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Rentals after the DNU: There are already contracts with agreements for home improvements and payment in cryptocurrencies - Infobae
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Los alquileres después del DNU: ya hay contratos con pactos de mejoras en la vivienda y pago en criptomonedas
A la luz de la desregulación empezaron a celebrarse acuerdos innovadores. En Rosario se hizo el primer acuerdo en bitcoin. Consejos a inquilinos y propietarios
www.infobae.com
January 22, 2024
Innovative agreements began to be concluded in light of deregulation. The first bitcoin agreement was made in Rosario. Advice for tenants and landlords
By José Luis Cieri
The image of a miniature house on a calculator and coins reflects the current economic reality: inflation and its impact on real estate rental prices. New contracts are currently the protagonists (Illustrative image Infobae)
The new modality derived from contractual freedom between owners and tenants allows innovative agreements, for Argentina and even worldwide. With the validity of the DNU that repealed the Rental Law, it is now possible, for example, for a tenant to agree within a period of two years to renovate the bathroom and kitchen of the home, with a certain quality of materials, in exchange for not paying the rent. in that period. Depending on the situation of each party, it may be a mutually advantageous arrangement.
The most useful thing, experts say, may be that early termination is scheduled , even at the request of the owner, something that was previously prohibited.
Mariano García Malbrán, president of the Chamber of Real Estate Services Companies (CAMESI), informed Infobae : “In the Keymex network, for example, contracts were signed in installment payments, with a two-month wait in exchange for painting the property at charge of the tenant and the possibility of sublocating all or part of the property. At this time of housing crisis, these are measures that can provide solutions, at least temporary, to people or families who cannot pay rent with all its associated costs.”
In rental properties that require repainting the interior, an agreement was established where the tenant will not pay the first four months of rent in exchange for delivering the apartment completely painted at the end of the contract. The associated costs, both materials and labor, will be assumed by the tenant.
Graffiti
If the current rental cost is $200,000 per month, during the first four months the owner will not receive income, totaling a loss of 800,000 pesos. The owner will begin to receive income from the fifth month, but in exchange, the home will have its walls in optimal conditions.The types of deregulated contracts post DNU are diverse, they can even be agreed with adjustments in how the cost of a certain product such as milk, gasoline or the Consumer Price Index (CPI) advances, salary variables, Rental Contract Index , UVA, among others.
In the context of the Law of Obligations and Contracts, the concept of obligation to give money refers to a situation in which a debtor has the responsibility to deliver to his creditor a certain amount of money, whether in national or foreign currency, in the moment in which the obligation is established.
In rentals of properties that need to be repainted, it was agreed that the tenant will not pay the first four months in exchange for completely painting the apartment at the end of the contract (Illustrative image Infobae)
Argentine legal regulations, specifically the Civil and Commercial Code of the Nation, address this concept in article 765, which establishes that the obligation to give money is configured when the debtor owes a specific amount of currency, whether determined or determinable in the moment in which the obligation is established. It is important to note that this obligation can be both in legal tender in the country and in foreign currency.
“It is relevant to mention that if, for any reason, the act in which the obligation is established establishes that a currency that is not considered legal tender in the Republic will be delivered, the obligation will be treated as an obligation to give quantities of things and The debtor may be released by complying with the equivalent in legal tender,” said Diana Sevitz , from the Training Institute (ICI) of the Argentine Real Estate Chamber.
In this sense, it is essential to keep in mind that, in accordance with the aforementioned article, the debtor can only be released from its obligation if it actually delivers the amounts committed in the currency agreed upon during the constitution of the obligation.
Sevitz clarified: “That is, the debtor is obliged to comply with the specified currency and the judges cannot modify either the form of payment or the currency agreed upon by the parties involved in the obligation.
At the appointed time and in the agreed currency
It is important to comply with the agreed currency and established obligations.
Deregulation expands the variables available to, through negotiation, reach an agreement (Illustrative image Infobae)
Regarding contracts in dollars (but not temporary), García Malbrán specified that “agreements in dollars can be registered in official dollars, considering that the current gap is smaller, or in dollar bills. In the case of payments in banknotes, there is no update, but the obligation to make the payment in foreign currency remains. On the other hand, when it comes to official dollars, they tend to use the MEP dollar, and generally, the locative value is not updated. However, with the new provisions, the owners seek to ensure payment in bills.”
The contracts in general are being closed within a period of one or two years, with updates every three or four months with an increase in the INDEC CPI.
Currently, the offer in Zonaprop has expanded to 8,300 properties on lease, 25% more than twelve months ago.
The most outstanding offer is evident in areas where temporary rentals are generally not found. Currently, options are presented in Mataderos, Parque Patricios, Parque Chas, Lugano, Villa Riachuelo, neighborhoods that, until more than 60 days ago, lacked or had a very limited offer. “In contrast, the reactivation of residential rentals in exclusive areas or with significant demand for various reasons, such as the presence of hospitals, universities or large factories, occurs more gradually,” said García Malbrán.
Rosario, pioneer in cryptocurrencies
Currently, cryptocurrencies are not only used for purchases in stores and businesses, but they also allow the payment of taxes, services such as electricity, internet, gas, monotax and, starting this year, their use is even extended to cover the payment of rents.
A rental agreement in Bitcoin was signed in Rosario, it is the first in our country
In Rosario, the first pioneering contract in bitcoins was completed through the Fiwind financial platform. The agreement establishes that a monthly payment will be made in Bitcoin equivalent to 100 USDT (Tether USD). Importantly, USDT is another cryptocurrency with a stable nature, meaning that it maintains a 1-to-1 peg with the US dollar.
Florencia Feldman, marketing leader of the platform, reported that “the rental contract has the same structure as any other agreement of this type, but includes clauses that indicate that payment will be made in bitcoin, the cryptocurrency with the highest market capitalization. The agreed amount will be equivalent to 100 USDT (Tether), a stablecoin cryptocurrency that maintains a 1 to 1 parity with the dollar. In this process, the owner directly receives bitcoins in his virtual wallet, although the amount is established in USDT as a measure to dollarize the contract and safeguard the value of the money.”
The agreement, with a duration of two years, was materialized through a written contract between the parties, but the real estate agency responsible for its completion has not been revealed.
“Apparently, this transaction was the result of a consensus between the owner and tenant, who are long-time users of the platform and have solid knowledge in carrying out operations using cryptocurrencies,” Feldman said.
In any case, the payment method is virtual, precisely through Fiwind. When converting to pesos, it is necessary to consider the price of the day on which the agreement was formalized and the day on which the tenant will make their next payment, scheduled for next February. On the date of the signing, which was recently, the value of bitcoins was trading around 100 USDT, which was equivalent to about $121,000 in the last week.
Tips to consider
Experts suggest, more emphatically than ever due to the new modalities that, in some cases, have no precedent in the country, that tenants carefully examine the documents before signing.
Specialists argue that it is crucial for owners and tenants to read the clauses carefully before signing a new rental contract (Photo: Getty)
The importance of paying special attention if the owner requests a deposit in dollars or euros is highlighted. Furthermore, the owner is advised to take appropriate advice and have any requirements he or she makes fully recorded in writing. This precaution seeks to prevent problems or confusion during the term of the contract.
Ludmila Victoria Mazzoni Amado , from the Mazzoni & Asoc. Law firm, provides advice to tenants, emphasizing the importance of remaining in the current location, staying informed about changes and fully knowing their rights.
Lack of knowledge can leave tenants vulnerable to scams or deception, underscoring the need to understand contractual clauses.
“As for possible modifications to reduce the costs of tenants when entering into a contract, as well as in which areas to work to alleviate the financial burden of those who do not own their own home, I suggest an implementation that has not yet been carried out in the province of Buenos Aires. That the real estate fees are the responsibility of the owner, aligning with practices adopted as in the city of Buenos Aires. However, the effectiveness of this measure depends on rigorous control and clear regulations to avoid ambivalent situations,” concluded Mazzoni Amado.
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