Long-Term Housing

Minimum Rental Periods

The minimum rental agreement period is typically 1 year, renewable automatically unless written notice is given to cancel.

Required Documents for Signing a Lease

Typical documents required to sign a rental contract include:

• Valid ID
• Proof of employment

Leases are generally negotiated in UF (Unidad de Formento) which varies on a daily basis according to the inflation; this allows for rent readjustment to be done on a monthly basis.

Standard Security Deposit

The security deposit is equivalent to 1 months’ rent.

Local Norm for Returning the Security Deposit

The security deposit is returned after within 1 month of completion of inventory, inspection of outstanding refurbishments, and cleaning.

Outstanding payments for repairs will be deducted if necessary.

Rental Commission

Should you utilize the services of a real estate agent to help you in your search, agencies usually collect rental commission equal to 1 months’ rent + Value-Added Tax of approximately (19%).

Payment of Rental Commission

Payment of the agent’s rental commission is typically split between the tenant and landlord.

Accepted Method of Payment

Check is the preferred method of payment. Realtors prefer to receive payment locally. Most landlords will not accept payments from abroad.

 

Local Requirements

Residency Requirements

When you moving to Chile you may want or need to establish residency.  Requirements may include:

• Obtain a local ID (RUN)
• Register with the federal police

It is advisable to connect with a local expert to identify any additional requirements and support available to assist in meeting the local requirements.

 

Obtaining a Driver’s License

Requirements

Typical documentation required to obtain a driver’s license include:

• Valid driver’s license from country of origin
• Study Certificate (diploma legalized at the Chilean Consulate Apostille)
• Chilean ID Card (RUT number)
• Proof of address or rental agreement

Additional Notes

The following exams are required:

• Written exam which can be conducted in English and Spanish.

• Medical exam including vision, hearing and reflexes and must be done by a doctor assigned by the local government.

• Practice Driving Test – you must provide a vehicle with a valid tag for the driving test.

 

Opening a Bank Account

Required Documents

In order to open a bank account, you may be asked for:

• Copy of Chilean ID card
• Copy of work contract
• Employment letter or certificate
• Copy of identification page of valid passport
• Contact phone number
• Some banks may accept the Provisory RUT to open an account until final RUT is ready.

Time Required

Typically, opening a bank account can be completed immediately, depending on wait times at the bank, and that all required documents are provided.

Additional Notes

Banks require verification of credit. A bank account comes with a credit card, credit line, and Cuenta Corriente (cash on hand).