Intermediate rental housing (logement locatif intermédiaire) allows you to buy a new home subject to TVA at 10% and to offset the property tax (taxe foncière) through a tax credit, via a legal entity and in return for 20 years of rent-capped letting. JL HOME will check your eligibility with you.
The JL HOME selection
LLI
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-contractualPrice reserved for rental investment, subject to conditions.
Expected delivery Q1 2029
*Offer Bouygues Immobilier, subject to conditions and availability of the homes concerned.
Residence image · non-contractualPrice reserved for rental investment, subject to conditions.
Expected delivery Q2 2028
Image of the forthcoming residencePrice reserved for rental investment, subject to conditions.
Expected delivery Q3 2028
Residence image · non-contractualPrice reserved for rental investment, subject to conditions.
Expected delivery Q2 2028
Residence image · non-contractualPrice reserved for rental investment, subject to conditions.
Expected delivery Q2 2028
Residence image · non-contractualPrice reserved for rental investment, subject to conditions.
Expected delivery Q4 2028
In brief
The LLI (intermediate rental housing) is an investment framework in the new-build, mainly in zones A bis, A and B1. The buyer, who must be a legal entity (an SCI, for example) benefits from a 10% VAT (subject to conditions) and a tax credit equal to the property tax for 20 years, in exchange for 20 years of rental to rent and income ceilings.
Why LLI
The property is bought with TVA at 10% instead of 20%, subject to eligibility conditions. At an identical price excluding tax, the price including tax falls by about 8%, not 10%.
Intermediate rental housing targets households 'too well off for social housing, too modest for the open market', meaning a broad rental demand in tight-market areas.
Property tax remains due, but a tax credit of the same amount is granted for 20 years (homes completed since 2023). This is not an exemption.
How it works
A new-build or VEFA home, located mainly in zone A bis, A or B1, or in certain communes outside these zones. The programme must also meet a social-housing mix requirement, which the developer guarantees.
The 10% TVA rate is reserved for purchasers that are legal entities: an individual buys through a company, for example a family SCI. Buying in one's own name does not entitle you to it.
The property must remain let under LLI conditions for 20 years. Otherwise, the additional TVA becomes payable; a resale avoids it only from the 11th year, subject to conditions.
Letting as a main residence, unfurnished or furnished, to households within income ceilings, with rents capped by zone and revised in line with the IRL.
⚠️ Letting under LLI conditions commits you for 20 years : it is a long-term wealth-building investment, to be factored into your strategy before you commit.
Zones & ceilings
The LLI primarily targets zones A bis, A and B1; some municipalities outside these zones are also eligible. For an unfurnished letting, the rent is capped by zone, in euros per square metre per month (excluding charges), with a coefficient that depends on the surface area, then revised according to the IRL.
| Zone | Rent ceiling (€/m²/month) | LLI eligible |
|---|---|---|
| A bis | 19,71 € | Yes (tight-market zone) |
| A | 14,64 € | Yes (tight-market zone) |
| B1 | 11,80 € | Yes (tight-market zone) |
| B2 and C | 10,26 € | Only certain communes |
Ceilings for leases signed or renewed in 2026 (€/m²/month, excluding charges, before the surface coefficient), identical to those of the intermediate level of the Jeanbrun scheme. Source: BOFiP, BOI-BAREME-000017.
Benefits
Subject to conditions, the purchase bears VAT at 10% instead of 20%. At an identical price excluding VAT, this represents around 8% less on the price including VAT.
A tax credit equal to the property tax, for 20 years. The tax is paid and then offset: this is not an exemption.
Held by an SCI subject to income tax (IR) and let unfurnished, the property falls under property income: deductible expenses and property deficit under standard rules. In an SCI subject to corporation tax (IS), rental income falls under corporation tax.
Capped rents are revised in line with the rent reference index (IRL).
For property income, the property deficit can be offset against overall income up to 10 700 € per year (excluding loan interest, ordinary scheme), rising to €21,400 for certain energy renovation works paid up to 31 December 2027. Benefits are presented for information only, subject to eligibility conditions: no gain is quantified or guaranteed.
Find out more
An individual accesses the LLI through a legal entity, for example a family SCI. If this SCI is to income tax, the same new-build home may also fall under the Jeanbrun scheme (private landlord status, in force since 21 February 2026), which allows an amortisation to be deducted from property income. The texts do not exclude this combination, but it requires complying with all the conditions of both schemes at the same time.
TVA at 10% instead of 20% on acquisition, subject to eligibility conditions.
A tax credit equal to the property tax (taxe foncière), over 20 years. This is not an exemption.
Each year, 3,5 % of 80 % of the price at intermediate level, deductible from property income, up to a limit of 8 000 € per year and per tax household. This is a deduction, not a tax credit of the same amount.
Key conditions : SCI under IR (no purchase in your own name for LLI, no SCI under IS for Jeanbrun); home in a collective building (houses excluded from Jeanbrun), located in an area eligible for LLI; unfurnished letting as your main residence, with capped rents and income; tenant outside your tax household and not a parent or relative by marriage up to the 2nd degree; 20 years of letting under LLI conditions (Jeanbrun alone requires 9: LLI sets the horizon).
On resale, the depreciation deducted reduces the acquisition price used to calculate the capital gain.
This presentation is for information and educational purposes only. Eligibility, structuring and the combination of benefits depend on your circumstances and are subject to conditions. No return or tax saving is guaranteed or quantified here. A JL HOME adviser will check your situation before any commitment.
The JL HOME catalogue
The LLI is a selective scheme: fewer programmes than average, but targeted at high-demand areas.
JL HOME catalogue data (new programmes available). Observed median price: 249 333 €.
Comparison
Each scheme serves a different objective. A factual comparison: an adviser guides you according to your situation.
| Framework | Logic | Rental | Commitment |
|---|---|---|---|
| LLI | VAT at 10% on purchase, plus a tax credit equal to the taxe foncière | Bare or furnished, main residence, capped | 20 years of rental |
| Jeanbrun | Depreciation deducted from property income | Bare ownership, main residence, capped, apartment building | 9 years of letting |
| LMNP | Furnished letting, reduced taxation of rental income | Furnished | No set duration |
| BRS | Separation of land ownership (reduced purchase price) | Main residence (owner-occupier) | Income conditions |
| PTZ | Zero-rate loan (financing, not a rental scheme) | Main residence (owner-occupier) | Conditions d'occupation |
Why JL HOME
LLI requires checking the zone, the structure (SCI), the long-term commitment and the rent caps. A JL HOME adviser reviews this with you before any commitment, comparing developments from several developers.
Where to invest
Towns from our catalogue, ranked by number of developments available. Explore them one by one.
Frequently asked questions
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