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

[Iznogud]

The famous «Screw me, screw you Blues».

Already less rental properties, more (unaffordable for most) for sale.

Construction industry will take another final blow as investment fades to nothing.

Construction workers are essentially temps working for a journal income, not a monthly one since they are sort of specialized.

But on paper, the deal looks democratic enough to be popular (and fool those stupid enough not to see the mid-long term effects).

Good job.

Iz

 

[Ceviche]

Can anyone clarify, if new rental law obliges tenant to buy "inmobilaria" fees?

Today I met one immobilaria and she lied to me ( I believe ) that the tenant must pay too.

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And if the lease is for 3 years, what are rights of tenant to quit after 1 year?

 

[Rich One]

Can anyone clarify, if new rental law obliges tenant to buy "inmobilaria" fees?

Today I met one immobilaria and she lied to me ( I believe ) that the tenant must pay too.

---
And if the lease is for 3 years, what are rights of tenant to quit after 1 year?

No rights ..! perhaps cancel half the contract?

Any changes to the eviction procedures ..
Currently the Eviction Procedures are suspended since Many tenants aren't paying rent

.Tenants that can't be evicted?

1. Tenant with a family minor resident
2. Tenant with some sort of handicap, vision, motion, operated ..
3. Tenant over 70 or with resident senior parents
4. Other..

 

[gracielle]

A dos meses del cambio de la Ley de Alquileres, ¿cuál fue el impacto en los valores de las rentas y en la oferta el propiedades?

Desde las inmobiliarias aseguran que se redujo la oferta de propiedades por el cambio en los términos de ajustes y la extensión de plazo de los contratos. La Asociación de Inquilinos confía en el contralor oficial

www.infobae.com

8 August 2020
Two months after the change of the Rental Law, what was the impact on the values of the rents and on the supply of the properties?

A dos meses del cambio de la Ley de Alquileres, ¿cuál fue el impacto en los valores de las rentas y en la oferta el propiedades?

Desde las inmobiliarias aseguran que se redujo la oferta de propiedades por el cambio en los términos de ajustes y la extensión de plazo de los contratos. La Asociación de Inquilinos confía en el contralor oficial

translate.google.com

 

[Rich One]

Extremely interesting, the increase in rental prices 30 % so far this year way over the inflation of 16.3%. The new law favors no one..! Who and how will the Rental Law be enforced..??

The most controversial issue for landlords is the guarantee issue, can't exceed one month rental, on three year contract..!

 

[gracielle]

Who and how will the Rental Law be enforced..??

May be the task of the AFIP as...It is mandatory to declare lease contracts before the Federal Administration of Public Revenues.

 

[Iznogud]

May be the task of the AFIP as...It is mandatory to declare lease contracts before the Federal Administration of Public Revenues.

You must declare your real estate properties.
Assuming you live in one of them, the rest are work related, leisure or rental.

Nowadays, they can easily crosscheck utilities and other services at each location, use reconnaisance drones and satellite pics (land, countries), etc and figure out if the properties are uninhabited, have undeclared buildings and pools, etc.

Anyways, many, many appartments and housesstill remain under the radar. Airbnb was the perfect solution for those wanting to rent and cash it quietly abroad.

Most properties offered to diplomats, embassies, foreign companies follow this practice of remaining undeclared to the local authorities. Hardly a secret.

Iz

 

[Alpinista]

This new law is all over the media now because as of March 1 the contracts need to be reported to AFIP.

I might have missed this point in a conversation here (and also did not find anything in the media about it), but how do owners report it if they use platforms such as Airbnb? (probably not a big market right now with tourism dead for a year or so).

 

[Alpinista]

And in infobae was an article why it is more and more difficult to rent out under the local law (google translated):

1.- Hire an accountant to bill the rent.

2.- Register the contract with the AFIP.

3.- If you rent through a real estate agency, the full fees must be paid. This is equivalent to 4.15% of the total amount of the contract.

4.- Accept at least three guarantee alternatives proposed by the future tenant.

5.- Sign a contract for a three-year extension, with no possibility of terminating it. Instead, the tenant can do it three months in advance. To re-rent the property through an intermediary, the fees must be paid again.

6.- The owner receives a one-month deposit of the rental value at the time of signing the contract. But he must return the updated value at the time of delivery of the keys when the tenant leaves the property.

7.- For a year, you cannot adjust the rental value if you rent it as a home. The adjustment will depend on an index (ICL) published by the Central Bank.

8.- The owner is in charge of the property tax.

9.- You must notify three months in advance if you renew or not the contract and inform the new rental value.

10.- During the contract, you run the risk of a decree establishing a price freeze and a ban on evictions.

Given that the normal return on your USD property is roughly 1%-2%, I wouldn't even consider renting a department / house in CABA (exception probably if you are in the high end sector where you there is a high demand such as countries etc). That basically only leaves Airnbnb (at least you have some kind of guarantee from them in case of problems with the tenants)

 

[Redpossum]

Yes, but all this is about long-term rentals.

The short-term rental market is a horse of a different color. The owner has a chance to raise the rent or get rid of a troublesome tenant every 3 months.