Minimum Rental Periods
The minimum rental agreement period is 2 years.
It is recommended you submit a reservation proposal document that spells out the dates and other conditions plus 1 months rent. If it’s approved by the landlord, you’ll work towards a final version of the lease, which will be signed by you and the landlord before moving in. Landlords have been requesting 20-30% increases due to inflation so be sure second rate increases are negotiated up front and are outlined in your agreement.
Required Documents for Signing a Lease
Typical documents required to sign a lease are a valid passport and proof of employment.
Standard Security Deposit
Security deposits are typically 2 month’s rent (1 month per year).
To renew a lease, a broker fee is required by the landlord: an amount equal to 5% of the total of the lease or up to the equivalent of 2 months for rent plus VAT.
Local Norm for Returning the Security Deposit
The security deposit is returned 60 days after the contract expires, the property is returned, and once all utility bills have come in. Utility bills are deducted from the security deposit.
Should you utilize the services of a real estate agent to help you in your search, agencies usually charge 5% of 2-year lease plus the VAT. Sometimes realtors can charge 1.5 months or 2 months rent if the property is in town or if it is a short term lease. For short-term agreements, the amount is 20% and some realtors will charge the VAT.
Payment of Rental Commission
Payment of the agent’s rental commission may is paid by the tenant outside the city of Buenos Aires. Within the limits of the city, the commission is paid by landlord.
Accepted Method of Payment
Most landlords prefer payment by cash or wire transfers in Pesos or USD. If the lease is negotiated in USD, there are not annual rent increases. If the lease is negotiated in ARS, the rent increases approximately 15-20% every 6 months.
When you moving to Argentina you may want or need to establish residency. Requirements may include:
• Obtain Argentine DNI (Documento Nacional de Identidad) which can be done once a Visa is received. It takes approximately 3 months to receive the DNI. Once all the documents required are presented at the immigration offices (Migraciones), a temporary work visa will be given (Residencia Precaria). This will allow you to work and live legally in Argentina for 3 months until the DNI is received. If the application for a Visa is done in Argentina, then the Visa & DNI process can be done at the same time.
• Labor Identification Number – In order to qualify for a Labor Identification Number (CUIL – Clave Unica de Identificación Laboral) a work visa or a temporary resident visa is required.
It is advisable to connect with a local expert to identify any additional requirements and support available to assist in meeting the local requirements.
Typical documentation required to obtain a driver’s license include:
• Argentine ID number (DNI)
• A valid driver´s license from your home country
• Proof of attendance in required training courses (8 hours)
To avoid a restricted license obtain a Certificate of Legitimacy of your current driver’s license issued by your Consulate (if you’re already in Argentina) or by the External Affairs office (if you’re still in your country of residence). Documents need to be translated by an authorized translator.
A course on road safety education is required as well as a test. The test is administered in two parts: written/verbal and driving. A vision and hearing exam may be required. Medical, theory, and practice exams are compulsory. There are no reciprocity agreements except with Italy and Spain.
In order to open a bank account you may be asked for:
• A valid passport
• Certificate of residency
• Proof of domicile
• Tax & Identification number (CIL, CUIT, or CDI)
It may take up to 1 week for your account opening to be complete.
To open a savings account you must be a permanent resident in Argentina.