Requirements to Rent: What the Owners Ask For

Requirements to Rent: What the Owners Ask For

Finding your place can be a task as exciting as it is difficult. Avoid dislikes and setbacks knowing the requirements that are currently demanded.

You are looking for something very important: the house or the apartment that will be your home or office for some time. The first tip: don't hurry; Look at a few options before deciding. The second: while looking for your ideal place, do not underestimate the fact of preparing all the papers that the owner or the real estate agent will ask you. The requirements to rent are usually inflexible and it is very frustrating to find a property that you like and lose it because it is loose of papers. We put together the list of what you should gather.

Requirements to rent a home

Depending on the needs of those who are looking for, rentals can be permanent or temporary. And, given this variation, the requirements, conditions and expenses are very different. Let's look at the different possibilities and their characteristics.

Requirements for permanent rental

The Tenant or Tenant must be of legal age and must present the following documentation to the Locator or owner:

Rental guarantee: it is a proprietary guarantee that is backed by possible breaches of contract. Usually, it is required to be from the same city where you want to rent. Only in a few exceptions are accepted from another city and in less frequent cases, from localities that are not in the same province. Lately, some owners accept surety insurance.

Guarantor: few real estate agents ask for it. This is a third person, preferably family, to cover the amount of the rent if the tenant does not make any payment for the duration of the contract. The same, it is not frequent, because the deposit and the guarantee are for those issues.

Salary receipt: proof of income is usually requested for the last three months. The rent paycheck is a requirement that hardly anyone negotiated.

Advance and deposit: in general, 2 months of rent are requested as a deposit, which remain in the hands of the owner and not of the real estate. In addition, the payment of the first month of advance rent is added, which does not count as a deposit.

Term: the contract period for a home is 2 years.

Real estate expenses: the fees corresponding to the real estate management must be paid.

During the first 6 months (3 in some cases), the Tenant is obliged to keep the rent. After that period has elapsed, you can terminate the contract by paying a penalty of 1 month and a half of rent within the first year of the contract and, a penalty of only 1 month, during the second year of the contract.

Foreigners: in case of being a foreigner or unable to present a rental guarantee, there are two possible alternatives:

In some cases surety insurance is taken as guarantee. Generally, the insurance policy has a cost of between 1 month and a half and 2 months of the rental value. The acceptance of insurance usually ends by defining the owner of the property and for more help please check this https://speedhome.com/

That the worker's employer company leaves as guarantor.

Requirements for temporary rental contract

For the owners, it represents the possibility of obtaining an excellent income and even charging in dollars or euros. As a disadvantage, we must consider that there are times of low demand, with few tourists, and the property can be a time without renting. An important fact is that these apartments are rented fully furnished and equipped, so their furniture and electronic devices must be kept as they were when you rented.

While, for a traditional rental of housing, the contract period is 2 years, in the case of temporary rental it can be up to 6 months maximum, without a certain minimum, although some real estate agents may impose a minimum time. These are the conditions:

In the rent for short periods, all expenses (ABL, expenses, electricity, gas, telephone, internet and weekly cleaning service) are usually included, so the agreed amount is usually greater than in the case of permanent rentals. If they are not included, they must be paid by the tenant.

The tenant must leave cash deposit as collateral. The same will be reinstated once you return the key to the property, which must be in the same conditions as it was at the time of entry. Generally this deposit is equivalent to two months of rent. The owner will refund the amount at the end of the contract, unless there are pending expenses (electricity, internet, gas and telephone), damage or cleaning on the property.

If you are a foreigner, you will surely be asked to present your passport and a credit card.

If you are in the City of Buenos Aires, among the guarantees for rent that support the lease you will not need a proprietary guarantee. It is enough to present the salary receipt.

The fees corresponding to the real estate management must also be paid.

Requirements to rent a place

To rent a place for commercial purposes, the conditions are very similar to those required for the rental contract of a permanent home. In other words, the tenant will be asked for the owner's guarantee and the salary receipt that justifies the income and demonstrates his ability to pay the agreed amount. On the other hand, you must also pay the first month in advance and the two months deposit.

Requirements to rent to direct owner

In this case, by not mediating real estate, it is likely that a verbal agreement will be reached on the price and rental conditions of the property between the tenant and the owner. In any case, the tenant must present a guarantor who owns a property, which will be credited with the photocopy of the respective deed. You must also demonstrate sufficient resources to meet the monthly rental payment.

In the same way as in the previous modalities, it is stipulated that the tenant delivers a month's deposit to cover possible damages.

Keep in mind that many times, due to inflation, it has become customary to update the rental amount every 6 months, for a percentage that varies between 12% and 14%. It can also be done annually, and in that case it is around 30%.

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