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Argentina - Renting Property
The real estate market in Argentina is growing at a steady pace. Rental prices are likely to rise soon as more expats come into the country looking for housing. There is also an increase in accommodation aimed at expats. The type of house you rent will depend on many factors such as how much you are willing to spend, the location of the house, the amenities surrounding it and so on.
Although Argentina's real estate has plenty of options, it may take a while to get what you want. With the current economy, it has become hard for most locals to pay mortgages on their houses. Renting is therefore the only option for most locals. This high demand in housing has affected the price of houses. However, you can still find the house you want if you know how and where to look.
Housing options in Argentina
Foreigners looking for accommodation in Argentina have a variety of choices to consider. You can decide to rent furnished or unfurnished apartments, homestays, or local Residencias. Many real estate companies are developing housing units that cater specifically to expats.
Furnished apartments are in the major cities like Buenos Aires. When you move away from the city, furnished units become scarce. You will also notice that the design for residential homes will vary depending on the region you are in.
City houses have an urban look to them. Residential units in the rural areas have a more rustic look. A town like Buenos Aires is full of European style houses. Move out to local village towns, and the rustic buildings resemble those you would find in Spain or Italy.
Expat students have the option of getting accommodation directly from their university. Some campuses partner with real estate companies to provide subsidized accommodation to students. A third option is settling for private housing units away from the university.
There are various types of housing units on campuses. These are single-room and double-room units or larger houses that fit at most four people. You will need to state in your admission papers if you prefer campus houses. The student is then charged per semester for accommodation. Students will find this option cheaper than renting private apartments.
Check with student housing agencies for any leads for student units for rent. Visit university notice boards and see what kind of housing units are on offer. Check with several campuses to increase your chances. Speak to student exchange coordinator or at the campus administration office for more options.
You can also research within your faculty and get contacts of students in their final year. They will be able to connect you to the hostel they rented rooms in. Word of mouth often makes finding student accommodation easier. Exchange contacts with as many students as possible to increase your chances.
What To Expect When Renting Property In Argentina
It is advisable to find a temporary place to stay before moving to a permanent house. Give yourself enough time to shop around and check different offers before making a final decision. Also note that some rental contracts will bind the tenant for two years before they are able to move on. So you need to be sure that the house you are moving into fits your accommodation plans.
There are plenty of temporary housing units for expatriates in Argentina. These include homestays, hotels and guest houses. Homestays are an affordable option for students. Migrants should be careful about if they are offered a sub-let, since housing laws in Argentina make sub-letting illegal.
As you hunt for a house, make sure you familiarize yourself with the neighborhood. Find out the convenient modes of transport around as well as amenities close to your home. What is the security of the area you live in? Is there an expat community living around you can be part of? Fellow migrants who have been around for a while can help you find a house that suits you.
Working with a real estate agency helps you find a house faster compared to looking by yourself. Local housing agencies understand the Argentinian real estate market better. They can also connect you to landlords looking for tenants.
The only downside of using an agent is the high commission you will pay. Agents charge a commission equal to a full month rent of the unit you are moving into. One way to waiver agency is to do an online search for houses. There are plenty of websites that give this information for free.
Both the landlord and tenant have to sign the rental contract. Rental contracts are valid for two years if it is a residential unit. Commercial units extend this period to three years. When the contract expires, the tenant has one of two options: they can either to move to another house, or extend their contract. You can extend their tenancy contract to 10 years at the most.
In addition to the contract, you will have to sign an affidavit known as convenion de desocupacion. This document gives the landlord the right to terminate the contract in case of a problem with the tenant. The tenant is then required to vacate the premise or risks being arrested.
You need to have a guarantor or garante witness the signing of the contract. The guarantor is accountable if you breach the contract in any way. A landlord has a right to charge the guarantor for rent if the tenant defaults. Your employer, business partner, or family member can stand as your guarantor.
Tenants have to pay one month’s rent and a security deposit when signing the contract. Landlords receive security deposits a month before the tenant moves in. Expats should be wary of landlords who ask for deposit two or three months prior. This is illegal according to housing laws in Argentina.
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