Is renting an apartment getting cheaper in BA?

DA

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Is renting an apartment getting cheaper in BA?
I am quoting a post below and would like to know if anyone else has gotten their rents lowered.......? or if any property owners are having a hard time getting the same income as last year from their rental apartments.......?
and is there more rental apartments available now.......?

iStar said:
And tell that to the property owners who have empty rental apartments or the lucky ones who have found renters but have had to lower the rent. I know because my rent was decreased by 25% last month... Trust me I'm not complaining, its more money in my pocket. I'm just calling it what it is... a cash grab.
 

iStar

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Hi.

My personal experience is yes. All you have to do is look at craigslist:

http://buenosaires.en.craigslist.org/apa/

There are much more ads than ever before and when you have more competition it drives prices lower.

Plus tourism is down and with the new entry fee starting Dec 20th, I can't see that helping either.

If you can rent an apartment from one that is advertised in local real estate office it will be even cheaper as most are priced in pesos. You might be asked to sign a long term lease 1-2 years though.

Don't be afraid to negotiate price. There are LOTS of empty rental apartments right now.
 

jez

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iStar said:
Hi.

My personal experience is yes. All you have to do is look at craigslist:

http://buenosaires.en.craigslist.org/apa/

There are much more ads than ever before and when you have more competition it drives prices lower.
These are all vacation rentals and not long term rentals, there will continue to be more ads on Craigslist as people realise the power it has to bring clients. I get about 70 - 80% of my reservations from Craigslist for my apartment in Palermo
 

iStar

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jez said:
These are all vacation rentals and not long term rentals, there will continue to be more ads on Craigslist as people realise the power it has to bring clients. I get about 70 - 80% of my reservations from Craigslist for my apartment in Palermo
Not all are vacation rentals.

Under the heading HOUSING on Craigslist you'll see separate sections for apartment/housing rentals and vacation rentals among others...


Most ads offer a longer term discount of 3+ months and if they don't ask and they will give you some sort of discount.

The best is if you can rent direct from the owner of the property, you'll be able to negotiate a better deal.
 

mini

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iStar said:
Not all are vacation rentals.

Under the heading HOUSING on Craigslist you'll see separate sections for apartment/housing rentals and vacation rentals among others...


Most ads offer a longer term discount of 3+ months and if they don't ask and they will give you some sort of discount.

The best is if you can rent direct from the owner of the property, you'll be able to negotiate a better deal.
Ok, but these are still short term furnished rentals. Rents for long term 2 yr contract apartments are not going down.
 

iStar

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mini said:
Ok, but these are still short term furnished rentals. Rents for long term 2 yr contract apartments are not going down.
I have seen some that are not furnished although most are.

I mentioned the two year rentals that you can find locally are cheaper (paid in ARG$ vs. USD$) vs. what is listed on craigslist that was my point of reference with my post. :)
Obviously the amount of savings would depend on the term the person requires.

Although with the glut of new apartments coming into the market, it's just a matter of time before the lower prices start trickling down ;)

The owner of my place has 3 units in the building which was completed this June, two are still sitting empty.
 

mini

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iStar said:
I have seen some that are not furnished although most are.

I mentioned the two year rentals that you can find locally are cheaper (paid in ARG$ vs. USD$) vs. what is listed on craigslist that was my point of reference with my post. :)
Obviously the amount of savings would depend on the term the person requires.

Although with the glut of new apartments coming into the market, it's just a matter of time before the lower prices start trickling down ;)

The owner of my place has 3 units in the building which was completed this June, two are still sitting empty.
Yes. I agree with you that 2 yr leases are cheaper than short term (vacation/tourist) rentals. But from what I have observed, looking of at long term rental, the prices are the same if not more than a year ago.

I'd like to move but I'm finding that I won't get anything better or bigger for less. From what I've seen there are few such bargains in the long term category. It's probably due to the high entry barrier (need for guarantia, large deposits & commissions, etc)
 

iStar

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mini said:
It's probably due to the high entry barrier (need for guarantia, large deposits & commissions, etc)
Yes those are very good points. The commissions can range from 5-7.5% of the entire contract which can blow the saving out of the water.

I lucked out because I am renting direct from the owner and I negotiated a one year lease with 1 month security deposit and best part.. no commission.

I honestly think the rates for short term rentals will drop some more especially at the end of January. No harm in trying to negotiate a better rate if you guarantee them X amount of months.
 
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