Milei's repeal of the rental law is immediately working

[BuySellBA]

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 the world for a city the size of Buenos Aires.

President Milei immediately took action and the long-term rental market is starting to work again.

Rents: the supply of apartments has grown by almost 20% in a week and it is estimated that February and March will be crucial - News Rebeat

Although the real impact on real estate demand is not yet known, everything seems to indicate that in recent weeks - after the repeal of the rent law - The supply of real estate has increased. Some market estimates show the reaction of owners after the deregulation of the law.…

newsrebeat.com

 

[earlyretirement]

Amen. It took someone with Milei's power and will to get the market working again. I knew once they repealed that law things would improve. Let's see how much of this goes back to normal now. I know many that have switched over to the Airbnb game and may not rent long term again.

 

[Katherina]

True I noticed more available to rent long term after this change. Prices have gone up quite a bit compared to last year.

 

[BuySellBA]

True I noticed more available to rent long term after this change. Prices have gone up quite a bit compared to last year.

Yes, and you can see another article here:

Rentals: Record increase in supply in just ten days

January 11, 2024

buysellba.com

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[StatusNomadicus]

Prices have gone up quite a bit compared to last year.

which areas? i'm seeing a whole lot of the same since i starting researching 6 months ago. Airbnb shows month-long stays in USD:

15Jan $522 https://www.airbnb.com/rooms/46810675
28Jan $498 https://www.airbnb.com/rooms/717413559674837744
30May $529 https://www.airbnb.com/rooms/29558454
30Jul $487 https://www.airbnb.com/rooms/3787575

under 600 USD per month, on Airbnb where the Host loses 12-15% and might be taxed later, is super cheap! i am paying $726 USD right now in Palermo Chico to have a private rooftop. where are you seeing these expensive prices? keep in mind that a ROOM in Prague, during the winter, costs about $700 USD

 

[Katherina]

which areas? i'm seeing a whole lot of the same since i starting researching 6 months ago. Airbnb shows month-long stays in USD:

15Jan $522 https://www.airbnb.com/rooms/46810675
28Jan $498 https://www.airbnb.com/rooms/717413559674837744
30May $529 https://www.airbnb.com/rooms/29558454
30Jul $487 https://www.airbnb.com/rooms/3787575

under 600 USD per month, on Airbnb where the Host loses 12-15% and might be taxed later, is super cheap! i am paying $726 USD right now in Palermo Chico to have a private rooftop. where are you seeing these expensive prices? keep in mind that a ROOM in Prague, during the winter, costs about $700 USD

Those are all too small. I am looking at 2 bedroom 2 bathroom as my parents visit me often and I often have friends staying. I did a search for 2 bedroom 2 bathroom in Palermo Hollywood preferably but looked in all of Palermo and prices are definitely higher now than when I was looking last year. I am putting in criteria for 2 bedrooms and 2 bathrooms and also I prefer 2 larger beds and put at least 6 months availability.

Also those places you listed do not look so nice to me. I want a place that is at least as nice as my place back home.

Airbnb | Palermo Hollywood - Vacation Rentals & Places to Stay - Palermo, Buenos Aires

Rent Rental Units, Lofts, Condos, and Serviced apartments in Palermo Hollywood, Palermo, Buenos Aires, Argentina from € 19/night. Find unique places to stay with local hosts in 191 countries. Belong anywhere with Airbnb.

www.airbnb.com

 

[Billy Goat]

Here is an article on new long term rental contracts.

Nuevos contratos de alquileres: los detalles de cómo se pactan y qué plazos y tipos de ajuste se están usando

Tras la desregulación del mercado, luego del DNU que derogó la ley, cada acuerdo es único y propietarios e inquilinos puede acordar las condiciones

www.infobae.com

New rental contracts: the details of how they are agreed and what terms and types of adjustments are being used. The deregulation of the market, after the DNU that repealed the law, each agreement is unique and owners and tenants can agree on the conditions....

Part of the Article:

Since the options are so diverse, they can be made with different clauses that are established by mutual agreement between owners and tenants with the intermediation of real estate agencies. The DNU introduced various reforms to the real estate leasing regime, including modifications to the early termination regime of rental contracts for housing (article 1221 of the CCyC).

Following the modifications, the tenant is given the possibility of terminating the contract at any time. However, this action entails payment to the landlord of 10% of the future rent, that is, the unearned portion of the rent. To calculate this payment, the period between the date of notification of termination and the agreed end date of the contract must be taken into account.

Contract Term : the term of housing rental contracts is agreed upon by the parties without a legal minimum. If the term is not specified in the contract, it will be two (2) years. Specialists suggest the formalization of contracts with a maximum duration of 2 years, since the uncertainty about the economic outlook in the coming months hinders the ability of the parties to maintain a balanced contract in the midst of such volatile economic conditions.

Frequency of Adjustments : Freedom is granted to determine how often the contract will be updated, eliminating the previous semiannual minimum. However, there may be particular cases of months, 1 year or even shorter periods.

Currency and Payment Method: Clearly establish the currency and payment method, defining the conditions to avoid misunderstandings.

Advance Payments: Whether or not to accept the possibility of advance payments, enabling the owner to demand them, is crucial and must be of mutual agreement.

Guarantees and Deposits: Define how deposits are returned and updated, even considering dollar amounts beyond the contract currency.

Condition of the Property and Renovations: It is advisable to establish in advance the state of conservation of the property post contract, promoting a transparent relationship.

Use of the Property and Pets: Explain in the contract the conditions regarding the use of the property and the presence of pets.

Insurance: Define the contracting of policies, determine who pays for public services and establish civil liability for damages to third parties, ensuring clarity in the management of the property.

It is no longer necessary to register rental agreements with the Federal Administration of Public Revenues (AFIP).