The Limited Times

Now you can see non-English news...

City Announced New Rental Credits: What They Will Look Like


The Buenos Aires Government launched a line to cover the initial expenses of entering a home, such as the deposit and the advance.


critical rental situation

in the City, with very few available apartments and sky-high prices, became one of the main concerns of the Buenos Aires residents.

With an economy that does not help and

a Rental Law criticized by all

but that is still in force, the Buenos Aires Government presented a line of credit this Thursday so that tenants have one less obstacle when moving.

The presentation was made by the head of the Buenos Aires Government, Horacio Rodríguez Larreta, who seeks with this announcement to resume his electoral campaign agenda, after the harsh crosses that his decision to call "concurrent elections" in Buenos Aires triggered this week.

Accompanied by María Migliore, the Minister of Human Development and Habitat, María Migliore, and the First Vice President of the Legislature, Emmanuel Ferrario, Rodríguez Larreta stated that it is necessary to "repeal the Rental Law"


"it worsened the situation for the owners and the tenants”.

In this sense, he highlighted the alternatives presented by representatives of Together for Change, such as María Eugenia Vidal.

And she assured that the proposals launched by the City aim to do "everything in our power to alleviate the problem" because

"people cannot be waiting for the times of politics

. "


This is a package of short-term measures.

According to the City Housing Institute (IVC), 70% of the tenants are young people seeking to emancipate themselves from their parents and 49% are women heads of household.

With low salary levels in general, the difficulty is not only getting a payable rent, but also being able to

cover the initial expenses: deposit, month advance, moving and other points


The line of credit, which will be operational from this Thursday, can be used by anyone whose personal or family income is between 1 and 7 Minimum, Vital and Mobile Wages, who are looking for a rental whose monthly price does not exceed $145,000.

The amount of the credit should not be greater than the

equivalent of three months' rent


And it can be returned in up to three years, which is the duration of the contracts according to the Rental Law.

The IVC has calculated that to move to an apartment whose rent is $100,000,

about $400,000 is needed at the beginning

, for those income expenses.

With the loan, you'd be paying back about $11,000 per month, meaning you could spread out your initial expenses throughout the entire contract.

The indexation of the loan will be through the Salary Variation Coefficient.

This line of credit will be coupled with another that already exists in the IVC, for which up to 70% of the cost of surety insurance is discounted, a tool that serves to replace



The third tool seeks to increase, albeit marginally, the number of apartments for rent.

It is a

loan of up to one million pesos to renovate

 apartments in poor condition that could be put on the market with these arrangements.

This credit is for both the landlord and the tenant, who could take it and negotiate with the landlord to deduct it from the rent.

The fourth measure must go through the Buenos Aires Legislature.

It is a bill to


property owners who turn them over to rent for two years from the payment of ABL and Gross Income.

Today the owners pay 1.5% of what they receive from the rent for Gross Income.

The ABL, meanwhile, is around $50,000 per year.

This last measure, however, has a point against it.

To access the tax exemption,

the rental contract must be blank

, registered with the AFIP.

And the truth is that, no matter how illegal it is, currently most of the contracts are made in the dark.

"Working on access to housing has to be our priority. With this package of proposals that we put together, we are going to bring relief to many tenants and owners," explained Ferrario, promoter of the projects.

Meanwhile, the president of the IVC, Christian Werle, added that what is important "is not overregulation but the right incentives" to make renting more accessible.


look also

The Government studies suspending the Rental Law with a decree

Rentals in CABA: inflation pushes the values, which rose almost 120% in one year

Source: clarin

All news articles on 2023-04-13

You may like

News/Politics 2023-09-02T13:41:17.620Z

Trends 24h

News/Politics 2023-09-28T05:40:23.209Z
News/Politics 2023-09-27T19:00:15.711Z


© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.