Apartment deposit question?

[John.St]

I'm looking to rent a apartment in BA for a month in January and one rental company is asking for a large deposit for the one month along with all rent. The rent upfront I get.

Is this deposit normal or standard? Do you get your deposit back or is this problem?

Thanks,

Derek

The deposit is normal.

However, if you have a plan B, there's no reason to pay a deposit in advance (some "landlords" don't have an apartment to rent, they just cash in from naive foreigners).

List a number of agencies plus their departments and prices, arrive in the morning, place your suitcase in the guardaropa in the airport, take a taxi to no. 1 and arrange & pay, if occupied try nos. 2, 3, 4, 5, ...

 

[ilovearg]

I recently rented three different apartments for a period of six months through www.buenosairesstay.com. They could not have been any better. I rented at their advice in Palermo (Soho and Hollywood) and in Recoleta. I paid a deposit equal to one month rent for each apartment. Initially, I rented an apartment owned by someone at Buenos Aires Stay, an apartment in Recoleta. I then went with a property owned by an Argentina owner in Soho and a Swede I think in Hollywood. My experiences were equal and the apartments were in good order and I got my deposits back. It is typical to pay a security deposit in any part of the world. When renting the apartments I signed a contract in Spanish with an official translation in English - it was basically a notice to vacate when the contract period was up and it stated that if I left the property as I found it, I would be repayed my deposit. My experience of dealing with this company could not be faulted in any way and now I am a proud owner of my first apartment in Buenos Aires, something I may write about some time soon. I must add, my Argentine owner Cecilia was the nicest and warmest person I have met in Argentina and we have become good friends.

 

[Davidglen77]

I still say don't give anybody full payment upfront. And don't give a month's deposit on a 1 month rental. That is way above reasonable. Several years back I rented with bytargentina.com and they took a week's deposit for a 3 month rental. They returned all of it. And the reservation fee was $US 150 paid by credit card. This is how serious rental companies do things. DO not pay the entire rent upfront unless you are only staying 1 month and the deposit should be minimal. These are NOT long term leases and are not entitled to large deposits. They are getting paid a huge premium for being short term and furnished and that's enough.

I don't know if over the years things have changed at bytargentina.com however what I mention is the correct and fair way to do things. If you rent from another agency and the are asking for more than this, I would say go elsewhere or be prepared to lose money. Unfortunately it happens every single day here.

 

[citygirl]

I disagree - I think a month deposit on a month rental is more than fair. Do you realize how much damage a person can do in a month? And "vacationers" who are here for a short time tend to be the worst - they are here to live the good life, party, etc and don't really think or care about the apt. I know plenty of horror stories where the owner had to deal with damages far in excess than what a month deposit covers. Let's face it - 1000 USD isn't going to buy a replacement anything here if the tenant breaks a tv, rips the couch, spills something and stains the floors, etc.

Even when I came on vacations here before I moved, I think I was paying 2 weeks security deposit, even though I only rented for 1 week.

 

[ilovearg]

I think some people may be writing with poor advice because of how the question is phrased. Is the owner asking for money before arrival? If so, this is not on, too much can go wrong. If the owner is asking for money on signing a legal agreement, then this is common practice, not just here in Argentina, but everywhere throughout the world. It makes me chuckle a little, that some people think a property owner, who is taking the whole risk (vacationers are unknown quantities without a references - that worries me as a future landlord in ARG) should be happy to give you accommodation worth 1000s of Usd's without any form of security!! Choose to rent via a company that offers a guarantee - apartment not as advertised, your money back or a new apartment. I paid just 20% of the rent up-front and I had that guarantee in form of a written contract before my arrival. I checked in with a person who was there to act for me on arrival, went through a check-in compliance process and paid the balance of rent and a security deposit when signing a legal agreement I asked to see in advance. That is a good process, it's fair and gave me some confidence.

 

[davonz]

It is normal to ask for a deposit, especially if you are renting in advance, however i wouldnt pay anything up front until i have seen the place.
I have looked at many apartments here before renting, and alot have not been what they were advertised, sometimes nothing like the photos, and i have been missled on things like bed size, area, whether they are close to supermarkets etc.
Just do a search of this forum and you will find stories of people being ripped off/missled by landlords.
It is a much safer to stay in a hotel/hostel for a couple of days when you first arrive, line up a few apartment viewings for the day after you arrive, and then check them out. I also go see them during busy times of the day when the traffic is bad as that will give you an idea of how noisy the apartment is.
I have only ever paid 1/2 the months rent as a security deposit/bond, however i have been asked for 1 month.

Anyways my advice is dont pay anything over until you have seen the place and the keys are in your reach.

 

[ilovearg]

Further thoughts on davonz good advice. I think you are right! Having been here for a while now, I would recommend the same thing - arrive and view - I was lucky find an agent I could trust because they were British (no guarantee we have crooks too) and a member of my fraternity. It goes without saying we have a strong code of conduct and ethic. I think I would advise people staying a while to pitch up and get a cheap hotel. I took a really expensive flat on arrival and then looked at lots of places - problem though - which I understand - I could not view as many as I would have liked because they had tenants installed.