Owning a property in a ski resort is not simply a matter of collecting rent during the season. The way that income is declared determines, often for several years, the net return on your investment. Between the LMNP status, the micro-BIC regime and the régime réel, the gap in taxation can be substantial. Recent legislative changes, in particular the 2025 finance law and the Le Meur law, have tightened certain advantages while preserving optimisation levers that many owners in the Tarentaise valley still overlook.
This article sets out the structuring principles of French taxation for furnished seasonal rentals in the mountains. It does not replace professional advice, but it gives you the reference points to approach the question with method.
Furnished seasonal rentals fall under BIC, not property income
The first essential distinction: a furnished seasonal rental is not taxed like an unfurnished lease. The rent you collect falls under industrial and commercial profits, known in France as BIC (bénéfices industriels et commerciaux), rather than property income (revenus fonciers). This classification opens access to specific regimes, including depreciation of the property, which does not exist for unfurnished lettings.
In practice, as soon as your resort apartment is let furnished to short-stay guests, you enter the scope of the BIC. The choice then comes down to two ways of declaring: the micro-BIC regime, flat-rate and simplified, or the régime réel, more technical but often more favourable.
LMNP as the general framework
The status of non-professional furnished landlord, known as LMNP (loueur en meublé non professionnel), is the framework that applies to the vast majority of second-home owners in the mountains. It applies as long as two conditions are met:
- annual rental income remains below €23,000, or does not exceed the household's other earned income (the predominance-of-income test);
- the landlord is not registered with the trade and companies register as a professional lessor.
Beyond these thresholds, the landlord shifts to professional furnished landlord status, known as LMP, with materially different social and tax rules. For an apartment let a few months a year in a resort, LMNP remains the most common situation.
The micro-BIC regime: simplicity versus limited optimisation
The micro-BIC regime applies a flat-rate allowance to your income, intended to represent all your costs. You deduct nothing actual: the tax authority considers that a fixed percentage of your rent covers your expenses.
The 2025 finance law changed the parameters of this regime, drawing a clear distinction between classified and non-classified furnished accommodation:
- classified tourism accommodation (meublé de tourisme classé): a 50% allowance, up to an income ceiling of €77,700;
- non-classified tourism accommodation: a 30% allowance, up to an income ceiling of €15,000.
This distinction makes obtaining the tourism classification particularly strategic. A classified property benefits from a higher allowance and a far higher ceiling, which broadens access to micro-BIC for well-let properties.
Micro-BIC is attractive for its simplicity: no detailed accounting, a lighter declaration. But it has a structural limit. If your real costs, loan interest, service charges, management fees, works, exceed the flat-rate allowance, you are taxed on a profit higher than your actual profit. This is frequently the case for a recently acquired property or one financed on credit.
The régime réel: depreciation at the heart of optimisation
The régime réel changes the logic entirely. You deduct your costs at their exact amount, then you depreciate the value of the property and the furnishings. It is this depreciation that constitutes the main tax lever of furnished letting.
What depreciation covers
Depreciation consists of deducting each year a fraction of the value of your property, to reflect its theoretical wear. In concrete terms:
- the building (excluding the land value) is generally depreciated over several decades, by components;
- furniture and equipment are depreciated over shorter periods, often five to ten years.
This depreciation is added to the usual deductible costs: loan interest, property tax, service charges, insurance premiums, management fees, accounting fees. Together they can strongly reduce, or even cancel for several years, the taxable result, without you paying out anything for depreciation, which is a purely accounting charge.
An important point: depreciation cannot create a loss. It is capped at the level of profit remaining after the other costs have been deducted, and any unused portion can be carried forward indefinitely to later financial years.
Deductible costs under the régime réel
Under the régime réel, the list of deductible costs is broad, provided they relate to the letting activity:
- loan interest and financing costs;
- non-recoverable service charges;
- property tax;
- insurance premiums (non-occupant landlord, rent guarantee);
- letting management and concierge fees;
- minor maintenance and repair works;
- accountant's fees.
This breadth explains why the régime réel often proves more advantageous, particularly for a recent property, one financed by loan or one generating significant management costs.
Micro-BIC or régime réel: how to decide
There is no universal answer. The decision depends on your precise situation, but a few markers help guide the analysis:
- if your real costs plus depreciation exceed the flat-rate allowance, the régime réel is generally more favourable;
- a recently acquired property, still carrying a loan, almost always leans towards the réel;
- a long-held property, debt-free and with few costs, can remain attractive under micro-BIC for its simplicity;
- the tourism classification markedly improves the appeal of micro-BIC thanks to the 50% allowance.
Opting for the régime réel is exercised within specific deadlines and commits you for several years. A costed simulation, taking account of your marginal tax rate and your real costs, remains essential before any decision. This analysis should be confirmed with a chartered accountant.
Social levies and the reality of net taxation
Assessing the taxation of a ski rental means looking beyond income tax alone. Rental profits under the BIC regime are also subject to social levies (prélèvements sociaux). The effective rate borne by an owner therefore combines their marginal income-tax band with these levies, which is why a regime that reduces the taxable base, such as the régime réel through depreciation, can have a marked effect on the final amount due.
This is also why comparing the two regimes on income alone is misleading. What matters is the taxable result after allowance or after real costs and depreciation, then the combined rate applied to that result. Two owners with identical rent can end up with very different tax bills depending on their regime, their financing and their marginal band.
The impact of the Le Meur law on furnished-rental taxation
The Le Meur law (law no. 2024-1039 of 19 November 2024) introduced a progressive tightening of the framework for tourism accommodation. On the tax side, it notably revised the micro-BIC allowances downwards, a move confirmed by the 2025 finance law. It also reinforced energy performance diagnostic (DPE) obligations for tourism accommodation, with a phased implementation over time.
These changes do not undermine the appeal of investing in the mountains, but they make tax management more demanding. The régime réel, in particular, gains relative relevance as the flat-rate allowances shrink.
Information current as of July 2026, indicative data that does not constitute personalised advice, verify with a professional.
Entrust your property to Serava
The tax performance of a seasonal rental is built in the details: classifying the property, tracking costs rigorously, producing supporting documents your accountant can use. Serava provides transparent, compliant management, with an owner portal that centralises your income, costs and accounting documents in real time. To assess the potential of your property and the regime best suited to it, request a free assessment.