The Buenos Aires head of government and presidential candidate for Together for Change, Horacio Rodriguez Larretais already in campaign mode and will make a series of announcements related to the rentals to alleviate the housing crisis in the city of Buenos Aires.
“In all neighborhood meetings, the same concern always arises: how difficult it is to find a rental due to the lack of supply and, if they find it, how difficult and expensive it is to pay for it,” said the CABA official, adding: “There is no work that reaches, there is no salary that reaches and less in this situation of inflation already completely out of control”.
For this reason, Rodríguez Larreta announced that from the Housing Institute “they worked in a proposal package to improve the situation of owners and tenants”, and proceeded to mention, among other things, three programs that facilitate access and maintenance of a rental home.
Rental Law: what could happen to current contracts if the regulations change
First, he announced the program Guarantee + easywhich discount up to 70% of surety insuranceso that it is possible to rent without owner guarantee, a contract through which compensation is guaranteed for the owner of the property in the event that the tenant fails to comply with legal or contractual obligations.
The second program presented by the Buenos Aires head of government was rent + easywhich grants financing via credit with affordable installments for an amount of up to three months of the monthly rental price with the objective of facilitate the payment of initial expensessuch as the deposit, guarantee, moving expenses and the initial month.
Finally, the third proposal of said package of measures is the Repair + easy, through which loans are granted to both owners and tenants with the aim that they can improve homes for rent and thus offer them to the market in better conditions and/or adapt it to your needs.
What about the Rental Law?
In turn, the aforementioned package of measures will be accompanied by other decisions taken from the Buenos Aires Legislature, the place from where they will seek the Expanded Gross Income Tax Exemption for Rental Agreementsraising the exemption cap from $75,000 to $220.00 on up to 3 properties.
In this sense, with the aim that more and more apartments are formally rented, those units registered with the Housing Institute will be exempt from ABL and real estate tax for a term of up to 36 months or until the end of the current contract.
“We are going to give the debate on the housing challenge of Buenos Aires, this includes a vision for the next decades, it involves all the political forces because It is an issue that transcends the current government and it must be transformed into a true State Policy,” said the Buenos Aires head of government.
The Government advances in the suspension of the Rental Law
After the lunch held on Monday, April 3, by the President of the Nation, Alberto Fernandeztogether with the Minister of Economy Sergio Massafinally defined advance in the suspension of the Rental Law.
It is worth remembering that this ccontroversial rule sets new rules as a three-year contract, adjustment for inflation and salary variation that, in a framework of inflation on the rise did not conform to either party. neither to owners nor much less to tenants.
Why does the Rental Law benefit tenants?
As confirmed by sources from the Ministry of Economy to PROFILE, the president and the head of the Treasury are studying the cancellation of the Law. However, they pointed out that at the moment there are no more details. The objective of annulling this law is to achieve a project that exceeds it, because the current one harmed both tenants and owners Throughout the national territory.
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