Official rental plan: who can access a 70% discount guarantee

With rental prices that shot up

in 2022 and tripled in just 24 months, entering a home or renewing a contract in the City of Buenos Aires has become very complicated.

But

is that of those tenants who do not have a family member or friend who owns them as a guarantor.

And that they must then

 to support them in the contract, at a cost that is measured in months of rent.

Some families, however, now have a way to

and pay much less, if they take advantage of an official plan that

to non-owner collateral in the City.

This is the "

" program, through which the City Government allows low- and medium-income tenants to obtain

-a valid substitute for a traditional guarantee- with a

on the price of market.

The City Housing Institute (

) had launched this initiative at the end of 2021 and in recent months expanded it with 

.

How do I have to 

to access the subsidy and what are the

?

To continue; the details.

The plan allows you to alleviate one of the main costs when moving or renewing a contract.

Photo: Telam/File.

What is surety insurance and how does it work?

Surety insurance is one of the types of guarantee contemplated in the new Rental Law 27,551, as

to the classic owner guarantee.

With this modality, an insurance company regulated by the Superintendence of Insurance of the Nation is paid so that it remains in the contract as the one in charge of

the rent, expenses and other expenses if the tenant stops doing so.

Technically, what is issued is

that obliges the company to respond to the owner for possible breaches, 

.

Surety bonds are offered directly by

and also by property search portals,

and specialized

.

In general, its cost is

of rent, an amount that can be paid in installments. 

What does the "Guarantee + Easy" plan consist of and what surety insurance does it offer?

“Today, the average renting household spends close to

on rent, much more than before.

If we add the deposit, the guarantee and the cost of moving, the initial payment becomes

", explained Christian Werle, the new holder of the IVC

"We also know -he continued- that it is impossible to resolve the underlying issue while we have

. In any case, we promote a series of programs so that residents can rent more easily and with

."

In this sense, "Guarantee + Easy" facilitates access to

70%

by

the agency, through surety insurance to choose between

.

At the beginning, the companies ACG (ex Sura, through Zonaprop), Woranz and Alba Caución were part of this program.

But then others were added: Credit and Surety;

Triumph Insurance;

and recently

, with coverage by

.

In the case of the Buenos Aires public bank, if the tenant is a client of the entity and pays the "

" with their debit card, they get an extra 15% discount, which brings the benefit of the plan to

.

In this way, as indicated to

, for a rent of

per month, with the Bank's reduction and the IVC bonus, the final price of the guarantee would be

.

Landlords always ask that a guarantor agree to pay the rent if the tenant defaults.

Photo: File.

"Guarantee + Easy" Plan: who can access the 70% subsidy and what are the requirements?

The benefit is granted to people

with an

who do not have an unfavorable financial background and who intend to rent a home to live in, located within the 

.

The tenant and his family group must have a

 of

, vital and mobile salaries.

Therefore, if the calculation is made to February 2023, together they should earn

.

As provided, the

 cannot exceed 654 Purchasing Value Units (UVA), which currently represents about

. 

In addition,

people who have been favored with

from the IVC or from the Municipal Housing Commission (CMV)

And neither are those who are in the registry of food debtors.

How to apply for the Guarantee + Easy plan?

Interested parties who meet all the requirements must enter the website vivienda.buenosaires.gob.ar, click on the "Apply" button

identify themselves through the

system .

Then, a

will appear , through which they must enter their personal data and present all the documentation related to the family group and their economic situation.

The benefit is available to individuals and family groups with income of up to 7 minimum wages.

Photo: German Garcia Adrasti.

What else must be taken into account to complete the process?

Even if it is a couple of tenants, one of them must appear as the

 and the other may join as

-owner .

To expedite the loading of the form, the IVC recommends that both have on hand the documents that

: for example, salary receipts or proof of registration to the Monotributo.

The application can fit into one of these

: home with or without children, retired or student.

And it is clarified that in these last two cases the applicant must add a

.

Is it possible to apply before knowing which home will be rented?

yes

.

Tenants "can apply to the program already knowing the house that will be rented or start the search once they apply to the program," they indicated from the IVC.

And they added: "Once the property is chosen and

by the owner, the insurer

and proceeds to issue the corresponding policy."

MDG

look too

Rents skyrocketed: how much are they asking now for a 2-room apartment in each neighborhood of the City

Sharp increase in rents: how to calculate how much you will pay from February 2023

How to get a guarantee to rent: the options with the new law, costs and risks

Rentals: after the new law, 5 key questions about the deposit and how it is returned

Rentals: what the new law says about repairs and how to act in the event of a failure or breakage in the house

Official loan for young people: how to request $1,000,000 at a low rate and with a 3-year term