Rental Law: this is the update formula and the contract requested by real estate agencies - El Cronista
Source:
www.cronista.com
January 09, 2024
After the repeal of the Rental Law through the DNU signed by the president Javier Milei, uncertainty grows about how the real estate market will develop and what they will bethe regulations to which tenants must adapt.
Within the Decree of Necessity and Urgency presented by the Government, it was established that the terms and conditions at the time of signing a contract are agree in a "free" between both parties, under the regulations of the Civil and Commercial Code.
According to the latest estimates, in the first week of the year there was a year-on-year increase of 9% in housing offers. However, it still remains to be evaluated how demand will react to the new provisions proposed by the owners.
Rental prices in CABA concluded with a notable increase in 2023. Today, most studio apartments are around $ 210,000 per month, without taking into account expenses. This situation did not seem to change after the sanction of the DNU.
However, the repeal of key points of the Law modifies the offer completely, given that a duration for the contract is no longer set, nor a formula for annual increases or a currency specific for the payment of rent.
As assured by the president of the Argentine Real Estate Chamber, Iván Ginevra, to the media Infobae, "currently, each contract will be specifically adjusted to the negotiations between tenants and owners, adapting to their particular needs".
As specified by the real estate market, in recent weeks, most of the proposals were adapted to:
For the moment, it remains to know what Congress's decision will be regarding the Decree of Necessity and Urgency. Precisely, the repeal of the Rental Law was one of the few points that reached a positive majority in public opinion.
Source:
Ley de Alquileres: esta es la fórmula de actualización y el contrato que piden las inmobiliarias
A partir del Decreto de Necesidad y Urgencia (DNU) de Javier Milei, los contratos de viviendas se acordarán de forma "libre" entre las partes. ¿Cuáles son las condiciones más solicitadas?
www.cronista.com
January 09, 2024
Starting from the Decree of Necessity and Urgency (DNU) of Javier Milei, housing contracts will be agreed on a "free" Between the parts. What are the most requested conditions?
After the repeal of the Rental Law through the DNU signed by the president Javier Milei, uncertainty grows about how the real estate market will develop and what they will bethe regulations to which tenants must adapt.
Within the Decree of Necessity and Urgency presented by the Government, it was established that the terms and conditions at the time of signing a contract are agree in a "free" between both parties, under the regulations of the Civil and Commercial Code.
According to the latest estimates, in the first week of the year there was a year-on-year increase of 9% in housing offers. However, it still remains to be evaluated how demand will react to the new provisions proposed by the owners.
Rental Law: what are the durations and adjustment formulas proposed by real estate agencies
Rental prices in CABA concluded with a notable increase in 2023. Today, most studio apartments are around $ 210,000 per month, without taking into account expenses. This situation did not seem to change after the sanction of the DNU.
However, the repeal of key points of the Law modifies the offer completely, given that a duration for the contract is no longer set, nor a formula for annual increases or a currency specific for the payment of rent.
As assured by the president of the Argentine Real Estate Chamber, Iván Ginevra, to the media Infobae, "currently, each contract will be specifically adjusted to the negotiations between tenants and owners, adapting to their particular needs".
As specified by the real estate market, in recent weeks, most of the proposals were adapted to:
- Contracts with a maximum duration of 24 months and adjustments quarterly.
- The quarterly or semi-annual increases are based on the Consumer Price Index (CPI) or the Index of the Argentine Chamber of Construction (CAC).
For the moment, it remains to know what Congress's decision will be regarding the Decree of Necessity and Urgency. Precisely, the repeal of the Rental Law was one of the few points that reached a positive majority in public opinion.
