Investing under the Jeanbrun scheme means committing to rent an unfurnished unit as the tenant’s primary residence for at least nine years, with a capped rent and tenants who meet income ceilings. When the purchase is financed by a loan, the monthly payment is deducted every month, whether the rent is paid or not.
Why 9 years of commitment changes the game
The Jeanbrun, created by the 2026 Finance Law, covers investments made between February 21, 2026 and December 31, 2028. Unlike Pinel, which offered a choice between 6, 9 or 12 years, it imposes a single nine-year duration, with three levels of rent caps: intermediate, social, or very social. If the commitment is not honored, the tax advantage is forfeited.
The landlord cannot raise rent beyond the cap to absorb a month without income, while the loan payment does not depend on the rent collected. Over nine years, a single defaulting tenant is enough to imbalance the budget.
Concrete risks over the term
Unpaid rents
Unpaid rents are handled in stages: reminders, formal notice, then a judicial procedure. The winter break, from November 1 to March 31, generally suspends evictions, which can extend the period without income. The loan, condo fees, and property tax remain due, hence the benefit of taking out rent default insurance.
Damages to the dwelling
The security deposit is limited to one month’s rent excluding charges for an unfurnished rental. It may not be enough to restore the dwelling.
Early tenant departure and vacancy
The tenant can leave with a three-month notice, reduced to one month in a tight market or in certain cases, such as a relocation. The unit must remain rented continuously for nine years, with a new tenant meeting the same rent and income ceilings. Each month of vacancy weighs on cash flow.
Choosing your tenant from the start
The first protection remains the application file. Insurers generally require net income of at least 2.85 to 3 times the rent including charges, i.e., a debt service around one third, verified by pay stubs and the tax assessment. Jeanbrun adds a second filter: the tenant’s resources must not exceed a cap, set according to the area, household composition, and the level of rent.
Protecting yourself with rent default insurance
Rent default insurance, or GLI, is a policy held by the landlord. If the tenant stops paying, the insurer reimburses the unpaid rents and charges. For an investment under the Jeanbrun law, taking out a rent default insurance is to secure the cash flow that funds loan repayments during the entire commitment period.
A GLI generally covers three components: unpaid rents and charges, with ceilings of €70,000 to €120,000 depending on the contracts and a compensation period of 24 to 36 months; damages beyond the security deposit, often capped between €7,000 and €10,000; and procedural costs, such as bailiff and attorney fees.
With an ongoing loan, the indemnity allows continuing to repay the monthly installments during the procedure without dipping into savings. The cost is between 2 and 4% of the annual rent: for a rent of €700 including charges, i.e., €8,400 per year, the premium ranges from €168 to €336, less than half a month’s rent.
The tenant must meet the insurer’s criteria. The GLI does not stack with a personal guarantee, except for a student or apprentice (Article 22-1 of the Law of July 6, 1989). Before signing, compare ceilings, indemnification duration, the deductible, and exclusions.
Other solutions (Visale, guarantor) and their limits
Visale, Action Logement’s free guarantee, is the leading alternative. Since January 6, 2026, it covers the first three years of the lease, i.e., up to 36 monthly payments, and damages up to two months of rent including charges. The rent including charges cap is €1,940 in Île-de-France, €1,575 in major urban areas, Corsica, and the overseas departments, and €1,365 elsewhere. Its limit for Jeanbrun depends on duration: after three years, the guarantee ends and the tenant must reapply, with no certainty of continued eligibility.
A guarantor from a relative, also free, relies on the solvency of a single person, which can evolve over the nine years.
