More than 60% of tenants have debts and contract terms are shortened

More than 60% of tenants have debts and contract terms are shortened
More than 60% of tenants have debts and contract terms are shortened

The Socioeconomic Report of the National Tenant Survey prepared by Grouped Tenants revealed the following points:

  • The vast majority (more than 80%) responded that the housing situation and the evolution of their salaries/income are the main reasons for concern today.
  • 42.2% of the tenants surveyed consider that tYou will have difficulties paying the rent in the coming months and 46.2% responded that they might have them.
  • What is the average rental price in CABA and Buenos Aires?



    With the data from the June survey, average values ​​for rent are observed to be 30% and up to 48% higher than in March -considering that three months passed between each survey-.

    As for the mechanism or reference index for updating the rental price, the most frequent among the responses of the tenants is the Consumer Price Index (CPI) and, secondly, the Lease Agreement Index (ICL).

    In particular, when the cases of rentals initiated before the decree are compared with those initiated later, it is observed that in the newer contracts the use of the ICL or the Casa Propia coefficient – indices that take into account salary variations – is less frequent and that The share of rentals that are updated based on the CPI or the dollar rate grew.

    Household income used to pay rent

    Currently, the share of rent expenditure plus expenses in the income of the surveyed households represents 34.4%, similar proportion to that recorded in the March survey.

    The increase in debt among tenants

    In the January report, 53.1% of respondents said they had debts of some type, while data for the month of June shows that 62% are in debt. That is, at the same time that a greater proportion of income is allocated to paying rent, the number of tenants who are in debt is also greater.

    Regarding the creditor entity or the people with whom the tenants are indebted, the results for June are similar to those of March: it stands outn first of all the credit card issuing banks, in 44.3% of cases. This is followed by indebtedness with family and friends (15.7%), bank for personal loans (15%) and platform companies such as Mercado Pago, Ualá, etc. (13.3%).

    Another important issue to highlight is that within this group of indebted tenant households31.3% do not have just one creditor, but have debts with two, three or more entities at the same timecombining credit card debts, platforms and other informal modalities, mainly relying on loans from family and/or friends.

    In this edition of the survey, a question was incorporated that asks tenants who claim to be in debt if They know the interest rate they pay. He 58.4% do not know the interest rate they pay on the debts they have contracted. In particular, those people who indicated they go into debt mainly with virtual wallets and credit platforms, with family and friends and with informal means are those who do not know the interest rate to pay.

    To the question about whether or not they were punctual in paying their debts, 38% of tenants who are in debt state that they are behind on payments.

    Source: Ambito

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