Is there a market for temporary rental?

[MariaBustos]

Hola amigos!!!
I am an Argentinean/US citizen (long story).... I have a furnished apartment in Buenos Aires (Recoleta.. nice... etc), and i am debating whether to rent it formally on a 2 year contract (renter pays rent and all utilities) OR to venture on temporary rental since I go to Buenos Aires every six months or so and would like to stay in my apartment. I think (but may be wrong ) that the temporary rental is saturated.... too many offers... are all those apartments really rented?
Maybe yes, and i am wrong about my assumptions of how the market is working in Buenos Aires.
Any comments will be helpful....

 

[Redpossum]

Maria,
I'm a Yanqui living in BsAs long term, and I'm looking for an apartment right now. The owner of my current apartment just raised my rent 25% and he did the same 6 months ago, so it will be 50% on the year. The apartment is in poor condition - the stove, refrigerator, heater, and air conditioner are all 30 years old and desperately need to be replaced, but he's unwilling to fix anything. I had to buy a new water heater myself when the old one died.

Granted, I am looking at things from the opposite end, but my overall impression is that the rental market is all utter chaos right now. There is no consistency to anything. Prices are all over the board. Maybe after the election in November, the situation will stabilize, but for right now I cannot give any coherent answer to your questions. Perhaps some of the members of this community who own and rent properties here could be more helpful.

 

[Johnny]

Maria,
I'm a Yanqui living in BsAs long term, and I'm looking for an apartment right now. The owner of my current apartment just raised my rent 25% and he did the same 6 months ago, so it will be 50% on the year. The apartment is in poor condition - the stove, refrigerator, heater, and air conditioner are all 30 years old and desperately need to be replaced, but he's unwilling to fix anything. I had to buy a new water heater myself when the old one died.

Granted, I am looking at things from the opposite end, but my overall impression is that the rental market is all utter chaos right now. There is no consistency to anything. Prices are all over the board. Maybe after the election in November, the situation will stabilize, but for right now I cannot give any coherent answer to your questions. Perhaps some of the members of this community who own and rent properties here could be more helpful.

Get the heck out of that hellhole, RP!

 

[Redpossum]

Get the heck out of that hellhole, RP!

I'm doing my best!

 

[jbeas176]

maria, i have been doing short term rentals for 15 years or more. i like you like to visit and stay in my apt. the key is finding someone you trust to handle your unit. i just started renting again after a year and a half. the rents are low. i rented to a pastor for 50,000 pesos for a month to exersize the valves and drains. just offered it for 3 months at 500.00 us a month. squatters were a consern during the pandemic so i did not rent during that time. its my belief you have less wear and tear with short term plus you can visit around the rental term. i limit any rental to 3 months.

 

[jbeas176]

i will add i have not had to add any money to the unit for expenses, cable, electrical sinse the oringinal purchase.

 

[MariaBustos]

Maria,
I'm a Yanqui living in BsAs long term, and I'm looking for an apartment right now. The owner of my current apartment just raised my rent 25% and he did the same 6 months ago, so it will be 50% on the year. The apartment is in poor condition - the stove, refrigerator, heater, and air conditioner are all 30 years old and desperately need to be replaced, but he's unwilling to fix anything. I had to buy a new water heater myself when the old one died.

Granted, I am looking at things from the opposite end, but my overall impression is that the rental market is all utter chaos right now. There is no consistency to anything. Prices are all over the board. Maybe after the election in November, the situation will stabilize, but for right now I cannot give any coherent answer to your questions. Perhaps some of the members of this community who own and rent properties here could be more helpful.

Hey, thanks for the answer. It helps to hear people on the other side. Renters, I mean, and not owners. I see that there are so many options for temporary rentals in BsAs now, but I suspect that there is not such an enormous market for short term.
Also, for a more permanent rental, I believe the law has changed and now the contracts need to be for 3 years. Is that true?
Good luck with your apartment hunt.
Cheers, maria

 

[MariaBustos]

maria, i have been doing short term rentals for 15 years or more. i like you like to visit and stay in my apt. the key is finding someone you trust to handle your unit. i just started renting again after a year and a half. the rents are low. i rented to a pastor for 50,000 pesos for a month to exersize the valves and drains. just offered it for 3 months at 500.00 us a month. squatters were a consern during the pandemic so i did not rent during that time. its my belief you have less wear and tear with short term plus you can visit around the rental term. i limit any rental to 3 months.

Thank you so much for sharing your experience with me. I still have some time to think about it. I will be in Argentina and I think I will stay there (in my apartment) until at least May or June. Then I will have to decide what I do with it.

Cheers,
Maria from Missoula (MT) and Buenos Aires.

 

[Rich One]

Thank you so much for sharing your experience with me. I still have some time to think about it. I will be in Argentina and I think I will stay there (in my apartment) until at least May or June. Then I will have to decide what I do with it.

Cheers,
Maria from Missoula (MT) and Buenos Aires.

Maria, good decision to postpone the decision until early next year.. Bear in mind that after next November, when foreign tourists start arriving, the Tempórary Rental situation may be quite different

 

[Alpinista]

Maria,
I'm a Yanqui living in BsAs long term, and I'm looking for an apartment right now. The owner of my current apartment just raised my rent 25% and he did the same 6 months ago, so it will be 50% on the year. The apartment is in poor condition - the stove, refrigerator, heater, and air conditioner are all 30 years old and desperately need to be replaced, but he's unwilling to fix anything. I had to buy a new water heater myself when the old one died.

Granted, I am looking at things from the opposite end, but my overall impression is that the rental market is all utter chaos right now. There is no consistency to anything. Prices are all over the board. Maybe after the election in November, the situation will stabilize, but for right now I cannot give any coherent answer to your questions. Perhaps some of the members of this community who own and rent properties here could be more helpful.

Regarding the 50% increase: I think that increase is more less in line with inflation (might even be slightly below it). Assuming that you have a peso contract, I don't see this as a total rip off per se. If the apartment is in bad shape, that's another story then.

Generally speaking, I think there are a lot of empty apartments throughout the city as the annual return (from the owner's perspective) is probably in the 1-2% region. Given the potential problems with non-paying renters, a lot of the apartments are kept empty to avoid potential problems. I think also the ley de alquileres introduced last year didn't really help to increase the offer.

From a renter's point of view: if you can demonstrate that you have enough funds to pay the rent (even prepaying 6 to 12 months), I think you should have no problem to get a good deal now though