Rental investment in Marrakech can work, and it can also disappoint. The difference is almost never the market. It is whether the buyer calculated the real return before buying. This is the method we recommend.
Choose the type of rental first
Long-term lease: steady income, lower rent, little management. Furnished apartments in Guéliz and Hivernage are the usual product, see our long-term rentals. Tourist rental: higher income per night, more work, more costs, and an authorisation to obtain. See Airbnb tax in Marrakech.
The net yield formula
- Annual rent you can realistically collect (not the best month).
- Minus management, cleaning, repairs, insurance, service charges and vacancy.
- Minus the tax on rental income.
- Divide by the total purchase cost, including notary and registration fees and furnishing.
Run it with a cautious scenario and a good one. If only the good one works, the project is fragile.
Where the money is lost
- A vacancy period longer than planned.
- Poor furnishing that reduces the nightly rate.
- A property too far from where guests or tenants want to be, see the best areas for short-term rental.
- No local manager.
- Resale problems at the end, because the property suits only one use.
Financing and currency
If you borrow, check the loan currency against the rent currency. Rent in dirhams repays a dirham loan comfortably; a euro earner with a dirham loan carries an exchange risk. See mortgages for non-residents.
A realistic expectation
We would not promise a specific percentage, because it depends on the property, the season and the management. What we can say is that well-located, well-maintained apartments and riads are easier to rent than very large villas, and that the buyers who do well treat it as a business with a spreadsheet, not a hobby.
Frequently asked questions
Is long-term or short-term rental more profitable?
Short-term can earn more per year but costs more in work, cleaning and vacancy. Long-term is steadier and simpler. Compare both with net figures.
Do furnished apartments rent better?
In Marrakech, furnished apartments are the standard for expatriates and long-stay guests, and they usually command a higher rent than unfurnished ones.
How much should I keep in reserve?
Plan a reserve for repairs, vacancy and unexpected charges, equal to several months of rent. It prevents forced decisions.
Want us to run the numbers on a specific property? Send us the link, or browse apartments for sale.