How Did You Get Your Guarantia From A Friend?
- Thread starter Ceviche
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My first garantia was from an employee who had become a friend. I'd been here about a year and a half and he worked with me for almost that whole time. We got to know each other well during that time and when I was talking about needing a garantia, he offered without me even asking.
My second garantia was from an expat who was also a friend. He was much more reluctant (my friend from my first garantia moved to England to get away from his own country - his and his girlfriend's words). He also heard about my issues and I didn't ask him, but he offered. When push came to shove he hemmed and hawed, but finally relented with a two-month deposit from me that he kept until the first contract was finished (owners didn't ask for a garantia for the second two year contract).
My current garantia comes from the parents of a boyfriend of a friend of my wife's. I paid them one month's rent (in Dollars) for the garantia.
As mentioned, garantias are hard to get from people. There is a lot at stake, particularly if they don't know you as well as, say...their own family. However, I found that putting some money up helps significantly.
Also, there used to be a lot more problem with people accepting garantias that weren't from family, but it's becoming much more a renter's market, at least what I saw when I was renting my current apartment. And BTW - bigger apartments with more rooms are better deals nowadays (at least in Recoleta where I ended up) because they are relatively expensive and not very many people will rent a 4 bedroom place. At 12,000 pesos a month I consider it a near steal for where I am living.
The first garantia from my friend was from an apartment in Cordoba, for a house in a closed neighborhood in Garin (near Toruguitas and not quite to Pilar). The second garantia was here in CABA. The one for the current apartment is guarantied by an apartment in Mar Del Plata.
You can find people that will accept whatever garantia you have, for the most part. Sometimes you just have to keep looking. We looked at a PH in Belgrano that was newly remodeled and really nice, though a little small. The owner wouldn't accept the garantia from Mar Del Plata, nor another house situated in the middle of a block near Plaza Italia on Santa Fe. but the apartment we ended up with, the owners had no problem. If we had pushed it they might even have done it without a garantia but we already had one, so we didn't push.
BTW - I'd pay any money agreed upon in advance only after the guarantor signs the papers...
My second garantia was from an expat who was also a friend. He was much more reluctant (my friend from my first garantia moved to England to get away from his own country - his and his girlfriend's words). He also heard about my issues and I didn't ask him, but he offered. When push came to shove he hemmed and hawed, but finally relented with a two-month deposit from me that he kept until the first contract was finished (owners didn't ask for a garantia for the second two year contract).
My current garantia comes from the parents of a boyfriend of a friend of my wife's. I paid them one month's rent (in Dollars) for the garantia.
As mentioned, garantias are hard to get from people. There is a lot at stake, particularly if they don't know you as well as, say...their own family. However, I found that putting some money up helps significantly.
Also, there used to be a lot more problem with people accepting garantias that weren't from family, but it's becoming much more a renter's market, at least what I saw when I was renting my current apartment. And BTW - bigger apartments with more rooms are better deals nowadays (at least in Recoleta where I ended up) because they are relatively expensive and not very many people will rent a 4 bedroom place. At 12,000 pesos a month I consider it a near steal for where I am living.
The first garantia from my friend was from an apartment in Cordoba, for a house in a closed neighborhood in Garin (near Toruguitas and not quite to Pilar). The second garantia was here in CABA. The one for the current apartment is guarantied by an apartment in Mar Del Plata.
You can find people that will accept whatever garantia you have, for the most part. Sometimes you just have to keep looking. We looked at a PH in Belgrano that was newly remodeled and really nice, though a little small. The owner wouldn't accept the garantia from Mar Del Plata, nor another house situated in the middle of a block near Plaza Italia on Santa Fe. but the apartment we ended up with, the owners had no problem. If we had pushed it they might even have done it without a garantia but we already had one, so we didn't push.
BTW - I'd pay any money agreed upon in advance only after the guarantor signs the papers...
You know, I've always wondered about that myself. I've always been told that it doesn't very often work because many of the people selling garantias (I'm talking about the garantia market, not people you know - obviously I bought a garantia this time) have already sold and they get caught out. If they catch that you don't even know the people they probably won't accept the garantia even if it's a CABA property. I was going to try that this last time until I found a more certain garantia.
Remember, the idea behind a garantia is that yes, the owner can go through the courts to find against the holder of the garantia for any problems with the apartment, but the reality is most likely a couple of years of litigation before anything is settled. The owner wants to know that the person providing the garantia has leverage on the person renting to shame them into doing what's right (mostly in the case of not occupying the place for free).
Of course, there are also the bonds that some banks offer - we've looked into that, but not a single owner we asked 4.5 years ago would have accepted one (they were new then, anyway). That may have changed in the last few years. Another problem is the banking history and proof of income you need to qualify for a bank underwriting such a bond.
Remember, the idea behind a garantia is that yes, the owner can go through the courts to find against the holder of the garantia for any problems with the apartment, but the reality is most likely a couple of years of litigation before anything is settled. The owner wants to know that the person providing the garantia has leverage on the person renting to shame them into doing what's right (mostly in the case of not occupying the place for free).
Of course, there are also the bonds that some banks offer - we've looked into that, but not a single owner we asked 4.5 years ago would have accepted one (they were new then, anyway). That may have changed in the last few years. Another problem is the banking history and proof of income you need to qualify for a bank underwriting such a bond.
BAPaul
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I don't understand to much about this garantia thing with renting. You mean to tell me that every person in Argentina when they rent have to get someone else to be a garantia who has property? there are not enough people surely who own a property to act as one for every other person...or is it just for us foreigners moving here?
I admit I don't know to much about it or have discussed it with my girl, she lives with her daughter and sister in an apartment they rent and I don't know anything else....I hope we can rent a place easy and we will get married when I move here so I will go the whole residence visa route....so all you expats on here had to find a garantia before you could rent? it does not sound right to me as I am sure everyone did not do this from storied I have read online.
I guess at the least I can rent as a vacationer for 3 months and keep going back to the UK each time then return here...I really hope renting wont be a headache, but it does seem like there are other routes and the bank garantia.....bloody laws in this land lol
I admit I don't know to much about it or have discussed it with my girl, she lives with her daughter and sister in an apartment they rent and I don't know anything else....I hope we can rent a place easy and we will get married when I move here so I will go the whole residence visa route....so all you expats on here had to find a garantia before you could rent? it does not sound right to me as I am sure everyone did not do this from storied I have read online.
I guess at the least I can rent as a vacationer for 3 months and keep going back to the UK each time then return here...I really hope renting wont be a headache, but it does seem like there are other routes and the bank garantia.....bloody laws in this land lol
Girino
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The garantia is for everybody, for standard contracts of 2 years. If you can't get a guarantor, you can either a) buy a garantia from a bank as explained above B) go for a more expensive rent, such as the ones for expats who are new to the country c) try convince the owner to accept you as a tenant even without garantia, by paying him many months in advances, even a full year d) try to bring something new on the table, such as paying in USD in USA which would be a win-win in most cases.
Crema Americana
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Well a lot of expats rent short term and it's outside the whole garantia arrangement (a bit outside the system), but rents will be higher. If you're staying long term you'll want to enter a more traditional contract... 2 years + garantia, etc. You can get a garantia from a bank, as David explained before.
It's not just for expats. When my husband needed to rent a place for his shop, he needed a garantia which he got from his mother's place of business (the house couldn't be used because it's a bien de familia.)
It's not just for expats. When my husband needed to rent a place for his shop, he needed a garantia which he got from his mother's place of business (the house couldn't be used because it's a bien de familia.)
First, blame the wonderful government (but not of Cristina) for having made a law that allows for people to not move out of a house that is not theirs. Same reason no one leaves property alone here for any length of time because if squatters get into your place you're screwed.
The prime reason to require a garantia is NOT for damages, but rather because of the fear that the renters will not leave (and that means not paying rent), rather will squat. If you have children involved, even worse.
Temporary leases (short term) are not outside the system (unless the owner simply isn't declaring earnings), but are indeed different under the law, and by law they are not supposed to be for more than 6 months, with (I believe) one additional renewal term. Anything longer and the contract, by law, converts to a long term lease. Short term leases make it easier for the owner to get someone out of their apartment if they're not paying - but again, if kids are involved it really complicates things.
There are indeed people who will rent their places long term without garantias. The first apartment I was in that was not temporary I occupied for a year. A friend of mine was living here but had to go back to the States permanently for work. He'd paid his entire two year lease in advance in lieu of a garantia and it was accepted - because he was a foreigner. I paid the monthly rent to him until the end of the lease.
I have another friend who spent months walking around the city and talking to various porteros to ask if they knew anyone who was willing to rent (mostly to avoid the commission of the real estate companies). He found anumber of apartments and finally found one where the person was willing to rent to him without a garantia - again because he was a foreigner.
I've never had the time to spend looking for apartments, plus my needs are bigger than most - we have 5 of us living together and I need an office. Much more difficult to find a lease without a garantia.
Also, you can indeed find places that don't require a garantia, but usually outside the city and in lesser-quality environments, or the living places themselves are very substandard (to me).
It's not impossible, but you can't just go down to the local real estate office, or look online, and have a large quantity of apartments to choose from. That's the real bonus of having a garantia is that once you have that, you can pretty much rent anything that you can afford - much like the majority of us are used to in the (maybe only slightly) saner outside world.
The prime reason to require a garantia is NOT for damages, but rather because of the fear that the renters will not leave (and that means not paying rent), rather will squat. If you have children involved, even worse.
Temporary leases (short term) are not outside the system (unless the owner simply isn't declaring earnings), but are indeed different under the law, and by law they are not supposed to be for more than 6 months, with (I believe) one additional renewal term. Anything longer and the contract, by law, converts to a long term lease. Short term leases make it easier for the owner to get someone out of their apartment if they're not paying - but again, if kids are involved it really complicates things.
There are indeed people who will rent their places long term without garantias. The first apartment I was in that was not temporary I occupied for a year. A friend of mine was living here but had to go back to the States permanently for work. He'd paid his entire two year lease in advance in lieu of a garantia and it was accepted - because he was a foreigner. I paid the monthly rent to him until the end of the lease.
I have another friend who spent months walking around the city and talking to various porteros to ask if they knew anyone who was willing to rent (mostly to avoid the commission of the real estate companies). He found anumber of apartments and finally found one where the person was willing to rent to him without a garantia - again because he was a foreigner.
I've never had the time to spend looking for apartments, plus my needs are bigger than most - we have 5 of us living together and I need an office. Much more difficult to find a lease without a garantia.
Also, you can indeed find places that don't require a garantia, but usually outside the city and in lesser-quality environments, or the living places themselves are very substandard (to me).
It's not impossible, but you can't just go down to the local real estate office, or look online, and have a large quantity of apartments to choose from. That's the real bonus of having a garantia is that once you have that, you can pretty much rent anything that you can afford - much like the majority of us are used to in the (maybe only slightly) saner outside world.
Serafina san,
Apart from being beautiful and sexy, you are brainy too!
Couldn't agree more!
