Can a foreigner rent a long-term rental in pesos in Buenos Aires? Running into issues with everyone asking for co-signer that owns property

[blessing]

I just visited Buenos Aires and really loved it. I am American but my girlfriend is from Argentina. She hasn't been back in many years but she also loved it. She has a US passport as one of her parents is from the United States. We are thinking of moving to Buenos Aires as it is more affordable there. We both fell in love with the city. We thought it would be easier to move there and find a long-term rental because she has a DNI there.

We both have some savings but don't want to blow through all of it. We would both need to find remote jobs. I am not sure how easy that is from Argentina and will research it more but we are investigating housing options. We looked on ZonaProp as it is much more affordable vs. Airbnb. I am leery about moving down there without having a place locked in on a long-term lease. We inquired at a few and they are saying we need a co-signer that owns property there? My girlfriend said this seems common there to have a co-signer but she doesn't have family there she can ask.

Up until last month, we saw almost no options for long-term rentals but we see more options now but this co-signer thingy has come up. Even though she has a DNI she doesn't have a job there so people are not too eager to rent without this co-signer. Is this normal?

 

[Betsy Ross]

The likelihood of you finding a long-term lease and being able to pay month to month is not likely unless you prepay 6 to 12 months ahead of time. The tenant laws there are very strong so if someone stops paying you need to go to the court system to remove them. This is why they ask for a guarantor or co-signer. That is the rationale behind why they ask.

Many of my friends that rent here on long-term leases just pre-pay 12 months ahead of time and have a contract in US Dollars. Keep in mind some owners will demand the actual cash in $100 US bills. A few might let you do a wire transfer to their account outside of Argentina.

 

[old fart]

I think you might want to line up the part about finding a remote job BEFORE finding an apartment. I think your priorities are out of order. It's not as easy to find a good-paying remote job as one might think. Many people fall in love with BA and uproot their lives to move here but then figure out they can't make enough money to live here.

 

[earlyretirement]

The likelihood of you finding a long-term lease and being able to pay month to month is not likely unless you prepay 6 to 12 months ahead of time. The tenant laws there are very strong so if someone stops paying you need to go to the court system to remove them. This is why they ask for a guarantor or co-signer. That is the rationale behind why they ask.

Many of my friends that rent here on long-term leases just pre-pay 12 months ahead of time and have a contract in US Dollars. Keep in mind some owners will demand the actual cash in $100 US bills. A few might let you do a wire transfer to their account outside of Argentina.

This is good advice. The tenant laws are horrific and it's difficult to evict someone for non-payment and that's why they demand someone co-sign for you. The "guarantia" (co-signer) is normal and keep in mind you can't be your own even if you own property in CABA. When I was leasing my office space I owned many properties in Recoleta and they wouldn't allow me to use my own. I had to ask my best friend and he did co-sign for me for my office.

Even if people own properties, they don't like to be the guarantor for someone else. I have reluctantly done it for some family members. What I would recommend is you look on Airbnb and ask owners of properties that you might like if they would be open to renting long-term. And I would highly recommend going and staying 2-3 nights first to make sure you like the area, apartment, building, etc. You can see noise levels, etc.

I have done that several times over the past 20 years. I have rented to Americans, Europeans and Canadians like that. I have charged 1 year upfront and allowed them to just wire to my USA bank account. I've never had any issues doing this. Typically I pay for all utilities except for electricity. It's always been a win/win for both sides.

The tough thing is just finding a place that doesn't have bookings far ahead of time in them. Or if you have a friend that you trust, you can have them check out the place or rent it for 2 nights to check it out for you. I'm not sure if you're in BA now or not.

I also agree with @old fart you may want to see what options exist for remote work before you arrive. I'm not sure of your scenario if this is just a short-term thingy to experience life abroad. I am all for those type of experiences if you can afford them.

 

[blessing]

Thank you both for explaining the reason why they are asking for a co-signer. Now I understand it. That is a good idea about Airbnb but the issue I found is all the Airbnb's that we liked were much more expensive vs. the listings we saw on ZonaProp for long-term rental. But we will explore more about the possibility to pay 12 months ahead of time. That would be doable for us.

 

[Wally]

I am not sure if this insurance is available for foreigners. But maybe if your girlfriend has a DNI she can qualify for this insurance coverage. I know sometimes when people can't find a guarantor, they can buy coverage from a bank. I heard it was expensive but you may want to look into it.

Seguro de caución para alquileres | BBVA Seguros Argentina

Este seguro brinda una garantía al propietario ante las obligaciones contraídas por el inquilino en el alquiler de viviendas particulares. Conoce más aquí.

www.bbvaseguros.com.ar

 

[Flamingo]

I am not sure if this insurance is available for foreigners. But maybe if your girlfriend has a DNI she can qualify for this insurance coverage. I know sometimes when people can't find a guarantor, they can buy coverage from a bank. I heard it was expensive but you may want to look into it.

Seguro de caución para alquileres | BBVA Seguros Argentina

Este seguro brinda una garantía al propietario ante las obligaciones contraídas por el inquilino en el alquiler de viviendas particulares. Conoce más aquí.

www.bbvaseguros.com.ar

I have had a friend that purchased this "Seguro de Caucion" but I do believe they not only require a DNI but you have to have declared income with AFIP which doesn't sound like this is the case with the OP or his girlfriend.

 

[blessing]

I am not sure if this insurance is available for foreigners. But maybe if your girlfriend has a DNI she can qualify for this insurance coverage. I know sometimes when people can't find a guarantor, they can buy coverage from a bank. I heard it was expensive but you may want to look into it.

Seguro de caución para alquileres | BBVA Seguros Argentina

Este seguro brinda una garantía al propietario ante las obligaciones contraídas por el inquilino en el alquiler de viviendas particulares. Conoce más aquí.

www.bbvaseguros.com.ar

Thank you to all who have posted good info. My girlfriend checked and they said that she had to have income in Argentina to qualify for this insurance. People are correct that we can by-pass this requirement if we pay 6 months to 12 months ahead of time. But what happens if there is an issue? Or something breaks? It seems like I'm taking all the risks.

Also, I noticed there is cheap Craiglist postings for rentals. Are they safe?

buenos aires apartments / housing for rent - craigslist

buenos aires apartments / housing for rent - craigslist

buenosaires.craigslist.org

 

[Vince]

You may want to try a company like ByTArgentina. They have been around forever. I used them on my first trip to Buenos Aires 15 years ago. Nothing over the top nice but I used them over a dozen times before I bought a place here. Never had issues. We had a few friends that got scammed on Craigslist. I would avoid that hassle.

ByT Argentina Temporary Rent and Apartments in Buenos Aires

First agency of temporary rental in Buenos Aires. Our furnished apartments in Buenos Aires will offer you the comfort of a well equipped home at your convinience.

bytargentina.com

 

[sangM]

The likelihood of you finding a long-term lease and being able to pay month to month is not likely unless you prepay 6 to 12 months ahead of time. The tenant laws there are very strong so if someone stops paying you need to go to the court system to remove them. This is why they ask for a guarantor or co-signer. That is the rationale behind why they ask.

Many of my friends that rent here on long-term leases just pre-pay 12 months ahead of time and have a contract in US Dollars. Keep in mind some owners will demand the actual cash in $100 US bills. A few might let you do a wire transfer to their account outside of Argentina.

No way you will find a peso rent. After the election, most people are only renting in US dollars. What I did was I would first make sure I liked the apartment and that the internet worked well. Then you can offer the owner to rent long term. I did this with a local and although they already had future rentals they cancelled them when I said I would rent for 6-12 months.

I locked in a 12 month lease and I paid the rent up front. I am glad as prices went up since but I don't have to hassle with moving around every few weeks/months. I had to get cash here which was the most nervous part but it all worked out well. The owner who I became friends with had a contact for cueva. It worked out well.

 

[MikeYoung]

I did the Airbnb thing and then just offered the owner several months upfront. That works well and I now pay 6 months ahead of time.

 

[StatusNomadicus]

ZonaProp

ZonaProp is 80% fake or outdated. i hate that site

all the Airbnb's that we liked were much more expensive

are you experienced on Airbnb? i'm paying less than $800 USD monthly on Airbnb (so could get 15% cheaper with cash, easily) for a big 1-bedroom apartment with a huge wrap-around terrace on the top floor, with a washer and King bed. what price are you looking at?

Milei's repeal of the rental law is immediately working

People will realize that common sense measures will have an immediate impact. The Senate and Congress failed to act and the long-term rental market was mired with issues and took off about 99% of the long-term rentals off the market. A situation that was unparalleled in Argentina or around...

www.expatsba.com

 

[Dazed & Confused]

ZonaProp is 80% fake or outdated. i hate that site

Agreed!! Our broker has contacted many listings and many times they say the same thing. The property is no longer for sale but we have another option! Classic bait and switch. Here is a novel idea. If it's not for sale anymore remove the listing!!

Yet others our broker has tried to see it wasn't available for all of January to see. How about removing the listing if you can't show it. Just strange. Our broker has been going directly to listing pages directly with brokerages like ReMAX where properties are actually real.

So far our experiences there show us that Argentina is kind of whacky and it is no wonder the country has so many economic issues!

 

[Anchor Baby]

In reviewing information on this site and others it sounds like a long term lease is very difficult for a foreigner without someone that would co-sign. We don't know anyone here. I'm told there are insurance companies or banks where you can buy a policy but my husband said he called and they said without permanent residency they won't sell the policy.

We are also looking for a furnished rental. Some Airbnb owners say they will do a long-term lease but we must prepay 12 months ahead of time as you all mention in this thread. Obviously we would do a contract but this just sounds like a hassle. We did not have this issue in Mexico City. Have any members on this forum done it? Did they want the actual cash or could you wire to an account outside of Argentina? Some owners want the actual cash. Thanks for any advice.

 

[Larry]

In reviewing information on this site and others it sounds like a long term lease is very difficult for a foreigner without someone that would co-sign. We don't know anyone here. I'm told there are insurance companies or banks where you can buy a policy but my husband said he called and they said without permanent residency they won't sell the policy.

We are also looking for a furnished rental. Some Airbnb owners say they will do a long-term lease but we must prepay 12 months ahead of time as you all mention in this thread. Obviously we would do a contract but this just sounds like a hassle. We did not have this issue in Mexico City. Have any members on this forum done it? Did they want the actual cash or could you wire to an account outside of Argentina? Some owners want the actual cash. Thanks for any advice.

Yes many want cash. Make sure to have a contract and it must be in Spanish to be valid. Ask them if they have an account in the US or Europe. Many owners might allow you to make a wire but some don't want any record for tax purposes so many want cash. Before I bought my flat I had to pay in cash. Very normal here. But now some will ask to be paid in pesos with an inflation adjustment so keep that in mind.

 

[Anchor Baby]

Yes many want cash. Make sure to have a contract and it must be in Spanish to be valid. Ask them if they have an account in the US or Europe. Many owners might allow you to make a wire but some don't want any record for tax purposes so many want cash. Before I bought my flat I had to pay in cash. Very normal here. But now some will ask to be paid in pesos with an inflation adjustment so keep that in mind.

What I don't understand is supposedly there are a lot of units on Airbnb but many owners don't want to rent long term unless you pay 12 months up front in cash. I offered a few to go through Airbnb and do a year lease. That way I only have to pay each month vs. everything up front. But owners do not want to do that? Why not? I would think they have peace of mind with booking through Airbnb. I'm even paying 10% more as I have to pay Airbnb a commission but feel safer renting that way in case there is a problem. What gives?

Also, many owners are so wishy washy. I had a verbal agreement and all was going ok to rent for 12 months and then the owner changed the price at the last minute before we were going to sign a contract. Is this normal? Seems very unethical to agree and then want $300 USD more per month the day before we're going to sign a lease.

 

[earlyretirement]

What I don't understand is supposedly there are a lot of units on Airbnb but many owners don't want to rent long term unless you pay 12 months up front in cash. I offered a few to go through Airbnb and do a year lease. That way I only have to pay each month vs. everything up front. But owners do not want to do that? Why not? I would think they have peace of mind with booking through Airbnb. I'm even paying 10% more as I have to pay Airbnb a commission but feel safer renting that way in case there is a problem. What gives?

Also, many owners are so wishy washy. I had a verbal agreement and all was going ok to rent for 12 months and then the owner changed the price at the last minute before we were going to sign a contract. Is this normal? Seems very unethical to agree and then want $300 USD more per month the day before we're going to sign a lease.

@Anchor Baby,

People here are very very flaky and many are un-ethical. I formally owned the largest property management company in Argentina. I started before Airbnb existed and I've seen it all. Many locals just want the cash up front. I do the same thing on long term leases. I've never had any issues that way. It usually works out for everyone as the price is also locked in for the year. There is usually an inflation adjustment for year 2.

Owners don't want to do it via Airbnb because as the tenant you can always end the lease and then just pay 1 month penalty. Owners don't want to go through the hassle of blocking it out for a year and then having you cancel as it's a royal pain. Also, owners are only getting paid each month vs. all the cash up front so many find that more desirable. That is most likely the reason.

Some things don't make sense at all. The locals don't always act logically or reasonably. There is a lot of competition but I still make more net income renting out short-term vs. long term as my properties stay fairly busy.

I know you're hesitant to pay a year up front so try to negotiate maybe less months up front but many won't want to do that.

 

[Betsy Ross]

What I don't understand is supposedly there are a lot of units on Airbnb but many owners don't want to rent long term unless you pay 12 months up front in cash. I offered a few to go through Airbnb and do a year lease. That way I only have to pay each month vs. everything up front. But owners do not want to do that? Why not? I would think they have peace of mind with booking through Airbnb. I'm even paying 10% more as I have to pay Airbnb a commission but feel safer renting that way in case there is a problem. What gives?

Also, many owners are so wishy washy. I had a verbal agreement and all was going ok to rent for 12 months and then the owner changed the price at the last minute before we were going to sign a contract. Is this normal? Seems very unethical to agree and then want $300 USD more per month the day before we're going to sign a lease.

You will find that many owners here don't act logically. Before I purchased my apartment I was leasing. I had to pay 6 months up front cash and about 2 months before it came up, I had to pay the other 6 months. It worked out OK for the first year but then the owner hit me up for a huge increase on year #2. Inflation is always a factor here. I was all set to renew the lease and then they wanted almost double for year #2. I loved the apartment but wasn't going to pay double.

I haven't used Airbnb for a long-term lease. Usually people just get an agreement and rent outside of Airbnb so they both can save money. Airbnb charges both the renter and the owner a commission. Owners would just prefer to have that off the books so they don't have to pay any taxes. I'm not sure if Airbnb reports to Argentina the income. I know they do for American owners.

It was all the hassles and pain that pushed me to buy a place and I'm glad I did.

 

[Spend Thrift]

In reviewing information on this site and others it sounds like a long term lease is very difficult for a foreigner without someone that would co-sign. We don't know anyone here. I'm told there are insurance companies or banks where you can buy a policy but my husband said he called and they said without permanent residency they won't sell the policy.

We are also looking for a furnished rental. Some Airbnb owners say they will do a long-term lease but we must prepay 12 months ahead of time as you all mention in this thread. Obviously we would do a contract but this just sounds like a hassle. We did not have this issue in Mexico City. Have any members on this forum done it? Did they want the actual cash or could you wire to an account outside of Argentina? Some owners want the actual cash. Thanks for any advice.

This was the same experience I had @Anchor Baby! I ran into the same issues. Crazy owners who were frustrating to deal with and kept changing the terms/prices. I posted about this last year. The insurance policies for the guarantee don't work with foreigners. It is only for people with permanent residency or at least the 2 that I tried wouldn't let me.

I had to pay 12 months in advance which was ok. All has been good with my apartment the past few months.

@Anchor Baby,

People here are very very flaky and many are un-ethical. I formally owned the largest property management company in Argentina. I started before Airbnb existed and I've seen it all. Many locals just want the cash up front. I do the same thing on long term leases. I've never had any issues that way. It usually works out for everyone as the price is also locked in for the year. There is usually an inflation adjustment for year 2.

Owners don't want to do it via Airbnb because as the tenant you can always end the lease and then just pay 1 month penalty. Owners don't want to go through the hassle of blocking it out for a year and then having you cancel as it's a royal pain. Also, owners are only getting paid each month vs. all the cash up front so many find that more desirable. That is most likely the reason.

Some things don't make sense at all. The locals don't always act logically or reasonably. There is a lot of competition but I still make more net income renting out short-term vs. long term as my properties stay fairly busy.

I know you're hesitant to pay a year up front so try to negotiate maybe less months up front but many won't want to do that.

Exaxctly! I got so pissed when we were going to sign a contract and then the night before or the day of they would want to change the terms! And realtors wanted one MONTH of commission if it was listed with a realtor. What a scam! I have been to several countries and I think it was the most frustrating here in Buenos Aires.

 

[fool in love]

What I don't understand is supposedly there are a lot of units on Airbnb but many owners don't want to rent long term unless you pay 12 months up front in cash. I offered a few to go through Airbnb and do a year lease. That way I only have to pay each month vs. everything up front. But owners do not want to do that? Why not? I would think they have peace of mind with booking through Airbnb. I'm even paying 10% more as I have to pay Airbnb a commission but feel safer renting that way in case there is a problem. What gives?

Also, many owners are so wishy washy. I had a verbal agreement and all was going ok to rent for 12 months and then the owner changed the price at the last minute before we were going to sign a contract. Is this normal? Seems very unethical to agree and then want $300 USD more per month the day before we're going to sign a lease.

I sent you a PM. I know the struggles of what you're going through. I leased an apartment for 12 months for my ex-girlfriend and myself. It was actually easier renting as a foreigner than my girlfriend who has a DNI and from Argentina. Locals don't want to deal with fellow locals which I thought was strange but it seems like if they are going to get screwed with the insane squatter rights they assume it will be a local. I found dealing with an American lawyer was much preferred. I paid 12 months ahead of time and prepaid the lease.

I gave my ex-girlfriend one month to get all her things out of the apartment. Mine may be available for sublet. It's a larger 2 bedroom with an office. Not far from Alto Palermo mall. I'd sublet it for $2,600 USD per month. It's furnished very nice.