The possibility of the law being repealed has raised concerns among tenant groups who believe that the problem is not the law but economic policy and the lack of controls.
“It is unknown what the national government will do, although there is no doubt now that they have demonstrated a very serious inability to control compliance with the rental law. Rents are becoming dollars, there are no registered contracts, and they closed the rental area. rents from the Nation’s Ministry of Habitat,” said Gervasio Muñoz, of the National Federation of Tenants.
From the real estate side, they recognize that the novelty generated uncertainty in the market, which paralyzed operations.
This in a context in which the supply of properties for family rental was already scarce. A large part of the owners turned to temporary rentals and an important portion of the prices was dollarized.
Main points of the rental law
The minimum term of the rental contract becomes 3 years, and it is prohibited to do so for less. They can be signed for up to 20 years.
Only one month deposit is paid and it applies for three years. The deposit will have to be returned at the value of the last month of the contract.
Changes are coming in the rental law.
If for any reason (gas outage, or rain due to humidity, etc.) the home cannot be used, the tenant has the right to terminate the contract or suspend payment of the rent until the problem is resolved.
If there is any expense that the tenant does not have to pay (repairs, debts, etc.), you can deduct it with prior notice from the rental payment.
Tenants will not have to pay taxes and fees on the property (for example, ABL, rents, TSG, Aysa).
Regarding the expenses, the tenant pays the expenses of ordinary expenses that include the salary of the manager, and cleaning. Extraordinary expenses such as building repairs, or other departments, or reserve funds, are paid by the owners.
To terminate the contract when the owner is notified three months or more in advance, after at least six months of the contract, the payment of compensation does not correspond.
Refering to Contract renewal Both the tenant or owner can (within the last three months of the rental contract) summon one of the parties to establish the conditions of the next contract. The owner must notify the conditions of the contract and its renewal or not, in 15 days. If there is no response or no agreement, the tenant can end the lease without paying a penalty.
Prior to the eviction lawsuit for non-payment of rent, the owner must reliably intimidate the tenant to pay the amount owedgranting for this a period that should never be less than ten calendar days from the receipt of the summons, specifying the place of payment.
To intervene in a rental contract you have to be a registered real estate broker. Real estate fees or commissions are regulated by each province.
Guarantees, documentation and requirements
He The tenant offers the owner at least two of the following guarantees: Title of real estate; aval Banking; Surety insurance; bail guarantee; or joint guarantor; or personal guarantee of the tenant, which is documented with a salary receipt, income certificate or any other reliable means. The landlord must accept one of the guarantees proposed by the tenant.
If the landlord does not want to collect rent for any reason, the tenant can send an email requesting to accept it within 48 hours and if not, it can be legally consigned.
The owner has the obligation to register the contract (as long as it was signed as of 7/1/2020) to the Federal Administration of Public Revenues of the Nation (AFIP). The owner has 15 days to register the contract from the date he signed it. The tenant may also do so.
Rental Law: the Government annuls the rule
According to reports from Government House, after the meeting between the President and the Minister of Economy, there were several definitions. One of them, the one that aims to annul the Rental Law, in force since July 2020.
In the framework of the talks between both officials, something became clear: the controversial law that regulates rents must be changed. Although it is not yet known how and what will be the guidelines that will define the new norm to regulate rental and housing contracts throughout the country.
The DThe decision would be defined, something that for several months has been circulating in the corridors of the offices of both the Executive and Legislative Powers. Despite several attempts to change and reformulate the current law 27,551, the data is compelling: since its entry into force on July 1, 2020, the increase in rents reached almost three years, increases of 245%.
Galloping inflation, parity payments that do not exceed the increase pattern and almost no access to mortgage credit, were the variables that further enhanced the explosive panorama of owners and tenants, when defining the values of the rentals in a contract.
In the conclave, of which few details were revealed, it was agreed to cancel the controversial rental law, which sets new rules such as a three-year contract and adjustment for inflation and salary variation, in an inflationary context that equally generated complaints from tenants and owners.
Currently, the rental market has very little supply, with a demand that remains high and with prices through the roof. For example, a rent that in July 2020 paid $50,000 per month, today has a value of $122,500.
What will happen to existing contracts or new contracts?
As indicated by Mariano García Malbrán, president of the Chamber of Real Estate Services Companies (CAMESI), the suspension should detail the procedure to be followed in current contracts with the new law and those that are signed from now on with the law already suspended. .
The president of Keymex Argentina, lawyer, notary public and real estate broker explained to Ámbito that One of the possibilities will be that in the “current contracts, the recently suspended current law continues to apply, since the clauses of the lease contract were negotiated and agreed with said law.”
Meanwhile, García Malbrán estimated that in relation to the contracts that are signed from now on, “as long as a new rule is not issued, they will be governed by the old rental law. In this case, a minimum contractual term of two years and the update may be freely negotiated by the parties”.
