Agency Demanding Large Deposit?

[citygirl]

Look - I'm sure there are people who rent their apts out with less than a month's security deposit. If you've found one - congrats. But asking for a month's deposit isn't unheard of and it's not taking advantage of stupid foreigners to ask it nor is someone asking for it a "red flag".

I'm very trust-worthy, I've always gotten my full deposit refunded but I personally have NO problem with a person asking for a month's deposit. It seems completely reasonable given they are renting me an apt worth a few hundred thousand dollars and that is furnished. And the value of the furnishings far exceeds that deposit.

To clarify - I'm talking about long-term rentals. Yes, if I was renting for a week, I would be surprised if they asked for a month deposit and I probably would keep looking. But if I sign a 6 month lease, I personally have no problem paying a month deposit.

Shrug - I've rented apts for many years, in lots of major cities and it's always been a standard clause. YMMV.

 

[polostar88]

Actually, I don't have a reason other than to contribute my knowledge to this forum. Yes I rent the apartments I own, but no I don't advertise on here. Specifically for this reason. I'm here to contribute and pass the time.

And no most people on here aren't saying the same. Except the guy advertising on here, even though the agency he works with says something completely different.

http://letsgoargentina.com/home/propview.php?id=AP365

The website is asking for 2 WEEKS rent for his apartment ( $ 795 on a $ 1295 apartment which is reasonable, but not $ 300 ).

I just asked to see the type of apartment you rented for a $ 200 damage deposit, I didn't expect you to get all shady about it and refuse to post a link as if in some way that was wrong.

People post links to websites and apartments they rented here all the time. I'm just wondering why you wouldn't do the same. Chances are either you made a really good side deal with an owner, one they won't be willing to reproduce with another client or this never really happened.

Yes that's it...I lied about everything, and so did the other people here...we did it just to put ideas into the heads of people who read this site looking for apts. and thereby hurt your business practices of getting interest-free loans from your clients under the label of "deposit."

j/k but seriously...I think I've said this several times...if i were an owner I too would charge certain people larger deposits and others less...it all depends. And some people I wouldn't rent to no matter how large a deposit they left.

As for pics, my apt. was comparable to that of poster jez.

 

[SaraSara]

Time for a dumb question: what makes an apartment "high end"? Besides the neighborhood, I mean.

 

[citygirl]

SaraSara - I would say type of building, quality of apt/constructions, services and amenities and the type of furnishings, etc.

 

[AlexfromLA]

People who spend $ 200.000 usd + cash on an apartment don't need $ 1000 loans. It sounds like the people scraping together $ 200 usd for a damage deposit are the ones in need of a loan. I could help you out btw, but not interest free.

J/K, but seriously. I get your point. But you are misinforming people into thinking it is reasonable and common place to rent a fully furnished short term monthly rental for a $ 200 damage deposit. It might happen from time to time, but it is not common place.

It's like me saying it common for Spain to win the world cup ( LMAO ).

What is common is a full months rent. Especially if you deal with an agency. Although you might have more leeway with an owner, you make it seem as if an owner asking for a full months rent is preying on foreigners and thats just wrong and completely removed from reality. An owner who asks for a reasonable damage deposit is only looking out for his investment and trying to minimize his risk just like any normal individual would.

And for the record, I have rented a couple of my apartments with zero deposit, mostly to friends or people that have been renting from me for years, but to think I would give the same deal to any joe walking down the street is not true or reasonable and is misinformation.

The standard is 1 months rent, certain circumstances allow for deviations, but this is the norm.

Yes that's it...I lied about everything, and so did the other people here...we did it just to put ideas into the heads of people who read this site looking for apts. and thereby hurt your business practices of getting interest-free loans from your clients under the label of "deposit."

j/k but seriously...I think I've said this several times...if i were an owner I too would charge certain people larger deposits and others less...it all depends. And some people I wouldn't rent to no matter how large a deposit they left.

As for pics, my apt. was comparable to that of poster jez.

 

[AlexfromLA]

Time for a dumb question: what makes an apartment "high end"? Besides the neighborhood, I mean.

Neighborhood, building, professional design, quality of furniture, quality and quantity of appliances, quality of bed, bed linens, bath towels, frequency of maid service etc. Some properties even come with Concierge service.

Something comparable to what you would find in a suite at a high end hotel.

That being said, even mid range apartments do and have every reason and right to charge a full months rent as a damage deposit.

I am American, but I find it distasteful when I see or hear American's trying to take advantage of people under the guise of not being taken advantage of first.

Any owner in any country has the right to protect his investment, even symbolically by asking for a reasonable damage deposit. Only people who have never owned investment property ( and are a tad shady ) would think otherwise.

 

[polostar88]

People who spend $ 200.000 usd + cash on an apartment don't need $ 1000 loans. It sounds like the people scraping together $ 200 usd for a damage deposit are the ones in need of a loan. I could help you out btw, but not interest free.

J/K, but seriously. I get your point. But you are misinforming people into thinking it is reasonable and common place to rent a fully furnished short term monthly rental for a $ 200 damage deposit. It might happen from time to time, but it is not common place.

It's like me saying it common for Spain to win the world cup ( LMAO ).

What is common is a full months rent. Especially if you deal with an agency. Although you might have more leeway with an owner, you make it seem as if an owner asking for a full months rent is preying on foreigners and thats just wrong and completely removed from reality. An owner who asks for a reasonable damage deposit is only looking out for his investment and trying to minimize his risk just like any normal individual would.

And for the record, I have rented a couple of my apartments with zero deposit, mostly to friends or people that have been renting from me for years, but to think I would give the same deal to any joe walking down the street is not true or reasonable and is misinformation.

The standard is 1 months rent, certain circumstances allow for deviations, but this is the norm.

I'm saying what I know from experience and I added I have a way with landladies/pretty cougar real estate agents

Tomorrow my cougar real estate agent from a previous rental is handing me over the keys to a $1250/month apt with no deposit at all.

 

[SaraSara]

Thanks for the explanation, Citygirl and Alex - I know nothing about apartments, and what makes them special.

But I do know about destructive tenants. We rented our house here for a few years while we were in the US, and the havoc people left behind would not be fixed even with six months' worth of rents.

One of our tenants dug up half the bushes in the yard so his children could play soccer. Some of those trees were twenty years old, and very expensive to replace - US$450 apiece. Another guy got angry because we wouldn't sell him the house and walked away with the light switch-plates, all the ceiling fixtures, the fuse box master trip-switch, and the pool pump. Another tenant totaled half of the kitchen cabinets doors - must have allowed his four kids to swing on them. We did not mind because we were going to remodel anyway, but replacing those doors would have been at least three months' rent. The list is endless.

Finally, we got sick of the hassle and just left the house vacant for seven years. We were told vacant houses deteriorated quickly, but our tenants were far more destructive.

These were all well-off Argentines, people with two cars and two live-in maids.

 

[polostar88]

Neighborhood, building, professional design, quality of furniture, quality and quantity of appliances, quality of bed, bed linens, bath towels, frequency of maid service etc. Some properties even come with Concierge service.

Something comparable to what you would find in a suite at a high end hotel.

That being said, even mid range apartments do and have every reason and right to charge a full months rent as a damage deposit.

I am American, but I find it distasteful when I see or hear American's trying to take advantage of people under the guise of not being taken advantage of first.

Any owner in any country has the right to protect his investment, even symbolically by asking for a reasonable damage deposit. Only people who have never owned investment property ( and are a tad shady ) would think otherwise.

There's something bizarre about your aggressive lobbying on this thread, calling people shady, saying $1400/month apts. are "low end," etc.; though other people keep telling you that it's normal in BA to ask only for a small deposit, you keep insisting that it's not. Now, I have nothing to gain or lose by posting here, but you're an apt. owner and you're trying to defend your practices. Who is the one who is most likely misleading posters here?

If you pay more than $300-$400 tops for deposit in BA you're getting suckered, to argue otherwise is what's misleading.

And I don't know about you personally, but Argentinian owners and agencies do use these deposits as essentially interest-free loans.

 

[AlexfromLA]

It took you two weeks to come up with this drivel ? Seriously ?

It's very simple. Please post one reputable agency that advertises damage deposits of $ 300 usd for full month stays on properties that cost $ 1000 and up.

Just one. I don't need conjecture or fantasy stories about you smooth talking old Argentinian women into not asking for larger deposits.

I stated a simple fact. The average damage deposit is anywhere from 70-100%. This is the standard that all rental agencies use. byt argentina, apartmentsba, reynolds, REMAX etc.

This is a fact. You can call any of these reputable agencies and they will confirm it, in fact their damage deposit policies are clearly stated on their websites. Maybe you think REMAX is a rip off or they are using damage deposits as " loans ". But that is your personal opinion and not fact. Unless you can actually prove any of what your saying ( and what you are saying clearly contradicts what EVERY single agency in Buenos Aires clearly states on their websites ) I call bullshit.

This is an expat forum. Some expats are renters, some are rentees and some are owners. They all have personal experiences, but everyone is entitled to an opinion. If you want to live in a fantasy world where agencies charge $ 300 usd for damage deposits, more power to you.

It really doesn't affect me in any way. But it does misinform alot of people into thinking that is somehow the norm, when it obviously isnt' since you can't post one single link to back up your claim, and that is why I posted so as to correct your misinformation.

anything else ? or is it going to take you another two weeks to formulate a reply ?

There's something bizarre about your aggressive lobbying on this thread, calling people shady, saying $1400/month apts. are "low end," etc.; though other people keep telling you that it's normal in BA to ask only for a small deposit, you keep insisting that it's not. Now, I have nothing to gain or lose by posting here, but you're an apt. owner and you're trying to defend your practices. Who is the one who is most likely misleading posters here?

If you pay more than $300-$400 tops for deposit in BA you're getting suckered, to argue otherwise is what's misleading.

And I don't know about you personally, but Argentinian owners and agencies do use these deposits as essentially interest-free loans.