Price for a furnished rental Barrio Norte

Davidglen77

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Looking for opinions here, I have a friend who has an apartment in Barrio Norte, it's a large ground floor studio apartment that faces the back of the building (very quiet) yet gets plenty of light since it only a 3 floor building, Has an entrepiso with a loft style queen sized bed, fully furnished, sofa, color TV, telephone for local calls, home theater system and a small patio. It's in a GREAT location, Charcas & Agüero, 1 block from Av. Santa Fe & the Agüero subte station of the 'D' line. It's large for a studio apartment, 32 m2, has a small separate kitchen with granite counter tops, microwave, stove, a separate dining area, large living room (4m x 4m). Wood floors and ceramic in the kitchen / entry. Building has renovated hallways and is quiet and well kept.

I suggested that he could rent this apartment out for $700 U$D per month. A long time tenant is moving out and soon will be looking to rent this out. Opinions?
 

citygirl

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Good things from what you've written - it's large, good location, sunlight.

Bad things - ground floor, sounds like no amenties in building like doorman, etc.

I'd say 700 isn't unreasonable but maybe slightly less for a longer-term rental.
 

Ashley

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I think it depends what quality the furnishings are, etc... When I was looking for tourist rentals when my mum came to stay last year, I'd say that US$700 was the minimum for a short-term, furnished rent so if his place is in top condition, he could even charge maybe US$800 or so. I think that US$700 is probably about right for a 6-month contract though.
 

TheBlackHand

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You should have him ask a professional real estate agent what the market value for this property is when renting it short term fully furnished and serviced. He might be better off renting it to an Argentino unfurnished and unserviced with a garantia for two years.

If I decide to rent my house out in the US, i'm going to ask an agent to give me a professional estimate based on the market and on similar comps, i'm not going to ask the local college kid what he'd like to pay for it. I doubt your friend is in the subsidized housing business. I'm assuming he's trying to make a small yet worthwhile profit.
 

PhilipDT

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Seems on the high side for a studio on the ground floor to me, but then again, I have seen much crappier apartments successfully rented for far more money (25sqm - 1000) in that area, so what do I know.
 

arlean

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I am a few blocks from there, near Alto Palermo shopping, a block from Bulness Subte, have a one-bedroom, with full bath, 6th floor with balcony, the sun shines in in the morning, separate kitchen with small pantry. Furnished but very very poorly. Bedroom is very good but furniture in the living room is old and breaking down to a degree and the entire apartment needs paint. The building is locked at street level but no 24 hour attendant. I pay $500 equivalent, plus $80 in expenses and another $20 to $30 for utilities. I think if they were to furnish better and paint it would be a lot more. To my thinking it is the interior that makes the difference. And rightly so since furniture is so easily damaged.
 

Davidglen77

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TheBlackHand said:
You should have him ask a professional real estate agent what the market value for this property is when renting it short term fully furnished and serviced. He might be better off renting it to an Argentino unfurnished and unserviced with a garantia for two years.

If I decide to rent my house out in the US, i'm going to ask an agent to give me a professional estimate based on the market and on similar comps, i'm not going to ask the local college kid what he'd like to pay for it. I doubt your friend is in the subsidized housing business. I'm assuming he's trying to make a small yet worthwhile profit.

We did ask a professional agent who said that the apartment could be rented for $850 U$D to $950 U$D per month or $350 U$D per week for a weekly rental. I however thought this was out of the league of what is reasonable. Also we want a tenant that will rent for at least 6 months or longer. For others who answered, the apartment is on the ground floor, however it doesn't face the front of the buildng, it faces an internal patio which is very quiet and light and has a small covered patio (2 exposures). From what I've seen searching the web for furnished rentals, it seems reasonable to ask $700 U$D if the tenant signs 6 month agreement. All utilities are included as well as expensas, and there is air conditioning / heat, cable and WIFI as well.
 
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I agree that the furnishing/decoration has a lot to do with the final price. I think that $700 monthly is fine for a standard furnishing, but you could raise the price if it has a higher level. I'm a professional. Good luck!
 

KevinK

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Stick with the monthly or weekly tourist rents if you want these prices
I pay for a one and and a half bedroom in recoleta 2100 PESOS a month which includes all building expenses which includes heat and hot and cold water ,and cablevison. Add too that my land line phone electric and gas and that is my apt.

Those who live here longer wont be looking for what your renting this way... stay within the market your apt was set up for'and it should do very well here.
 

Davidglen77

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Definitely looking for a short term rental, there was a student from the University of Palermo living there for 3 years who is leaving now. 1st year was $550 U$D, 2nd year was $600 U$S and current year is $650 U$D. While the furnishings are not top notch, they are stylish, in excellent condition and the apartment will be freshly painted and floors polished for the new tenant. There's a small couch, desk, fairly new mattress (2 years), table, TV stand, etc. It's not top of the line but it's all in great shape. I know there are other people in the building who are renting this same apartment for a 2 year lease and are paying $1500 pesos, plus expensas $200 pesos, ABL, AYSA, electric, cable/internet etc. Probably comes out to about $2200 pesos per month total for long term (2 year) renters with garantia.
 
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