2023-07-13 23:11:00
Las main real estate chambers in the country They demanded from the ruling party an “urgent and necessary” modification of two fundamental articles of the Rental Law that are linked to the canon update and the contract extension.
The letter is addressed to the president of the Chamber of Deputies, Cecilia Moreauand bears the signature of the Business Chamber of Urban Developers (ECHR)the Association of Housing Entrepreneurs (AEV), the Real Estate Federation of the Argentine Republic (FIRA), the Foundation of Studies for Real Estate Developments (COVER) and the Argentine Real Estate Chamber (CIA).
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As explained by the business entities, the replacement of the items in question “will bring relief to the housing sector in the short term, generating an iGradual increase in the supply of housing and the drop in rental values“.
At the same time, they highlighted that it will contribute to the normalization “of the supply of rental housing units and to the stabilization of the corresponding values, minimizing the risks of fanciful calculations, which in an environment of high volatility in the value of the national currency and the long terms that extend over time impose the beginning of the locations”.
Rental Law: what are the changes proposed by the chambers
First of all, the letter proposes the reduction of the updating period of rental fees to a minimum of 4 months maintaining the formula that currently applies. That is, measured by the monthly variations in equal parts of the Consumer Price Index (CPI) and the Average Taxable Remuneration of Stable Workers (RIPTE).
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Second, they claim the shortening to 2 years of the minimum legal term to sign a new lease agreement, a regulation contained in the Rental Law which was in effect until July 1, 2020, when the current regulations were enacted.
For the signatories, “it was demonstrated that the annual update of the rental fee for housing is a very long period in an unbalanced inflationary contextwhich has generated great pressure on the initial rental value, an acceleration in prices, a retraction of the offer and a very abrupt price rise at the time of applying the updating index contemplated in the law”.
In this sense, the real estate chambers assured that the increases greater than 100% caused “dissatisfaction and patrimonial damage for both contracting parties and taking it to the limit of the impossibility of its fulfillment”.
The letter contains the signature of Alejandro Bennazar and Claudio R. Vodánovich, from the Argentine Real Estate Chamber (CIA) and the Foundation for Real Estate Development Studies (FEDI); Emilio Caravaca Pazos and Josefina Pantano, from the Real Estate Federation of the Argentine Republic (FIRA); Damian Tabakmann, president of the Business Chamber of Urban Developers (CEDU), and Carlos Spina, head of the Association of Housing Entrepreneurs (AEV).
MF / GI
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