Long Term Rental with Temporary Residence

[Milton]

Hello Everyone nice to meet you!

I am in Buenos Aires and looking to find some longish term accommodation in a desirable area (Botanico, Las Cañitas, Belgrano) but after some research and initial consultation with the real estate companies it seems they need a security Guarantee for 2 year rentals on top of proof of income and security deposits etc.

I don't have an issue with the deposits and couple months advance rent but would like to ask how others are able to deal with the guarantee requirement and also just in general how are people with temp residence managing to get decent long term accommodation.

The problem with the online guarantee providers is that they require the rent to income monthly % to be NO MORE THAN 30% which is a bit ridiculous since a $1,500 apartment would require a min monthly income of $5,000.

Any advice is appreciated thanks!

 

[Rich One]

It's a difficult question.
Some realtors rent without property guarantee, on a 3 month contract renewable and adjustable (at will).
Three months asked 1st.month rental, deposit plus commision.

 

[Milton]

It's a difficult question.
Some realtors rent without property guarantee, on a 3 month contract renewable and adjustable (at will).
Three months asked 1st.month rental, deposit plus commision.

Is this fairly common? I notice some ads on zonaprop don't explicitly list the property guarantee in the description but some do, I just assumed the ones who didn't were too lazy to include it in the description.

 

[Rich One]

Some realtors work with tourists that rarely have property guarantees. It depends on the Realtor's urge to rent and their impression of the prospect tenant .

 

[carride]

I don't have an issue with the deposits and couple months advance rent but would like to ask how others are able to deal with the guarantee requirement and also just in general how are people with temp residence managing to get decent long term accommodation.

I do not know anything about these companies who might become your guaranteer. For a fee. I stumbled on one recently, and so did another quick search now. Lifelong residents usually get the 2+ guarantees from friends, coworkers and family.

Hoggax | Garantías para alquiler

Garantía para alquilar el departamento que siempre quisiste.

hoggax.com

Finaer - Sistemas de Garantías para alquilar

www.finaersa.com.ar

Garantor - Alquilar nunca fue tan fácil.

Alquilar nunca fue tan fácil.

www.garantor.com.ar

 

[Milton]

I do not know anything about these companies who might become your guaranteer. For a fee. I stumbled on one recently, and so did another quick search now. Lifelong residents usually get the 2+ guarantees from friends, coworkers and family.

Hoggax | Garantías para alquiler

Garantía para alquilar el departamento que siempre quisiste.

hoggax.com

Finaer - Sistemas de Garantías para alquilar

www.finaersa.com.ar

Garantor - Alquilar nunca fue tan fácil.

Alquilar nunca fue tan fácil.

www.garantor.com.ar

Yes it seems like that was the norm for long rentals before which is harder for non-locals.

I will do more digging this week to find out if they can be convinced without a guarantee, there are actually some short term rentals which look OK for the price too maybe some negotiating for 6-12 months can happen.

 

[LuckyLuke]

Some immobilarias will require double instead of triple the earnings vs rent. Then you can get away with 50% earnings. The truth is, what you are looking for isn't really for you.

You have two roads:

One for locals - earning pesos locally. These are unfurnished units offering 1-3 year contracts, payable in pesos, offering adjustments every 3-6 months according to a government published inflation index. They require double or triple the rent in earnings using payroll stubs (nothing en negro). They require a security deposit, they require two co-signers (guarante) who also can duplicate the rent in earnings. Some may take a seguro to caucion instead. This is not for international tourists, who don't earn domestically, don't have co-signers, and often don't even have a DNI.

One for tourists - earning internationally. These are furnished units offering daily to monthly stays, offering adjustments monthly at whatever the owner feels the market may bear (supply/demand, seasonal, etc). They typically don't require anything other than the ability to pay. They accept payment in dollars or pesos.

International tourists that come here looking for local options are IMO barking up the wrong tree. This is no different than the USA. I could not as an Argentine citizen on a tourist visa walk into an apartment complex in Dallas, Texas with no TX state ID, no W2 or payroll stub, no US bank account and ask for a 1 year contract for one of their units. My options would be AirBnB, the local Hilton or some couch surfer app.

Expats here have managed to get local units on longer terms by essentially removing any owner risks from the equation. Paying all the rent up front in cash and even agreeing to not having a contract so they can be removed if the owner situation changes. While this avoids risks to the owner, this is not without legal risks to the tenant.

 

[Milton]

Some immobilarias will require double instead of triple the earnings vs rent. Then you can get away with 50% earnings. The truth is, what you are looking for isn't really for you.

You have two roads:

One for locals - earning pesos locally. These are unfurnished units offering 1-3 year contracts, payable in pesos, offering adjustments every 3-6 months according to a government published inflation index. They require double or triple the rent in earnings using payroll stubs (nothing en negro). They require a security deposit, they require two co-signers (guarante) who also can duplicate the rent in earnings. Some may take a seguro to caucion instead. This is not for international tourists, who don't earn domestically, don't have co-signers, and often don't even have a DNI.

One for tourists - earning internationally. These are furnished units offering daily to monthly stays, offering adjustments monthly at whatever the owner feels the market may bear (supply/demand, seasonal, etc). They typically don't require anything other than the ability to pay. They accept payment in dollars or pesos.

International tourists that come here looking for local options are IMO barking up the wrong tree. This is no different than the USA. I could not as an Argentine citizen on a tourist visa walk into an apartment complex in Dallas, Texas with no TX state ID, no W2 or payroll stub, no US bank account and ask for a 1 year contract for one of their units. My options would be AirBnB, the local Hilton or some couch surfer app.

Expats here have managed to get local units on longer terms by essentially removing any owner risks from the equation. Paying all the rent up front in cash and even agreeing to not having a contract so they can be removed if the owner situation changes. While this avoids risks to the owner, this is not without legal risks to the tenant.

Yes I understand that from a perspective of Tourists (which I am not).

I have a Rentista Visa and a DNI and local Bank account so I assumed there would be more choices available to me.

A friend told me that landlords were over cautious due to the extreme policies of the previous Socialist/Peronist Governments meaning they had difficulty legally removing if the Tennant started to not pay.

I guess I could always resort back to AirBNB monthly as the Hilton would be a ridiculous option (considering you are joking here )

** "Hi I'd like a room for 1 year please"
"Certainly that will be $110,550 please when you are ready sir"

 

[FrankPintor]

Yes I understand that from a perspective of Tourists (which I am not).

I have a Rentista Visa and a DNI and local Bank account so I assumed there would be more choices available to me.

A friend told me that landlords were over cautious due to the extreme policies of the previous Socialist/Peronist Governments meaning they had difficulty legally removing if the Tennant started to not pay.

I guess I could always resort back to AirBNB monthly as the Hilton would be a ridiculous option (considering you are joking here )

** "Hi I'd like a room for 1 year please"
"Certainly that will be $110,550 please when you are ready sir"

Why AirBnB monthly? We (and others) have rented apartments via AirBnB for 6-12 months. Some owners like the predictability.

Why politicise your question? Are you just trolling?

 

[Milton]

Why AirBnB monthly? We (and others) have rented apartments via AirBnB for 6-12 months. Some owners like the predictability.

Why politicise your question? Are you just trolling?

It is generally a lot more expensive via AirBnb and I was looking to add some furniture (work from home) which you don´t have the option to with Airbnb.

No politicking here my friend I am just repeating what a local contact told me as to why the criteria for long term rentals are so high (even for locals). 3 security guarantee signatures backed with a salary is something I have not encountered before in many countries and I assume there has to be a good reason for that?