The rentals and getting an adequate price for each one are increasingly complex issues among Argentines. Furthermore, every time less offer. So, the current context is not entirely conducive to those who aim to move.
The fact of the low supply has to do with the Rental Law (27,551) and the impact it generated on the real estate field once it started to run. Since many homeowners have gone from rent to directly sell or leave the property empty.
Maure Real Estate carried out an analysis based on data obtained from the Zonaprop website and determined that the studios and the two-room apartments are the ones who present greater supply shortage, taking into account the notices published between March 2022 and the current month. In turn, in the first home, the number of units fell by 31%while in the second home, a 28%.
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Rentals in the City of Buenos Aires
For her part, the Buenos aires city account -approximately- with more than 4,000 apartments on location in various neighborhoods, including 710 are studios and 1,239 are from two rooms. Within this framework, it should be noted that more than half (70%) They are in Dollars or belong to premium segment.
At the cost level, the two-room apartments are rented between $110 thousand and $120 thousand, depending on the state of the property, its location and the amount of expenses. While the house with three rooms -in some cases- exceeds the $160 thousand.
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As of March 1, the new rent increasesfor those who renew the contract this month, which are added to a series of increases such as rates, fuel and prepaid, among others.
The update mechanism for rentals is regulated by the Rental Lawwhich establishes that the increase is made according to an average of the annual variation of the inflationwhich publishes the National Institute of Statistics and Censuses (INDEC)and the salary level of workers who make social security contributions (RIP).
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For a tenant who signed a contract in March 2022 for $50,000will renew with an increase of 89.6% YoYfor what will happen to pay $94,780 for the same unit. Compared to the renewals carried out in February, which were carried out with increases of 86%March updates are more than three upper points.
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Ignacio Petunchi
How to calculate the rental price increase?
It is necessary to enter the Website of the Central Bank of the Argentine Republic (BCRA)where the agency publishes the Leasing Contracts Index (ICL), with which the increase in rents is calculated. He ICL it’s a index that he central bank update every day. The tenant must refer to the value of the day you signed the contract (for example, February 1, 2022) and then take the value that appears in the February 1, 2023.
A simple formula should be used with these two numbers of 2022 and 2023: the start of the last update of values and in which the increase will be made.
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The formula to be applied is total rent divided by the previous year date index (February 1, 2022) and multiply it by the index of the day on which the increase will be applied (February 1, 2023, in this case). The value it returns will be the rent amount that the tenant will have to pay during all year.
Source: Ambito
