In this way, those who rented an apartment in May 2021 with an average value of $43,160 (average area, according to Zonaprop reference prices), will pay $66,433 in May 2022 with an increase of 53.91% based on the Lease Contract Index ( ICL) that takes into account in equal parts the monthly variations of the Consumer Price Index (CPI) and the Average Taxable Remuneration of Stable Workers (RIPTE). The ICL is published by the Central Bank of the Argentine Republic.
How the debate over the Rental Law continues
The Front of All and Together for Change agreed in the first days of April to analyze for 30 working days the reforms that must be made to the law sanctioned in 2020 due to the reduction of an offer to rent, in order to approve a new initiative in the first fortnight of May.
The first to speak was Federico Priori from Inquilinos Agrupados de Neuquén, who argued that “the one that must balance this asymmetrical relationship between tenants and owners is the State” and stated that “two models are going to be disputed here: one has to do with the intervention of the State and another that the laws of the market govern us directly”, at the same time that he pronounced himself in favor of “defending the annual adjustment and the 3-year contracts”.
For her part, the researcher Laura Ceroli, professor of Urban Planning, considered that the current law “is perfectible” and highlighted the importance of “maintain 3-year contracts, replace the updating rate with a more representative one that encompasses the entire tenant population, as well as the penalty for owners of idle homes”.
The rental law was approved by the Chamber of Deputies in November 2019 and signed into law by the Senate on June 11, 2020, in the first period of isolation due to the coronavirus pandemic.
Less than two years after its sanction and one year after its implementation, the rule created many difficulties for tenants to rent a property and the most objected issues go through the terms of the contracts that were extended to a minimum of three years.
The contract update index, based on an average between the Consumer Price Index and the average salary, also had different questions.
Source: Ambito
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