More Rentista Questions

[pitipur]

If you can, try and negotiate a dummy lease that shows a three year agreement. BELIEVE ME,you will greatly appreciate that as you have to prove the income every year, and this will save you at least two years of more hassle and insecurity. I explained why I wanted to do this to my tenants, we retained the original lease, and I sweetened the pot for my tenants by assuring them I wouldn't raise the rent for two years. Actually the lease works in their favor if they decided to hold me to it!
A letter from my US bank describing the Origen of my deposits and saying I was a client in good standing with an attachment showing monthly deposits in the U.S. was good enough (obviously translated and apostiled)along with a letter from my bank here in Argentina saying I was a client in good standing.

Thanks! I remembered that you'd suggested this to me before and it sounds like my tenants are going to help me out!

 

[pitipur]

If you can, try and negotiate a dummy lease that shows a three year agreement. BELIEVE ME,you will greatly appreciate that as you have to prove the income every year, and this will save you at least two years of more hassle and insecurity. I explained why I wanted to do this to my tenants, we retained the original lease, and I sweetened the pot for my tenants by assuring them I wouldn't raise the rent for two years. Actually the lease works in their favor if they decided to hold me to it!
A letter from my US bank describing the Origen of my deposits and saying I was a client in good standing with an attachment showing monthly deposits in the U.S. was good enough (obviously translated and apostiled)along with a letter from my bank here in Argentina saying I was a client in good standing.

The only uncertainty is whether or not they will accept a letter from the real estate broker who sold me the house and wrote up the lease for the rental, as neither my bank NOR my property management company would agree to write the letter

 

[Alicia karr]

Well the bank certainly should be able to write a letter listing the rent checks that were deposited, (number, date, and who signed) and that should be sufficient.

 

[pitipur]

yeah i guess i have a super old school bank but they basically said they couldnt write me anything other than the form letters they have...wtf!

so now ive got the letter from the real estate broker signed and notarized and im goign to the bank now to see if they will pull a bank statement that just shows the deposits, which they've previously told me they cant do!? fun times.

 

[steveinbsas]

yeah i guess i have a super old school bank but they basically said they couldnt write me anything other than the form letters they have...wtf!

so now ive got the letter from the real estate broker signed and notarized and im goign to the bank now to see if they will pull a bank statement that just shows the deposits, which they've previously told me they cant do!? fun times.

Even if your "super old school bank" won't write a letter verifying the monthly deposits, don't they provide monthly statements detailing all account activity (including deposits)? If they offer on line banking you should be able to print statements for your account for at least the past six months (if not a year or two), without asking them to do anything.

Migraciones does not actually require a letter from your bank, so the statements (at least the past two) showing deposits for the same amount of money received as rent as shown on the lease and (hopefully) referred to in exactly the same amount in the letter from the real estate broker, combined with a copy of the (hopefully) three year lease (as suggested by lacoqueta) which can be notarized and receive the Apostille will satisfy migraciones.

I can understand why the real estate management company and the bank will not write letters that "certify" that you will receive the income in the future. I doubt either one can make that guarantee without becoming "liable" to pay you that income...or at least leaving themselves open to a lawsuit initiated by you if you do not actually receive it.

 

[pitipur]

another update: Dont forget to keep asking people until you get the answer you want! After going to 3 bank branches, finally a very nice gentlemen answered my question with "well we might have to wing it a little but sure". He printed out the ugly old school transactions to show the 2 deposits, and below it wrote a letter confirming that the two deposits were made in my account based on my lease and to contact him with questions, and stapled his business card and notarized it, to prove that he works for the bank, since there is no bank letterhead.

I was about to send them my entire last two bank statements which i DEFINITELY did not want to do! I'm still planning on switching banks though bc its kind of ridiculous that so many people refused to write me such a simple letter.

 

[pitipur]

Even if your "super old school bank" won't write a letter verifying the monthly deposits, don't they provide monthly statements detailing all account activity (including deposits)? If they offer on line banking you should be able to print statements for your account for at least the past six months (if not a year or two), without asking them to do anything.

Migraciones does not actually require a letter from your bank, so the statements (at least the past two) showing deposits for the same amount of money received as rent as shown on the lease and (hopefully) referred to in exactly the same amount in the letter from the real estate broker, combined with a copy of the (hopefully) three year lease (as suggested by lacoqueta) which can be notarized and receive the Apostille will satisfy migraciones.

I can understand why the real estate management company and the bank will not write letters that "certify" that you will receive the income in the future. I doubt either one can make that guarantee without becoming "liable" to pay you that income...or at least leaving themselves open to a lawsuit initiated by you if you do not actually receive it.

Yes, I could have gone with the bank statements in the end, but I seemed to recall someone posting long ago that I dont want migraciones seeing my full bank statement, and for some reason I tended to agree with them. Plus Im in the states right now and have been trying to get all of this done while Im here, and my second deposit (showing the correct amount -- the first month's amount was a bit off due to some fees) just happened last week so Id have to wait another month to get that statement.

But good to know it will suffice for the next time!

 

[steveinbsas]

It has always been more difficult to get a visa rentista based on income from a property rental simply because it is impossible to "guarantee" that the income will continue uninterrupted during the "life" of the visa and banks aren't likely to make that kind of guarantee.

In the past (at least in 2010), migraciones did require certification from the bank where the funds were received (deposited), but I think they have become a bit more flexible regarding the source of the certification since then. I think there's a very good chance you will be able to "satisfy" them with the documents you will be presenting.

 

[nkotb]

Steve: the whole thing looks like a poorly conceived loophole, as you're not required to prove that you'll be able to use your entire rental income to support yourself in Argentina (as opposed to paying most of it towards your mortgage).

 

[pitipur]

another question re: apostille - i was going to use an expedited apostille service and they told me that while they could get the apostille for the FBI background check from the Us state department, the other documents (deed to my home, lease, bank statement, etc) would get the apostille from the DC state (not the US department of state).

Does anyone know if this apostille is acceptable for the non-background check documents? Do state apostilles work, as long as its not for the FBI background check?