Tantiem - Risk and return review
Tantiem - Returns and loss rates
Investment maturity
Tantiem – Platform statistics 2026
Tantiem – Pros & Cons
About Tantiem
What it is
Tantiem is a Paris platform, founded in 2022, that lets investors earn the rent of let commercial buildings in French city centres from €100. Instead of buying the property, you buy a bond whose interest follows the net rent of one building. Its homepage shows 30 properties financed, €35 million raised and 40,000 members (read 30 October 2026; undated). Members are not all investors: the 2025 annual report counted about 6,000 investors and €21.3 million across 21 buildings at 31 December 2025.
How it works
Each building is bought by its own company, which issues €100 bonds to investors. The building is already let when the bond is offered. The net rent, after charges and fees, is paid into your account on the platform, and the bond is repaid when the building is sold after a planned 7 to 10 years. You get a share of the income and of the sale price, but no ownership and no voting rights. On 30 October 2026 one offer was open: a shop building in Metz (€2,918,000, 8% target). The site is in French only.
Returns
Tantiem paid an average of 6.8% a year in 2025, after its fees and before tax, calculated on rents actually received and weighted by amount (annual report, 31 December 2025). Current yields by building range from about 5.0% to 7.8%, with one building paying nothing from rent. The homepage advertises a target of 8% to 10% a year including hoped-for price growth; that is an estimate, not a result, and no building has been sold yet. A separately quoted 8.5% "historical" return is not explained. For French taxpayers the flat 31.4% tax applies to the income.
Losses and defaults
No loss has been reported, but no bond has reached its end yet. The platform claims a 0% default rate without a definition or date. The 2025 report shows full rent collected on 18 of 21 buildings. On a Lyon building (€1,061,400 raised) works were stopped by the heritage authority and no rent came in during 2025; Tantiem pays investors an interim 1.7% from its own pocket instead of the 6.9% targeted. On a coliving building (€984,000) works ran late and Tantiem paid the promised interest itself, and on a Lille building cost overruns were absorbed by cutting Tantiem's fee. So the 6.8% average partly relies on the operator topping up.
What secures your money
Each bond is secured by a first-ranking mortgage on the building in favour of investors, and each building sits in a separate company, so trouble at one building does not affect the others. There is no buyback, reserve fund or guarantee. Tantiem says each building is valued by an independent expert, but no current valuations are published: the €21.3 million "value of buildings" in the 2025 report equals the amounts raised. In plain terms: your income depends on the tenant paying rent, and what you get back at the end depends on the sale price, with the mortgage protecting you against other creditors of the building company.
Who runs it and its licence
The operator is Tantiem SAS, Paris (RCS Paris 918 626 243), founded by Thomas Penet, previously a director at the developer Cogedim, and Eric Prinet, formerly of A2C-Immobilier. It is authorised by the AMF, France's financial markets regulator, as a European crowdfunding service provider (FP-2025-03, since 29 October 2025), and is registered with the ACPR as a payment agent of Lemonway. Offers made before October 2025 were sold under the earlier French regime.
Fees
Investors pay no entry or exit fee; the 6.8% is already after fees. Fees are taken inside each building company: 8% of the amount raised when the building is bought, 5% of the rent each year, and a commission on any gain when the building is sold. On top come purchase costs such as notary fees.
Getting your money out
There is no working secondary market. A market organised by Tantiem has been announced since 2023 but was not running in October 2026, so your money is normally tied up until the building is sold after 7 to 10 years. Bonds can only be transferred privately.
Our view
Return: Low — 6.8% a year after fees in 2025, from rent actually paid. Risk: Low (higher means more risk) — let buildings with a first-ranking mortgage and separate companies, and full rent on 18 of 21 buildings; the 0% default claim alone would give Very Low, the lowest level, and we set it one step higher, at Low, because it is undefined, no bond has matured, no valuations are published and the operator tops up weak buildings. Risk-return: Medium — a modest rent income for a modest risk, with your money locked in for most of a decade.
Regulation
License / Regulation: AMF (France), European crowdfunding service provider authorisation under Regulation (EU) 2020/1503, number FP-2025-03, granted 29 October 2025 (AMF list of authorised providers; no passport indicated). Also registered with the ACPR as payment-service agent of Lemonway (REGAFI 732543).
Functionality
For Investors
For Fund Seekers
Useful Information
Yes. Tantiem SAS is authorised by the AMF as a European crowdfunding service provider (FP-2025-03, since 29 October 2025) and registered with the ACPR as a payment agent of Lemonway. Offers made before that date were sold under the earlier French regime. The licence does not protect you against losses.
Payments and investor accounts are handled by Lemonway SAS, a French payment institution authorised by the ACPR. Rent payments are credited to your account there.
€100, the price of one bond.
Investors received an average of 6.8% a year in 2025 after fees and before tax. No loss has been reported, but no building has been sold or bond repaid yet. Two buildings had problems in 2025, and Tantiem paid investors from its own funds on them.
Each bond is secured by a first-ranking mortgage on one let building, held in its own company. There is no buyback or reserve fund, and current building valuations are not published, so what you get back at the end depends on the sale price.
No. You hold a bond whose interest and repayment depend on the building's rent and sale price. You have no voting rights in the company that owns the building.
Not in practice. A secondary market has been announced since 2023 but was not running in October 2026. Bonds can be transferred only privately, and the planned term is 7 to 10 years.
No entry or exit fee for investors. Tantiem takes 8% of the amount raised when a building is bought, 5% of the rent each year and a commission on any sale gain, all inside the building company, so the 6.8% is already after these fees.
For French tax residents, the French flat tax (31.4%) is withheld at source on the income. Investors elsewhere should check their own country's rules.
The bonds are owed by the separate building companies and secured by mortgages, so they do not belong to Tantiem. But Tantiem manages the buildings and arranges their sale, so a failure could delay payments and repayment.
