Apartment Rental Short term temporary rental - Do I have any rights?

[Nasdaq]

I've entered into a six-month lease for a furnished apartment with all transactions conducted in US dollars. Despite being on a tourist visa, the agreement lacks the formality of notarization by an Escribano. The terms are informal: one month's rent in advance, a one-month commission, and a one-month deposit.

Regrettably, the real estate agent has proven to be highly unprofessional, failing to fulfill initial commitments and currently avoiding communication. The deadline for the second month's rent payment, without accruing interest, is imminent, yet I have not been informed of the payment procedure. While we initially agreed on cash payment, the agent has not provided details on whom to pay. Attempts to seek clarification have been met with silence, despite earlier assurances of prompt communication.

I am exploring my rights as a tenant, contemplating withholding payment as a last resort to prompt the agent to address the promised issues and improve communication. It is crucial to emphasize my intention to fulfill the financial obligation, with the funds readily available. However, concerns about the agent's unprofessionalism have led me to consider the worst-case scenario, contemplating a temporary delay in payment to leverage better communication and issue resolution.

In an effort to avoid confrontation, I seek to understand my rights and the extent of my influence when addressing the agent. My preference is to reach an amicable resolution, but I am determined to be informed about my options, especially in the event that withholding payment becomes a necessary course of action. In the event of extreme circumstances, I am considering abstaining from the second month's rent and extending my stay for an additional two weeks until alternative housing arrangements can be made, with the hope of utilizing the deposited amount, given my current lack of trust in the agent's commitment to returning the deposit at the end of the contract.

 

[Betsy Ross]

How did you come across this apartment? Nevertheless, as she currently serves as your intermediary between you and the owner, you'll need to continue communicating through her for the time being. Are you aware of whether the realtor has a physical office? If you sense any discrepancies or concerns, I strongly advise reaching out to an attorney promptly to understand your rights in this situation.

 

[Flamingo]

This is what can happen when you don't do things formally.

 

[Finance Prof]

Here's my opinion. Reach out to the realtor one more time; resolving issues can be time-consuming and requires patience. Going to court can be expensive. Consider informing the realtor that you'll handle the necessary repairs and deduct the costs from the rent. Make sure to familiarize yourself with your rights, especially since the return of the deposit may be uncertain if you've committed to a 5-month lease.

Alquileres: cuáles son los derechos de los inquilinos y cómo hacer que se cumplan

Contrato, depósito, precios, expensas, gastos varios: una guía práctica sobre lo que corresponde hacer y pagar, y lo que no.

www.clarin.com

 

[Nasdaq]

I don't intend to pursue legal action; I simply wanted to understand my leverage in negotiations. If the issues persist, I'm contemplating the idea of vacating the apartment after exceeding the lease period to make use of a portion of my deposit, forfeiting the remainder.

In my recent inquiry, I conveyed my concerns in the most respectful manner, expressing my view that the lack of communication was a "falta de respeto" (lack of respect). However, the response I received was an assurance that the problem would be addressed on Friday, without any apology. Notably, this conveniently falls one day after the deadline for my rent payment without accruing interest.

 

[Betsy Ross]

Late payment incurs interest on your US dollar rental? What is the daily rate? I have never heard of this before.

Keep in mind you are a tourist and renting informally. Basically you have no rights. It's Argentina, your issue will be worked out eventually. and I wouldn't pay interest on a US dollar contract.

 

[Nasdaq]

I've been residing here for approximately 38 days since my initial payment. The payment window spans 9 days, ranging from the 30th day to the 39th day. Beyond this period, a daily interest of 1% is applied for each day of delay. Currently, I've already utilized one week's worth of my deposit, so if I extend my stay for an additional two weeks or so, I could potentially just depart.

Interestingly, this payment structure is outlined in the contract, though it was never explicitly mentioned. Surprisingly, I haven't received any reminders to make the payment. While I know the location where payment is supposed to be made, the specifics of who to pay and the exact procedure remain unclear.

Well, I wouldn't either, but ultimately, at the conclusion of the contract, I rely on them to return the full deposit. There's a concern that they might attribute interest accrual and withhold part of the deposit. The only potential strategy to circumvent this would be to withhold the last month's payment and leave on my own terms. However, I'm hesitant to adopt this approach as it could lead to a stressful situation.

The primary issue for me revolves around the evident lack of professionalism and disrespect exhibited by the real estate agent. In my years of living in Latin America, I've never encountered someone with such behavior. Over the course of one month, I've noted 15 instances where she assured me certain things would happen or that she would get in touch, yet not once has she followed through. I've had to consistently send multiple messages, despite my patience, and I refrain from messaging on weekends or repeatedly throughout the day.

Essentially, the real estate agent consistently makes promises without necessity, eroding my trust in their word. This lack of trust is the primary reason I'm considering leaving, despite the apartment itself being generally satisfactory.

 

[Under the Radar]

All of this should be specified with the lease contract you signed. Rental contracts don't need to be signed in front of a Notary. I don't recommend legal action as it will only cost you money. The judicial system doesn't really work in Argentina or too slow. Rental prices are going to keep going up. Better to be an owner vs a tenant in Buenos Aires.

 

[earlyretirement]

People really sometimes think they are saving a lot of money booking on their own or with a realtor but many times end up getting screwed. Realtors in Buenos Aires pretty much suck. There are no rules or regulations from anyone becoming a realtor. They are almost all universally bad. There are a few good ones that I have used over the years and mostly just use the same people over and over for the past 20 years but many have gotten out of the profession during COVID.

Airbnb at least always protects the client so you should try booking with them when you can. Or at least directly with a 5 Star SuperHost that is accustomed in great customer service. You can also book around Airbnb's platform. Just use Airbnb as a "pipeline". Utilize their wonderful platform to identify properties. Filter by Superhost. And then instead of "Book Property". Just scroll to the bottom and click on "Contact Host" and just put that you would love to book direct with them but avoid the Airbnb commissions and fees. In some countries like Mexico they have up to 23% VAT taxes. So booking through. Airbnb is 33% more when you factor in their 10% fee to rental guests. So many just book directly with us now. You can utilize the same strategy.

Things are going full circle now with owners just setting up their own private websites and booking direct with guests. THAT is the future of rentals. It's the 3.0 of rentals. I'd say at least 50% of my bookings are that way now. Or people will only stay 1-2 nights to check it out and then I book direct with them. They can already see I'm a 13+ year SuperHost and then they see I formally owned the largest property management company in South America and Airbnb ended up buying my company so they know they can book with peace of mind.

Technology is going to totally transform the industry. I'm working on a new start-up for Argentina in 2024 sometime I will launch it. It will eventually put Zona Prop out of business. Everyone hates those guys. It will have revolutionary software and photos, and 3D floor plans, video walk throughs, Google Street Maps. It will be amazing.

I have already done it once in the USA with a real estate start-up called fypio that is now powering Rocket Homes. For any of these URL links that are behind a paywall you can read the full stories here - https://buysellba.com/news-/-media?blogcategory=fypio

The journey from 5 person start-up to $1.5B IPO #RKT


(Jul 2014) fypio gauges lifestyle preferences to steer buyers to listings
→ http://www.inman.com/2014/07/21/fypio-gauges-lifestyle-preferences-to-steer-buyers-to-listings/


(Nov 2014) Facebook's First Employee Makes Significant Investment in Real Estate App, fypio
→ http://finance.yahoo.com/news/facebooks-first-employee-makes-significant-235010563.html


(Nov 2015) Agent Ace Acquires fypio, Rebrands as OpenHouse and Closes $13.5 Million Series A Round
→http://www.streetinsider.com/Press+Releases/Agent+Ace+Acquires+fypio,+Rebrands+as+OpenHouse+and+Closes+$13.5+Million+Series+A+Round/11091664.html


(Nov 2015) OpenHouse Lands $13.5M in Quest to Redesign Home Searches
→ http://blogs.wsj.com/venturecapital...nds-13-5m-in-quest-to-redesign-home-searches/


(Feb 2016) OpenHouse Wants To Help You Buy A House That Fits Your Lifestyle
→ http://techcrunch.com/2016/02/17/openhouse-wants-to-help-you-buy-a-house-that-fits-your-lifestyle/


(Jan 2017) Quicken Loans' In-House Realty seeks to be one-stop home buying shop with OpenHouse acquisition
→ http://www.housingwire.com/articles...p-home-buying-shop-with-openhouse-acquisition


(Sep 2018) In-House Realty rebrands as Rocket Homes, launches portal to rival Zillow
→ https://www.inman.com/2018/09/10/in...rocket-homes-launches-portal-to-rival-zillow/



(Aug 2020) Rocket Companies Celebrates its Debut as a Public Company
→ https://www.prnewswire.com/news-rel...-its-debut-as-a-public-company-301107657.html



(Feb 2022) Rocket Homes Featured in 2022 Super Bowl "Dream House" Commercial with Anna Kendrick and Barbie
→