The offer of apartments for rent is limited, both in the City of Buenos Aires and in the suburbs, although it existed, prior to the promulgation of the new rental law, a market in pesos (excessively limited) and another in dollars (more ample). Even in the third quarter of 2023 -prior to the implementation of the new rule- the dollarized supply in CABA was 70% and 30% represented the publications in pesos made on the platform. Argenpropaccording to General Directorate of Statistics and Censuses (DGEyC) Buenos Aires
In October, Congress approved the new reform of the rental law, which prohibited the publication of advertisements in foreign currency as well as the execution of housing contracts that are not in pesos. However, such how Ámbito anticipated ithe rental real estate market is not willing to give up its profitability. Many landlords want to continue charging in dollars. Therefore, since the promulgation of the new regulation They are looking for ways to not comply with these regulations.
“A large part of the offer in dollars, since it could not be published, was withdrawn”he told this newspaper a real estate sourceand explains that this responds to the fact that many of the owners do not agree on rent in pesos discharged inflationary pressure and the new increase rate, with which many claim that they continue to lose even more than with the annual one.
In turn, since Rental portals also assured that the supply fell approximately 5% in the last monthwhich is not good for the market, which sees a decline in publications month after month.
The trap to break the restriction
Although another part of the advertisements was converted: the way it found to publish its rental properties and continue quoting them in dollars is with the mention “check the price“.
In this way, the rule of not making apartment advertisements in foreign currency is complied with, but the price in dollars is privately agreed upon..
However, this brings some cons since, since Zonaprop, They said that the ads that are published with this mention end up losing audience, since the algorithm shows them further back.
On the other hand, one of the sources consulted clarified that not all advertisements that include the mention “check price” have the value in dollars, but other owners handle it that way so as not to have to update the value in pesos repeatedly, due to he context of high inflation and economic uncertainty.
However, How are contracts made, which are also prohibited from being concluded in foreign currency? The way in which the contract for a home is carried out in order to evade the law is as “commercial locations or offices”, instead of housing, which allows a two year contract and quarterly increases agreed between the parties.
Likewise, there are “temporary” and “other destination” contracts, which are precarious, but all within the law.
Also, they commented real estate sources what are being done contracts between parties in dollars and that they are outside the law. For this reason, they stressed the importance of the owner taking into account that in the event of a possible problem, there is no law that protects him in the latter case.
Source: Ambito
