for furnished letting — particularly in large university cities.
The case of serviced residences
Part of the furnished offer is found in serviced residences: student, senior or business. These properties are managed by an operator under a commercial lease, which changes the logic of management (you receive rent from the manager). A VAT recovery may exist only under conditions (para-hotel services), but it is never automatic: the exact framework must be checked programme by programme.
Conclusion
LMNP remains, in 2026, a flexible framework for investing in furnished new-build property. The key lies in two decisions: the right tax regime (micro or actual) and the right programme (location, typology, management). Have your eligibility, optimal regime and the nature of the programme checked before committing.
