At a press conference, Javier Milei confirmed at a press conference the repeal of the Rental Law, sanctioned by Congress in 2020.
President Javier Milei announced on national television the repeal of the Rental Law. This measure is one of the 300 that will be included in the DNU that will appear in the Official Gazette this Thursday.
According to his campaign arguments, Milei advocates freedom between partiesadding the possibility of agreement on the currency in which will enter into that contract.
The rental law was sanctioned in July 2020 and from that moment generated a sharp reduction in supply, which could not be reversed after the last modifications that were made in October of this year.
This caused a skyrocketed in prices and a contraction of units offered given that the owners rejected the new three-year contract term and annual updates.
The October modification reduced the six month update period but it did not modify the duration of the contracts and the situation did not have significant changes.
What does the repeal of the Rental Law mean?
According to Grouped Tenantsthe repeal of the rental law will imply the following:
- Term: returns to 2 years of contracts
- Dollarization: it can be agreed in any currency
- Settings: it can be updated under any index (inflation, dollar, gasoline, etc.)
- Guarantee: any can be requested and the surety insurance is universalized.
- Deposit: there will be two months of deposit. It could be in dollars. They can return it 60 days after the contract ends.
- House arrangements: obligation of tenants.
- Expenses: tenants must pay ordinary and extraordinary expenses.
- Electronic address: there will no longer be the possibility of establishing a contact email between tenants and owners.
Source: Ambito
