Unfurnished letting & works
Renovate a home and build the works into your letting strategy.
The JL HOME selection
Property deficit
Selection based on information from the developer. The scheme's conditions and the applicable price should be checked for your project.
One example property available per development. Open a listing to see the unit shown and its price conditions.
Residence image · non-contractualPTZ possibly available for this property: main residence, subject to income conditions, first-time buyer status and bank approval.
Expected delivery Q1 2028
Residence image · non-contractualPrice subject to access conditions, to be checked with your adviser.
PTZ possibly available for this property: main residence, subject to income conditions, first-time buyer status and bank approval.
Expected delivery Q4 2026
Residence image · non-contractualPrice subject to access conditions, to be checked with your adviser.
PTZ possibly available for this property: main residence, subject to income conditions, first-time buyer status and bank approval.
Expected delivery Q3 2029
Residence image · non-contractualPrice subject to access conditions, to be checked with your adviser.
PTZ possibly available for this property: main residence, subject to income conditions, first-time buyer status and bank approval.
Expected delivery Q4 2028
Residence image · non-contractualPrice subject to access conditions, to be checked with your adviser.
PTZ possibly available for this property: main residence, subject to income conditions, first-time buyer status and bank approval.
Expected delivery Q2 2027
Residence image · non-contractualPrice subject to access conditions, to be checked with your adviser.
PTZ possibly available for this property: main residence, subject to income conditions, first-time buyer status and bank approval.
Expected delivery Q4 2028
How it works
A property deficit arises when deductible expenses exceed rental income under the actual-expenses regime (régime réel). The portion excluding interest may be set against your total income within the usual limit of 10 700 € a year, raised to 21 400 € for certain energy-renovation works paid up to 31 December 2027. The interest portion and any surplus can be carried forward against rental income, in principle for ten years. This is an income deduction, and its effect depends on the income tax (IR) scale that applies to you.
Build your project
Repair, maintenance and certain improvements may be counted. Construction, reconstruction and extension are excluded: the classification of the works comes before the calculation.
The calculation takes into account all of the household's property income and expenses. A building project cannot be simulated in isolation if you already own other unfurnished rental properties.
Global offsetting requires, among other things, keeping the property let until 31 December of the third year that follows. The timetable must remain consistent with your wider wealth plan.
The ceiling is raised to 21 400 € a year for energy renovation work that moves a home out of energy classes E, F or G (at least D after works), paid up to 31 December 2027. The simulator applies the standard ceiling of 10 700 €: if your works meet these conditions, the possible deduction is higher.
Worked example · illustrative assumptions
Hypothetical example: €12,000 of annual rent, €3,000 of interest, €2,500 of other charges and €30,000 of eligible works create a deficit of €23,500. The portion deductible from overall income is €10,700, and the carry-forward property deficit balance is €12,800. At a constant marginal tax rate of 30%, the indicative immediate income tax saving is €3,210.
Replace this example with my figures →Your conversation with JL HOME
The simulator provides an initial baseline. To move forward, we review your objective, your budget and the type of transaction you are considering. Your project documents then help refine the assumptions and the points requiring validation.
Holding period, income needs, financing capacity and taxation: explain what you expect from the investment.
Location, price, any works, lease and management: review the property documents before choosing a scenario.
Refine the budget and have the tax, accounting and legal aspects confirmed with the relevant professionals.
Frequently asked questions
Useful answers to help you place Déficit foncier in your project.
No. Their nature and the context of the works determine the treatment. Reconstruction and extension are not deductible under this scheme; an invoice alone is not enough to classify the item.
The share of the deficit arising from loan interest is offset against property income, not against total income.
The use of the carry-forward depends on your future rental income, on maintaining the conditions and on your tax position. The calculation shows a carry-forward amount, not an acquired refund.
No. Unfurnished letting falls under property income (revenus fonciers); furnished letting falls under BIC (industrial and commercial profits). The rules on deficits and depreciation differ.
Compare the options
Official sources consulted for this edition of 8 October 2026
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