What is the PSLA, this somewhat unusual loan for accessing property at a moderate price in Montpellier ?

Premier intérêt d'un PSLA ? L'acquisition d'un logement à prix de vente réduit avec un statut de locataire accédant. Midi Libre – JEAN MICHEL MART

Acquire a home at a controlled price, while having the possibility of trying it out. This is possible with the social rental-purchase loan (PSLA). How it works ?

“Try it, you'll love it” says a famous advertising slogan. This is the principle of the PSLA (social rental-purchase loan), created by the government in 2004. Initially intended for new housing, it has also been applicable to old housing since 2020. The principle is very simple. If you wish, you can buy the social housing that you occupy, provided that you do not exceed an income ceiling.

A two-phase operation

The first phase is when the buyer occupies the housing for one year and pays a fee. The latter covers both the rent requested by the HLM operator and part of the purchase price, which will be deducted from the sale price, if applicable. “This rental phase allows the household's savings capacity to be tested, but also gives it time to confirm its desire to acquire the home or its desire to withdraw“, says Virginie Guisset, deputy director of proximity at Altémed.

The second phase concerns the acquisition itself. When the buyer wishes, and according to the conditions set out in the contract, he can then exercise his purchase option and become the owner of his home. From then on, the owner is required to repay the PSLA monthly payments. "The acquisition of social housing involves full ownership, which is more expensive than with a real joint and several lease", notes the deputy director.

Advantages and disadvantages

First interest: the sale price of the home is limited by a ceiling, as is the amount of the monthly loan repayments. Tenants who are entitled to housing assistance can continue to receive it after signing a lease-purchase agreement, both during the rental phase and during the repayment of the monthly payments.

In addition, as part of a construction program supported by a social housing operator, it is possible to benefit from an exemption from property tax on the desired home. Finally, PSLA beneficiaries can take out a zero-interest loan when exercising the purchase option.Last but not least, if the purchase option is not exercised, the HLM operator must offer at least three rehousing solutions.

On the downside, apart from the fact that access is reserved only for low-income households, signing a lease-purchase agreement with an HLM operator does not guarantee that you will become an owner. Indeed, if the operator judges that you are unable to repay the loan, the transfer may be refused. All that remains is to weigh the pros and cons.

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