I'd like to share my experience in the rental business here in Buenos Aires, as there seems to be a negative bias against landlords, especially regarding deposits and garantias.
I purchased a lovely penthouse in Palermo about eight years ago, with a spectacular terrace, intending to rent it out to expats or corporate executives. After careful consideration, I found a suitable tenant, a mid-aged American woman whom I'll refer to as Jennifer. She seemed perfect for the arrangement, owning several properties in the US and managing rentals herself.
To accommodate her, I agreed to allow subletting during the times she wouldn't be living here. The initial rental agreement went smoothly – one year with an option for another, no rent increase, and only a one-month deposit. Jennifer stayed for two years, handling various day-to-day issues without major problems.
However, when it came time to extend the lease for another year without a rent increase, things took a turn for the worse. She refused to pay rent, citing dissatisfaction with the living conditions. What followed were 12 months of legal battles, substantial costs for lawyers, loss of rental income, and other challenges. Despite her financial stability, Jennifer resisted fulfilling her contractual obligations.
Ultimately, after a year of struggles, I had to involve lawyers and a notary to formally terminate the rental contract, one step before the eviction process. It's worth noting that Jennifer had sublet the apartment during this time, profiting in dollars while causing significant issues for me.
Now, my rental contracts are meticulously crafted by top lawyers, with eviction papers pre-signed by a notary. This experience has provided me with a different perspective on the challenges landlords face in Buenos Aires and the precautions they take to safeguard their investments.
I purchased a lovely penthouse in Palermo about eight years ago, with a spectacular terrace, intending to rent it out to expats or corporate executives. After careful consideration, I found a suitable tenant, a mid-aged American woman whom I'll refer to as Jennifer. She seemed perfect for the arrangement, owning several properties in the US and managing rentals herself.
To accommodate her, I agreed to allow subletting during the times she wouldn't be living here. The initial rental agreement went smoothly – one year with an option for another, no rent increase, and only a one-month deposit. Jennifer stayed for two years, handling various day-to-day issues without major problems.
However, when it came time to extend the lease for another year without a rent increase, things took a turn for the worse. She refused to pay rent, citing dissatisfaction with the living conditions. What followed were 12 months of legal battles, substantial costs for lawyers, loss of rental income, and other challenges. Despite her financial stability, Jennifer resisted fulfilling her contractual obligations.
Ultimately, after a year of struggles, I had to involve lawyers and a notary to formally terminate the rental contract, one step before the eviction process. It's worth noting that Jennifer had sublet the apartment during this time, profiting in dollars while causing significant issues for me.
Now, my rental contracts are meticulously crafted by top lawyers, with eviction papers pre-signed by a notary. This experience has provided me with a different perspective on the challenges landlords face in Buenos Aires and the precautions they take to safeguard their investments.
