Rentals. The most controversial points of the law that the Senate could approve

[steveinbsas]

How do retirees rent down here with just ss income and no warranty on their own. I don't have much time now so I am looking at temp rentals.

A few months ago I learned from an insurance agent in Capital Federal that a few financial institutions were selling guarantees to foreigners.

I asked her if somene receiving Social Security benefits from the USA could "buy" a guarantee for a "long term" rental

She told me the answer is YES, as long as the monthly rent does not exceed 40% of the monthly income.

 

[steveinbsas]

What will happen is that every landlord in CABA will immediately want to raise the rent on every tenant.

It would be interesting to know what expats think about this youtbe video which just appeared "in my shorts" (not the result of a search).

 

[Rich One]

It would be interesting to know what expats think about this youtbe video which just appeared "in my shorts" (not the result of a search).

Comments: Perhaps the speaker is in favor of a socialist state with no private property..? like Cuba with no parasite landlords..?

 

[Redpossum]

It would be interesting to know what expats think about this youtbe video which just appeared "in my shorts" (not the result of a search).

Pues, es complicado...
When I was younger, I would have agreed. Now that I've embarked upon the 7th decade of my life, I have to say that I have more mixed feelings. It is a very complicated issue.

The retiree who owns two apartments, living in one and renting out the other for income to supplement an inadequate pension, is definitely not what I'd call a parasite. A giant mega-corporation like Black Rock, on the other hand, which owns tens of thousands of properties and drives up rents for corporate profit, I would call a parasite, (but not an efficient one, because it kills its host).

Mostly, I am just amused by Steve telling us what "appeared in his shorts". When I first read that line, I heard in my imagination the opening fanfare from La Corrida, as featured in this old song by Herb Alpert.

The YouTube algorithm has become very weird in recent years. Nobody knows how it works, but it definitely promotes some videos heavily, and evidently really wants me to watch some videos. The same video will persist in my "suggested" area for weeks or even months, if I stubbornly refuse to watch it. And Lord knows I can be one stubborn old sonofabitch.

In any case, there's not a damn thing I can do about any of it. It does affect me very directly, as my seemingly endless quest for a better apartment drags on and on and on and on, like The Search For The Holy Grail. But life is too short, and my remaining days too few, for me to waste precious time worrying myself over the philosophy of it all.

...

Then again, class struggle is the engine of the historical dialectic...

 

[Rich One]

With the current Rental legal situation, no one is signing new contracts until the existing law is repealed or an new law is in place .
In my building with 150 units there is a fury of construction to convert units into temporary rentals, with Airbnb or similar
Tenants under existing 3-year contracts are Disliked because owners would like to terminate the contracts and turn to Temporary rentals with some renewal investment.
The ROI on current rentals is between 2 or 3 % p.a. The ROI on temporary rentals is estimated over 10 and perhaps 15% p.a. According to Adrian Mercado.

 

[DK72]

With the current Rental legal situation, no one is signing new contracts until the existing law is repealed or an new law is in place .
In my building with 150 units there is a fury of construction to convert units into temporary rentals, with Airbnb or similar
Tenants under existing 3-year contracts are Disliked because owners would like to terminate the contracts and turn to Temporary rentals with some renewal investment.
The ROI on current rentals is between 2 or 3 % p.a. The ROI on temporary rentals is estimated over 10 and perhaps 15% p.a. According to Adrian Mercado.

There are so many temporary rentals coming to the market now (everyone is jumping on this train it seems), the prices (ROI) invariably will be coming down.

 

[Jteee]

I’d argue that temporary rentals are going to continue to be more popular as they are more lucrative. Particularly with Buenos Aires being significantly cheaper than many other comparable size cities. For instance my large apartment here costs a third of the minimum I’d be paying in my hometown for a single room in a shared apartment which is a huge difference.

As surging rent takes an ever larger chunk of income, I think it’s inevitable that a greater volume of people will be seeking alternatives from expensive countries in the west and Argentina is a very desirable alternative.

I do wonder when the limit will be reached in the wider West as to the chunk of one’s income being spent on rent being so untenable that there’s little sense for a young worker working long hours in a professional job, handing over over half of their income to rent a single room and losing money at the end of the month just from the cost of living. As professionals depart along with their spending power being spent in their economies and the tax that comes with that, something has to give eventually

I feel a little uncomfortable that me being here, even in a minor way, perpetuates the rising rental prices and lucrativeness of temporary rentals but at the same time my quality of life here is so much greater than in my hometown. I take some solace in that my salary is being pumped into the Argentinian economy, but to whom living here does that truly benefit?

Maybe we are all just on different rungs of a ladder seeking to arbitrate a better quality of life. Capitalism needs controls but in a multi state world, it’ll always be impossible to harmonise such controls

 

[RinoG]

I agree with @Jteee . Latin America is the short term B plan of many westerners and Buenos Aires hasn't much competition in terms of metropolis in South America. People want the freedom to move around and make experiences. STRs give them this opportunity. Who invests in STRs makes their bet to stay put in a given market for a few years. They take a risk, there must be a return. Setting up a STR imply costs that ordinary rentals do not have. Furthermore, in STRs the landlord usually pays utilities, too, and those can increase considerably over time.

Argentinian AirBnB hosts were discussing that since in summer the A/C consumption is higher, they have higher costs, hence higher daily rates.

Argentinians laws and rules are often unrealistic for the actual country.

 

[Jteee]

I agree with @Jteee . Latin America is the short term B plan of many westerners and Buenos Aires hasn't much competition in terms of metropolis in South America. People want the freedom to move around and make experiences. STRs give them this opportunity. Who invests in STRs makes their bet to stay put in a given market for a few years. They take a risk, there must be a return. Setting up a STR imply costs that ordinary rentals do not have. Furthermore, in STRs the landlord usually pays utilities, too, and those can increase considerably over time.

Argentinian AirBnB hosts were discussing that since in summer the A/C consumption is higher, they have higher costs, hence higher daily rates.

Argentinians laws and rules are often unrealistic for the actual country.

Very good point about utilities which have become horribly high in the last year in the west

 

[argentinaorbust]

Recently paid 900 p/month for a gorgeous, brand new luxury villa in a top tourist destination by a very unhappy, newly poor owner who tried every trick in the book to scam us. Wouldn't do it again, but it was a decent stay. Yes, we're vultures doing geo arbitrage, the Argentines know & hate it, but the only reason a guy like him could build a home fit for a king was due to decades of welfare state government subsidies - not merit - I don't feel bad.

Most STRs outside BA, are sitting empty. I've seen entire neighborhoods empty, it's 2006 S. Florida in most of Argentina right now. If you have high risk tolerance & go full vulture - amazing deals can be had. If you want 0 risk, it's 200-300 p/night for short stays or 4-5k us p/month for long stays on resort/luxury like accommodation, which is also rapidly expanding in Argentina, for the precise reason of not having to deal with Argentines.