Rent in Dollars

[Iznogud]

I´m not talking about the particulars of this case. These are the general rules and you better get all the info, analyze it and understand it BEFORE you start signing paperwork.

As per the current case, I wonder what parts are the Landlord and what parts are the Broker speaking.
In any case, the contract in pesos could just be a formality so that the tenant has something to show others. Just saying.

If I were the landlord, I´d just get rid of the tenant as soon as the splitting hairs starts. Landlords want USD simply because they don´t want to keep one eye on currency exchange rates and USD stay around inflation values most times.

Currently, law allows the Administrador to get a lawyer involved after 2 months of unpayed Expensas. Also, Administradores are fond of Expensas Extraordinarias these days. Those are payed exclusively by the landlord and can turn rent income to vapor in a blink.

Must understand the position of the guy who only wants to keep a property, not even make a profit, or a small one. Those cater to the best possible income, provided by foreigners if the property is good enough.

Iz

 

[garryl]

I was a landlord for 6-7 years in Buenos Aires. Never made any profit. All the rental income I collected was used to pay expense, repairs and manager, taxes and taxes and taxes. So I sold it, to someone who uses it as his residence. My tenants were always foreigners, they were always happy to pay usd, never even questioned the contract. Except the gay couple from Southern California (there is absolutely nothing wrong being gay), after they agreed to the contract and terms and moved in, they started to question everything. I am sure some of you know who they are. One of them , constantly causing problems with the people in this forum, complaining they do not have friends here, and they poured water to the kids playing soccer under their windows. And the kids attacked our building by throwing rocks on the glass front door, and the school threatened to sue me. I finally kicked the two ass**le out. They do not have any friends because they are aholes, especially the older guy. If you read this, I am talking about you.

Why did I buy an apt right above school play ground ? Because the seller lied to me, always asked me to check out the apt during weekend, I did not know behind the tall wall, there is a frkin school. And outside my window was a parking lot. The seller told me that the parking lot was a gift by someone, it will always remain as a parking lot. Two years after I own the apt, the school made the parking lot into a play ground. My real estate value dropped about 30%.

I have owned apts in Asia, Europe and US, Argentina is the worst place to own real estate as landlord/home owner, unless you buy when the market crashes.

 

[Rich One]

I was a landlord for 6-7 years in Buenos Aires. Never made any profit. All the rental income I collected was used to pay expense, repairs and manager, taxes and taxes and taxes. So I sold it, to someone who uses it as his residence. My tenants were always foreigners, they were always happy to pay usd, never even questioned the contract. Except the gay couple from Southern California (there is absolutely nothing wrong being gay), after they agreed to the contract and terms and moved in, they started to question everything. I am sure some of you know who they are. One of them , constantly causing problems with the people in this forum, complaining they do not have friends here, and they poured water to the kids playing soccer under their windows. And the kids attacked our building by throwing rocks on the glass front door, and the school threatened to sue me. I finally kicked the two ass**le out. They do not have any friends because they are aholes, especially the older guy. If you read this, I am talking about you.

Why did I buy an apt right above school play ground ? Because the seller lied to me, always asked me to check out the apt during weekend, I did not know behind the tall wall, there is a frkin school. And outside my window was a parking lot. The seller told me that the parking lot was a gift by someone, it will always remain as a parking lot. Two years after I own the apt, the school made the parking lot into a play ground. My real estate value dropped about 30%.

I have owned apts in Asia, Europe and US, Argentina is the worst place to own real estate as landlord/home owner, unless you buy when the market crashes.

Thanks Garryl for sharing, I visited once the apt and can verify what you are saying about the property. Good luck with your other properties ..!

 

[Iznogud]

You should take note that in order to own property you must pay in USD.
The only viable way to save any money in Argentina is to save USD.
Enough USD will allow you to buy or invest in property.
Not enough people can manage to do that, by a long shot.
No USD, no savings, no property. This also greatly hurts the construction industry, jobs that are naturaly short term and don't pay well.
Every now and then, the news media repport how little real estate transactions are being registered and how the business is constantly shrinking.
Most people live in rentals, with no decent access to serious credit allowing them to become owners.
An impressive lot are behind with rent and expensas. The landlords atruggle to keep their properties, not to make huge profits since value goes down simply by the lack of demand, available USD and rising cost of maintaining the property. Downward spiral.

So, unless some of you get this picture straight in your heads, you'll headed to a constant clash with your landlords who the last thing they need is a PITA tenant.

Trade your Toad Skins with a smile or be treated like an unfortunate regular Joe with ever insufficient Ice Cones.

Iz

 

[Weyland]

You should take note that in order to own property you must pay in USD.
The only viable way to save any money in Argentina is to save USD.
Enough USD will allow you to buy or invest in property.
Not enough people can manage to do that, by a long shot.
No USD, no savings, no property. This also greatly hurts the construction industry, jobs that are naturaly short term and don't pay well.
Every now and then, the news media repport how little real estate transactions are being registered and how the business is constantly shrinking.
Most people live in rentals, with no decent access to serious credit allowing them to become owners.
An impressive lot are behind with rent and expensas. The landlords atruggle to keep their properties, not to make huge profits since value goes down simply by the lack of demand, available USD and rising cost of maintaining the property. Downward spiral.

So, unless some of you get this picture straight in your heads, you'll headed to a constant clash with your landlords who the last thing they need is a PITA tenant.

Trade your Toad Skins with a smile or be treated like an unfortunate regular Joe with ever insufficient Ice Cones.

Iz

During the first couple years of the Macri years I paid a landlord in dollars (2 year contract with no rent increase), then after a year of the peso staying strong against the dollar, the landlord wanted 100USD more in rent because he expected the peso to weaken more against the dollar and thought he would have a higher rent in pesos. Later I had a year contract in pesos. The peso dropped like a rock and the landlord had such a fit about it that I gave him more pesos a month even though a price was already decided in pesos. Finally I had a South African landlord who asked for a certain amount in dollars, I paid him that amount every month and that was the end of it - perfect arrangement.

I have no problem with landlords asking for dollars upfront especially if it's a premium apartment. I also feel bad for the crap that some landlords like gary have to put up with who have asshole tenants with no respect for their place. I have a problem with landlords who always want the upside - peso doesn't weaken enough , they want more money, peso weakens too much they want more money. There are some that think they can take advantage because someone is a foreigner too, not because it's such a premium spot that it will only be rented to a foreigner with dollars.

If rent is so low margin, then that means real estate is overvalued here and there needs to be a price correction.

 

[ventanilla]

If I were the landlord, I´d just get rid of the tenant as soon as the splitting hairs starts.

You can't just do that, even with an informal rental any lawyer would salivate at the mouth at the prospect of such a case. The tenant is well within their rights to change the locks and ignore the landlord except to pay rent.

 

[Rich One]

You can't just do that, even with an informal rental any lawyer would salivate at the mouth at the prospect of such a case. The tenant is well within their rights to change the locks and ignore the landlord except to pay rent.

Landlords can legally cancel a rental contract under certain circumstances.. Please find out! Need legal advice.
Terminal illness , ailing parents , among others..!