The study was carried out both in the Province of Buenos Aires and in the Federal Capital with very dissimilar results in some cases. An example of this is rental prices. While in the Province of Buenos Aires, rents range from $19,126 for a studio apartment to $40,147 for four rooms, in the City of Buenos Aires the amount increases by more than 30%. For example, in the Federal Capital the values start from $25,045 to $55,600.
In the Province of Buenos Aires, the tenant allocates between 30% and 50% of their income to pay the rent. In the City of Buenos Aires, it is directly 50%. In relation to the increase in the renewal of contracts, 75% of the tenants of the Federal Capital and the Province of Buenos Aires coincide in having suffered increases between 30% and 80%. 15% stated that they had increases of 100%.
One piece of information that stands out from the report is that of the 170,000 households surveyed, 14% of the tenants had to abandon their homes due to price increases. The percentage decreases in the Federal Capital, around 6%.
On the other hand, the tenants pointed out the informal nature of the contracts: 75.4% do not receive an invoice for rent payment and 26% have illegal increases every six months. In addition, most of them stated that the market does not comply with the current Rental Law (92.4%) while 97.6% believe that the State does not control compliance with the law. Finally, the report highlights that 90.9% of tenants are unaware of the area of the state that defends tenants’ rights, which shows the notable lack of information in this regard.
A recent study by Zonaprop highlighted a worrying uncertainty regarding the current rental market. While 45% maintained that it is wrong and felt harmed by the price increase, others highlight the lack of supply. This discontent motivated the national government to convene the sectors in order to analyze the current panorama and reform the current law.
In November, Sergio Massa admitted that the Rental Law “failed” and announced that the ruling party will work on a new project that “provides certainty to the owner and ends the uncertainty of the tenants.” However, there was no news about it.
Source From: Ambito
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