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Buenos Aires Approves New Rental Law

Legislature of the Autonomous City of Buenos Aires

Considering: That the same favor the strengthening of the policy of access to housing that is being carried out both from the Government of the Autonomous City of Buenos Aires and from the National Government for the neighbors of the City. As well as having implemented multiple initiatives related to the mortgage market, it is also considered necessary to move forward with improvements in the conditions of access and permanence to the market of locations for housing. According to data from the Annual Survey of Households of the General Directorate of Statistics and Censuses of the Ministry of Finance of the Autonomous City of Buenos Aires, 35.7% of the real estate for housing in the Autonomous City of Buenos Aires Are occupied by locational links, which means that more than one million people are tenants at the local level. That this entails the challenge of finding new ways of articulating the situation of rents for housing, and of guaranteeing the development of conditions that allow an increasing number of residents of the City to access a formal rental. That it is incumbent upon the City Legislature to regulate the framework of action of the Real Estate Brokers, a power exercised, for example, in the enactment of law 2,340, a standard created by the Unique School of Real Estate Brokers in the City of Buenos Aires. That when signing a contract, the sum of the concepts that the tenants must pay creates a barrier of access, in some cases impassable, for part of the neighbors of the City. That these projects seek to give the possibility to them, to be able to make the leap towards a better quality of life, with greater predictability, and above all things with clear rules in relation to the housing they inhabit. That in order to reduce the monetary burden that the tenants have to face at the beginning of the tenancy link, it is proposed that it is mandatory and unavoidable compliance for all those enrolled in the Single School of Real Estate Brokers the prohibition of requiring and / or receiving real estate commissions And / or fees for the intermediation to tenants, sub-shareholders and / or continuators of the location. Prohibition that in the same line, extends to the possible costs of administration of said locations.

That Law 1,251 of the C.A.B.A. Establishes the main objective of the Housing Institute of the City, placing it as the head of housing policies within the framework of Article 31 of our local Constitution, inasmuch as it proposes the incorporation in its creation rule of specific faculties related to the subject Locative-housing. For the above, this General Legislation Commission recommends the following law:

Article 1:
Replace paragraph 2 of article 11 of Law 2340 (consolidated text according to Law No. 5666), which will be written as follows: Perceive fees for the activity performed and commissions of its principal according to the remuneration they freely agree. In the case of leases of immovable property in which the tenant is a natural person, the maximum amount of the commission to be collected will be the equivalent of four with fifteen hundredths (4.15%) of the total value of the respective contract , By the landlord.-

Article 2:
Incorporate as item 7 to article 13 of Law 2340 (consolidated text According to Law No. 5666) “Prohibitions”
– The following text: In the leases of real estate with a destination in which the tenant is a natural person, it is expressly prohibited to require and / or receive, through any form of payment, real estate commissions and / or fees for brokerage or brokerage to Tenants, sub-shareholders and / or continuators of the location. The prohibition extends to the fees for administration of said locations.-

Article 3:
Replace the following text with paragraph 2 of article 10 of Law 2340 (consolidated text according to Law No. 5666) to be drafted as follows: Request reports to the official bodies on the conditions of dominance, liens and inhibitions, regarding the Operation entrusted and the intervening parties, making them available to them. The costs of managing these reports may not be required of tenants of real estate for housing purposes.

Article 4:
The following text shall be included as subsection 8 of article 10 of Law 2340 (consolidated text according to Law No. 5666): To state in any advertising offer of rental of real estate with a housing destination that is issued via websites, own or third parties, the Next caption:
“For housing rental cases, the maximum commission amount that can be
Require the owners will be the equivalent of four with fifteen hundredths percent (4.15%) of the total value of the respective contract. It is prohibited to charge real estate commissions and reporting costs to tenants, in the case ofBe physical persons. ”

Article 5:
Incorporate as subsection 9 of article 10 of Law 2340 (consolidated text according to Law 5666) Display in all premises and / or offices in which real estate brokerage services are rendered posters visible to the public with
The following legend: “It is found
It is forbidden to charge real estate commissions and reporting expenses to tenants, in the case of being natural persons. For housing rental cases, the maximum amount of commission that may be required from the owners will be the equivalent of four with fifteen hundredths (4.15%) of the total value of the
Respective contract “.

Article 6:
Derive article 54 of Law 2340 (consolidated text according to Law No. 5666) .-

Article 7:
Incorporate as paragraph i) of article 4 of Law 1251 (consolidated text according to Law No. 5666) the following text: To exercise control of compliance with local laws that regulate aspects related to the locative-housing matter.-

Article 8:
Law No. 3,588 is hereby repealed.

Article 9:
Communicate Room of the General Legislation Commission, August 16, 2017.

The four key points of the new Buenos Aires rental law in Argentina

Buenos Aire Real Estate Attorney | Argentina Real Estate Lawyer

The legislators of Buenos Aires approved this afternoon the project of reform of Law 2340 that seeks to improve access to housing through rent. The proposal prepared by the Government of the City of Buenos Aires will reach some 400,000 families that rent in the City, in addition to promoting the improvement of the system through the defense of owners and tenants.

During the parliamentary debate, which lasted approximately one and a half hours, the law obtained 51 positive votes, 0 negative and 2 abstentions. The project was presented by the president of the Housing Commission, Lia Rueda, and the president of the Civic-ARI Coalition, Paula Oliveto, and focuses on four measures:

The key points

The real estate commission will not be paid by the tenants, but by the owners. This will facilitate access to the rent, since this commission, plus the advances and costs of the move, made the tenants have to face many expenses of entrance. In this way, renters and owners will share expenses.

The real estate companies will not be able to charge for the expenses of management or administration.

The rights of tenants and landlords must be visible on Internet sites and in real estate offices. In the same way, they will be present in the social networks and sites of the Government of the City of Buenos Aires.

The City Housing Institute (IVC) will be responsible for ensuring the rights of tenants and landlords, who will work in conjunction with the City’s Ombudsman to provide free legal assistance.

Following the vote, the head of the City’s Housing Institute, Juan Maquieyra, said that work will continue to improve the rental system and to promote vacant housing to be offered for rent.

“This is a first step to make it easier, safer and cheaper to rent in the City of Buenos Aires.We estimate that with this measure, the cost of entry to rent a home is going to decrease by 25 to 30 percent, And that is going to make the tenants do not need to gather so much money to get in. In addition, we are already working on alternatives to offer real estate guarantees that conform to the owners and expedite the operation, “he said.

Are you in need of a Buenos Aire Real Estate Attorney? Contact us today to schedule a consultation.

What are the keys to the new Buenos Aires Rent Law in Argentina

Buenos Aires Real Estate Lawyer: What are the keys to the new Rent Law in Buenos Aires, Argentina

The Buenos Aires legislature approved yesterday modifications to the regime by which the real estate companies charge commissions to the tenants.

The Legislature of the City of Buenos Aires yesterday approved amendments to the Rent Law, prohibiting the charging of commissions by the real estate to the tenants.

– The most important change lies in the fact that tenants, when entering a house, should not pay the typical commission to real estate, which was usually 4.15%. From now on, that item will be in charge of the owners of the houses. From the Real Estate Professional College they warned that this money could be transferred to the monthly prices.

– The amounts that the real estate can not charge more, as of the amendment of Law 2,340, is the one corresponding to the typical administrative or management expenses.

– The conditions of the rental operations and the rights of the tenants must be visibly published on the websites of the real estate agents, as well as in their offices, so that the clients are properly informed when facing an operation Of these characteristics. The Government of the City of Buenos Aires will also be responsible for disseminating this information through social networks and websites of its dependencies.

– All these new measures and modifications in the real estate circuit will be controlled and verified by the City Housing Institute (IVC), which will be responsible for ensuring that the rights of tenants are respected.

Are you in need of a Buenos Aires Real Estate Lawyer in Argentina? Contact us today to schedule a consultation.

Argentina Real estate attorney

Buying and selling or even renting real estate property involves much more than finding someone who wants to sell or rent a property you like, pay the sale price or rent, shake hands and then move in. If it were that easy, we would have no need for an Argentina real estate lawyer.

What is Real Estate Law?

Real estate law comprises of the statutes and regulations that govern the rights and interests of stakeholders in real estate, and involves both commercial and residential properties. The law provides protection for these stakeholders who include sellers, buyers, landowners, realtors, estate brokers, developers, builders, contractors, surveyors and real estate agents. 

There are several legal issues that arise in real estate, they are: sale and purchase of properties, leasing and other transfers of properties; verifying of title to property; representation in settlement of property claims or exercising of property rights; tenancy agreement and landlord-tenant issues; property development and construction approvals; zoning, environmental issues, agriculture and land use; mortgages, foreclosures and auction; securitization of real estate investments; etc.

What Does an Argentina Real Estate Attorney Do?

Your Argentina real estate lawyer will be the one to handle the transactional aspect of your real estate involvement. The lawyer would draft all related legal documents, negotiate prices and close transaction deals.
One major reason people involve a lawyer in their real estate dealings is the investigations that would be carried out by the lawyer for the client before concluding transaction. This investigation called due diligence will include an inspection of the property to ensure the physical features are not contaminated thereby causing damage to the environment; and a review of all documents attached to the property to ensure they are in order and in compliance with relevant statutes.
Reviewing of the property’s documents will lay bare the title of the seller, and help the lawyer ascertain whether it is genuine or not. The property document review will also inform on whether there are any encumbrances on the property like mortgage, easements, liens and also tax liens.
To validate a real estate transaction, certain filings have to be made in some government agencies. Your Buenos Aires real estate lawyer will make sure all the appropriate documents are filled and necessary stamps and verification obtained.
Of course, when you get involved in a real estate dispute, your lawyer will represent you, whether in arbitration or in court. There are several instances where real estate disputes may arise such as a breach of contract, arrears in rent, foreclosure, disclosure or deposit issues, zoning compliance and boundary disputes among others.

What Can Happen Without an Argentina Real Estate Attorney?

While it isn’t mandatory to have an attorney represent you in an Argentina real estate transaction, benefits abound that would save you from little mistakes which could invalidate your real estate transaction.
Without an attorney, the other party could fail to fulfill certain obligations like making full disclosures, clearing the title of encumbrances, obtaining certain certifications and permits, keeping property safe, not diverting deposit for other illegal means and other obligations required by law.
Without a lawyer, you could become liable to fines where you unknowingly contravene relevant laws. The absence of a lawyer could increase your chances of being duped by dubious person claiming to act on behalf of a nonexistent company. Your lawyer would definitely have carried out an investigation on the genuineness of the company.
So, save yourself unnecessary headache and hire an Argentina real estate attorney to represent you. Contact us to schedule a consultation with one of our lawyers. Although there is no guarantee having a lawyer with you will totally exclude you from any litigation or dispute, however, the presence of a lawyer in your dealings would drastically mitigate the development of any annoying situation.

Argentina Debt Collection Lawyer

It’s always annoying when a creditor finds out that a debtor has suddenly become unavailable or unreachable. If this describes your current situation, then you might be in need of an Argentina debt collection lawyer.

There are however certain conditions that must be met before taking the route of getting a debt collector lawyer involved. Ensure you have explored all available means of claiming your money. Are your records and documents in order? Usually the correct order is to first send a letter, then a follow up letter (where there was no response to the initial letter, and finally a demand letter before calling on your lawyer. Failure to follow this order could hinder your successful claim to your money if matter goes to court.

What Does a Buenos Aires Debt Collection Attorney Do?

Argentina debt collection lawyer will help a creditor come up with legal strategies that will get the loaned money back. In addition, where paper work (demand letter, court processes) is involved in Buenos Aires debt collection, your lawyer will handle that for you and also represent you in court if necessary. Your lawyer will also help you choose the best option to get your money back in record time, whether through a debt collection agency or through the courts. Since some consumers and debtors have been protected from being bothered by debt collection agencies, your lawyer will help ensure you are not violating any law in that aspect.

How Do I Know If I Need an Argentina Debt Collection Attorney?

As a creditor, you will need a lawyer to if you wish to recover your money within legal grounds, especially when you begin to see any of the following signs.

  • Debtor has willingly refused to pay back loan owed.
  • Debtor is avoiding contact and evading calls.
  • Debtor is in arrears of mutually agreed upon instalmental payment plan.
  • Debtor fails to pay interest.

Your lawyer will then help you decide on the best legal option to take to recover your money.

How Much Does an Argentina Debt Collection Attorney Cost?

This depends on your attorney’s billing method. So, your pay will be according to how your attorney operates, that is if an hourly billing, a contingency fee or a flat fee. Contingency fees are usually favoured by creditors who will be getting money.
Are you in need of an Argentina debt collection attorney? Contact us today to schedule a consultation.