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Renting in Argentina

buenos aires lease agreement 300x198 Renting in ArgentinaWe just finished negotiating our renewal lease and I’m very happy with the results –  a 23.3% increase for the first year and an additional 24.3% increase for the second year.

With inflation running at between twenty-five and thirty percent that’s a pretty good deal! As we pay building expenses separately, we’ll just have to see how much those increase…

Having just gone through the lease renewal, I thought it would be a good time to explain some of the aspects of long-term rentals in Argentina.

Let me start by saying that most expats are looking for short-term Buenos Aires rental properties. They need something for a short period of time,  need furnishings, need utilities (impossible without a DNI), and do not have a piece of property to put up as a guarantee. They’ll end up paying significantly more for those options. When you’re here for the long term, you’re looking at signing a residential lease agreement.

So, what does a long-term lease in Argentina consist of? Here’s the basics:

2-Year Term
The standard residential lease agreement in Argentina is for two years. At the end of that two years, you’ll need to renegotiate the lease for another two years if the apartment is still available from the landlord.

Security Deposit
Security deposits work pretty much the same they do anywhere else. These are typically one month’s rent and returned at the end of the lease term provided no damages have occurred.

Garantia
Argentina has very strong tenant protection laws. For a landlord to legally get someone out of their property it could take several years (seriously). During that time, they would be losing the rental income from that property. To help balance this out, they require a garantia (guarantee). A garantia is basically another piece of property that you own (or a family member owns) that you put down as collateral and guarantees that should they have to sue you, they will have something to claim if they win. Typically landlords in Buenos Aires prefer that this property is in Buenos Aires as well.

This is typically the single biggest obstacle for a foreigner to rent an apartment here as many do not have other property to use for the garantia. Some that are here with big companies get that company to put up the guarantee. Others get around it with paying 1 year+ of rent up front or making a much larger security deposit. There are a few options if you find an owner willing to work with you.

Rent Increases
As lease terms are two years and inflation is more than 25% a year here, you can expect a significant rent increase for the second year of the term. As I mentioned above, we negotiated a 24% increase for the second year which was pretty good. Some landlords try to add increases every 6 months though these are a bit less common. There’s pretty much no way around this.

Expensas
Expenses are typically extra in a long term lease. These expenses typically include things like building maintenance and staff salaries, ABL (property tax) and water bills. Depending on the size of the building and number of staff, they can be quite expensive. Our expenses are about 65% of our total rent and rise about 25% per year – in ine with inflation.

Utilities
You’ll also be responsible for utilities including electricity, gas, cable and Internet. To sign up for any of these services, you’ll need a DNI (the Argentine version of a social security number). Not having a DNI will make this impossible.

Commission
If you used a real estate agent to find your long-term rental, you’ll pay a commission of one to two months of rent.

Finding A Rental
There are a few different ways to find long-term rental listings:

  • The newspaper – classified listings are still king here. The Saturday paper has the biggest residential listings of the week.
  • ZonaProp.com .ar - the largest real estate listing site in Argentina
  • Solo Dueños – real estate listings by owner

That’s the basics of long term renting in Argentina. If you have any other questions or info to add, let me know in the comments below.

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Palermo Buenos Aires Apartment Rentals

After a lot of hard work, we’re happy to announce that our new Palermo Buenos Aires apartment rental is finished and ready to rent!

The Fitz Roy Suite is a modern 50 square meter, open one bedroom Buenos Aires rental apartment located on the best block in Palermo Hollywood, Fitz Roy between Guatemala and Soler. This block and surrounding neighborhood are home to some of the best restaurants in Buenos Aires: Osaka, Sudestada, Bio, Francisco, Romario, Miranda, Soberbia 22, and many more. You’re also walking distance to bars, shops, the subway, Palermo Soho and much more.

The building is new, and while you are in the heart of all the excitement of Palermo, this 4th floor apartment is remarkably quiet due to the beautiful tree-lined street. Our apartment has been furnished in a very modern, elegant style and provides all the amenities you could need, including:

  • Fully stocked kitchen with LG microwave/grill, refrigerator, gas stove, all plates, pots and pans, cutlery, cooking utensils, toaster, blender, coffee maker, wine glasses and more
  • Wood floors with high-end rug
  • Glass Isamu Noguchi coffee table
  • Dining counter with seating for three
  • Elegant lighting fixtures include chandeliers, halogen and spot lighting
  • Full bathroom with tub, shower, toilet and bidet
  • Hair dryer, clothes drying rack, vacuum, ironing board and iron
  • Air conditioner and heating unit
  • 32″ LCD TV with cable
  • Apple TV with Netflix
  • Surround sound stereo system with DVD, CD, MP3, USB and radio
  • iPod/iPhone speakers
  • High-speed wireless Internet
  • Cordless phone with local calling
  • Mobile pre-paid phone with local number to use while you’re here
  • US phone with unlimited calling to US and Canada and a number for people to reach you in the (347) area code
  • Luxurious La Cardeusse queen-sized mattress that may also be split into two twin beds
  • Couch with pull out bed that can accomodate an extra two guests
  • Private balcony with dining table and chairs
  • Programmable electronic security safe
  • All utilities, cable, and Internet are included in the price

The building also has a great pool and parilla (BBQ) on the roof. There is also a washing machine and dryer available in the building.

Here’s some photos of our newest Buenos Aires luxury apartment:

The rates vary based on the season. Please contact us for a quote. We accept cash, credit card and Bitcoin.

There is a $10/night charge for more than two people. Maid service is available for $40/cleaning. Check in is at 4pm and check out is at 10am though early check-in or late check out can be arranged for $45 each provided there are no overlapping guests on the same day. Our standard check in and check out time is from 8am – 9pm. Any check ins or check outs outside of these hours have a $45 off-hours charge. We offer significant discounts for longer stays and can accept payment in cash or credit card.

If you book with us, we’ll meet you at the apartment to check you in, give you an overview of the apartment and neighborhood, and answer any questions you may have. In addition, since we live nearby, we’re always available to help with any problems and can even store your luggage if you’re planning to do additional traveling.

If you’re looking for something a bit smaller, you can check out our other Buenos Aires apartment rental.

Please contact us if you’re interested in booking or just have questions about the apartment or BA in general.

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Buenos Aires Apartment Rentals

Our luxury Palermo Hollywood studio apartment in Buenos Aires is available for rent.

This beautiful Buenos Aires rental property is located on Humboldt between Charcas and Santa Fe – less than one block to the “D” subway and close to all the bars and restaurants in Palermo Hollywood. The building is less than a year old, and this quiet 4th floor studio is only three months old. The studio is 36 sq meters (387 sq feet) and faces the north so there is plenty of sun.

We furnished this apartment with all high-end finishings and appliances. It incudes the follow amenities and features:

  • Fully stocked kitchen with Whirlpool microwave/grill, refrigerator, gas stove, all plates, pots and pans, cutlery, cooking utensils, toaster, blender, coffee maker and more
  • Hardwood floors with high-end rug
  • Dining counter with seating for four
  • Full bathroom with tub, shower, toilet and bidet
  • Washing machine in apartment, drying rack, ironing board and iron
  • Air conditioner
  • 32″ LCD TV with cable
  • Apple TV with Netflix
  • Stereo system with DVD, CD, and radio
  • High-speed wireless Internet
  • Cordless phone with local calling
  • US phone number and free calling to the US and Canada
  • Glass desk, office chair and lamp
  • Custom-built Murphy bed with high-quality mattress. This makes the apartment!
  • Private balcony with dining table and chairs
  • Programmable electronic security safe
  • Lots of storage space
  • All utilities, cable, and Internet are included in the price

The building also has a great parilla and jacuzzi on the roof.

Here’s some photos of our Buenos Aires Studio Apartment:

The rates vary based on the season. Please contact us for a quote. We accept cash, credit card and Bitcoin for payment.

Significant discounts are available for longer stays. Check in time is 4pm and check out time is 10am. Late check out or early check in can be arranged for $45 each provided there are no other guests on that day. Weekly maid service is also available for $30/cleaning. We accept payment via cash or credit card, and you can feel confident renting from us as we live in Buenos Aires and are able to respond to any concerns quickly. Plus, we’re always available to give you suggestions and advice on bars, restaurants, attractions, or anything else. We can even hold your luggage if you have time before the airport.

Contact us if you’re interested in booking or getting more information.

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Studio Apartment Wanted: Palermo Soho or Palermo Hollywood

UPDATE: We found a studio apartment in Palermo and it is now available for rent.

If you happen to know of anyone selling a nice studio or reasonably priced one-bedroom apartment in Palermo Soho or Palermo Hollywood, please let me know.

Ideally looking for something new-ish, 30+ sq meters, lots of light, amenities, etc. Send an email to [email protected].

Thanks!

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