Why Pay Rent?

[Noesdeayer]

El Queso
I agree absolutely.The best investment in Argentina was always land itself.not "bricks"
If you plan to stay really long term and can get a mortgage,do so.Depending on the moment and the $$$ one has to invest, land in a devoloping area is the best bet.
I bought a plot in Nordelta as an investment in 2003 and sold it at a markedly good profit in 2008.
Of course,in the past it always helped that the economy was up and down a lot.
The refran criollo exists for a reason "Hoy por mi,mañana por ti".
.But,as you say."if laws and attitudes change" with Macri, maybe rental properties could begin to look more interesting.a little later on.

 

[estebandepraga]

I am a product of the often corrupt Porteno society and I have my flaws but not paying your due rent because you think it's too high or have other things(and not a life-saving operation) to do with the money is like going to a store and stealing something because you think the price isn't fair and you want and need it. THEN LOOK FOR ANOTHER BRAND, ANOTHER NEIGHBOURHOOD, ANOTHER OPTION!
I have rental property in BA and it has been for me not a major hassle as I have always had good tenants who paid; I can't say that about the Europeans and Brazilians I have had here in rental properties in Prague or the Americans I have had while living there! You can't always read a book by its cover so luck has a ton to do with it! and to quote one more old addage, " a bird in the hand is better than 2 in the bush"
I think now is NOT a good time to buy in BA and when it is ," the early bird catches the worm".(Sorry, 3rd quotation).
When I bought my last properties in BA, I got up early every and I MEAN EVERY morning early, bought the papers(pre 99%internet listings) and walked up and down streets looking for signs or building which were interesting to me and guess what EUREKA! I found them! I agree with the Argie way of thinking..best investment is in "ladrillos" or bricks but do your homework and know what you are buying and from whom!
Good luck!

 

[Rich One]

My Argie wife has always thought we should invest in a rental property here. Stories like yours have prevented me from doing so. Still, in her mind there is no better investment than real estate. I say we have saved ourselves a lot of headache by not buying here.
In most places if you don't pay your rent, you are on the street. Here you get a slap on the back and get to wear the honor badge of "vivo."

Tell us your story for the benefit of those who think it is a good idea to buy a rental property here.

I live in a building with 150 apartment on short term rental without guarantia, Evictions take place very often since many of the tenants are from Venezuela, Colombia, etc. and many are students sharing a studio. The Eviction process takes at least 6 months , to get a eviction order and truck the belongings to a Judiciary Deposit warehouse.

The most renown case is a Tenant from the Caribbean, an Argie resident. that was a handicapped, and over 60 who was able to stay 2 years without paying rent or utilities. He Asked the owner for US$5000 to void the apartment and then moved when paid. It its a jubilado or children are invloved .... forget it.

A Real Estate Person indicated that years ago owners could get 1% per month net monthly Rental income .Or lets say US$1000 on a US$100.000 property. Not any more now perhaps is closer to 0.5 % per month??
You go figure out...

 

[PaulBee]

I am a product of the often corrupt Porteno society and I have my flaws but not paying your due rent because you think it's too high or have other things(and not a life-saving operation) to do with the money is like going to a store and stealing something because you think the price isn't fair and you want and need it. THEN LOOK FOR ANOTHER BRAND, ANOTHER NEIGHBOURHOOD, ANOTHER OPTION!
I have rental property in BA and it has been for me not a major hassle as I have always had good tenants who paid; I can't say that about the Europeans and Brazilians I have had here in rental properties in Prague or the Americans I have had while living there! You can't always read a book by its cover so luck has a ton to do with it! and to quote one more old addage, " a bird in the hand is better than 2 in the bush"
I think now is NOT a good time to buy in BA and when it is ," the early bird catches the worm".(Sorry, 3rd quotation).
When I bought my last properties in BA, I got up early every and I MEAN EVERY morning early, bought the papers(pre 99%internet listings) and walked up and down streets looking for signs or building which were interesting to me and guess what EUREKA! I found them! I agree with the Argie way of thinking..best investment is in "ladrillos" or bricks but do your homework and know what you are buying and from whom!
Good luck!

I just want to point out that the rents were very reasonable for the rather impressive rental properties: better than I can afford for myself, but rent is my only source of income so I try to give my tenants the best.

 

[PaulBee]

Long term unfurnished typical rentals require a guarantee, salary receipt, etc, etc, etc because of multiple horror stories. Now if people renting temporary short term without these requirements started to behave in the same way, landlords will start to ask for all of this as well. Most tenants pay because is the right thing to do ( fortunately )

When a tenant is being a j**k you have to use other creative ways to get they to vacate your property, a lawyer, real estate form, etc will not be able to help much.

One Buenos Aires landlord burned his rental house down in order to get rid of deadbeat tenants. I relate to what you´re saying re the lawyers, ec. being unable to
help. I´ve won a court case against my deadbeat tenant, then I won 2 appeals. My lawyer told me my tenant would be put into bankruptcy in 2015. It hasn´t happened yet.

 

[PaulBee]

I live in a building with 150 apartment on short term rental without guarantia, Evictions take place very often since many of the tenants are from Venezuela, Colombia, etc. and many are students sharing a studio. The Eviction process takes at least 6 months , to get a eviction order and truck the belongings to a Judiciary Deposit warehouse.

The most renown case is a Tenant from the Caribbean, an Argie resident. that was a handicapped, and over 60 who was able to stay 2 years without paying rent or utilities. He Asked the owner for US$5000 to void the apartment and then moved when paid. It its a jubilado or children are invloved .... forget it.

A Real Estate Person indicated that years ago owners could get 1% per month net monthly Rental income .Or lets say US$1000 on a US$100.000 property. Not any more now perhaps is closer to 0.5 % per month??
You go figure out...

Perhaps there are niche groups or types of properties which have a much lower risk of not being able to collect rent?

 

[Ceviche]

I live in a building with 150 apartment on short term rental without guarantia, Evictions take place very often since many of the tenants are from Venezuela, Colombia, etc. and many are students sharing a studio.

You seem to live in a interesting building! Is it the same building swarming with trannies, if I remember correctly?

 

[Rich One]

You seem to live in a interesting building! Is it the same building swarming with trannies, if I remember correctly?

Yes, among many other tenants , I have many requests for invitations to the building pool. is that the case with you??

 

[citygirl]

Playing that game is the status quo here. You see it in all areas of life here. I have clients 6+ months in arrears on the board for their horses. Meanwhile guess who has to put their hands in their wallet to feed their horses every day? Us. Not all of our Argentine clients are like that but those that pay on time are by far the minority. As in I can think of one or two over the last 6+ years. Why? Because when they pay me the monies due in 6 months, it costs them 10or 15% less when you factor in inflation. Which is absolute BS because I"m spending the money today. These same clients that don't pay have tons of money. It is absolutely infuriating.

In response to the original question - I paid the rent on time b/c I agreed to it when I signed the contract. And my word and my name mean something to me.

 

[ccurrie]

Just a question is it difficult to rent in Buenos Aires especially with a dog? I can get a guarantee from my family in America if that's what you need. I am looking to pay $2.000 USD/month with utilities (electric, gas, water, trash, internet, and option for satellite tv) included in a good neighborhood like Palermo. I have one dog who's a 33 kg neutered/castrated male Briard (French Sheepdog) who's never caused any problems even in 5 star European hotels. I'd like it to be around ideally at least 100 square metres with a patio/backyard or rooftop terrace and fully furnished. Is this possible? Also are long term leases available? I don't want to move after just a year.