The First Bitcoin Rental Contract: Changes in Housing Rental Laws and Contracts in 2023

2024-01-11 12:13:49

Although there were already known properties whose sale was carried out in Bitcoin, this is the first time that a rental contract is effectively set in this currency as a payment method.

The Decree of Necessity and Urgency 70/2023 proposes changes that apply to all housing rental contracts

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After the repeal of the rental law Through the Decree of Necessity and Urgency (DNU) announced by Javier Milei, the first contract that was signed was carried out will pay with Bitcoin.

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The event happened in the city of Rosario. The parties involved established that the transfer equivalent to u$s100 en Bitcoin mensualmente. TThe possibility of using Tether USD o USDT.

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The transaction will be carried out through the company Fiwindwhich operates nationwide, allowing daily transfers at any time, with immediate accreditation, according to the newspaper La Capital.

Through this platform the tenant, who is real estate salesman, You must transfer the agreed amount in Bitcoin to the owner’s account every month. This type of transaction can be made any day of the week, at any time, and is credited immediately.

Although properties whose sale was finalized in Bitcoin had already been known, This is the first time that a rental contract is effectively set in this currency as a payment method.

Rental law: what are the contracts like from now on

He Decree of Necessity and Urgency 70/2023 proposes changes that apply to all home rental contracts entered into as of December 22, 2023, grant greater autonomy and flexibility to the contracting parties, but may also generate uncertainty about their consequences.

Main changes

Contract term: The term of housing rental contracts is agreed by the parties without a legal minimum. If the term is not specified in the contract, it will be two years.
Rental value adjustment: the parties can freely agree on the adjustment of the rental value using any index, public or private, in the same currency of the contract. This eliminates the obligation to use the Lease Contract Index (ICL) or the Casa Propia index.
Periodicity of adjustments: Freedom is granted to determine how often the contract will be updated, eliminating the previous semiannual minimum.
Contract currency: Contracts can be made in pesos or foreign currency, and the tenant cannot demand payment in a currency other than the agreed upon one.
Limited judicial intervention: Judges cannot modify the form of payment, the agreed currency or the stipulations of the contracts, except at the request of one of the parties and when authorized by law.
Bonds and guarantee deposits: The parties freely determine the amounts and currency of the bonds or guarantee deposits, as well as their return.
Frequency of payments: The freedom to agree on the frequency of payment is maintained, with the restriction that it not be less than monthly.
Termination of contract: The tenant can terminate the contract at any time, paying 10% of the balance of the future rental fee, or if the owner does not maintain the unit in suitable conditions. The owner can also do it, but the DNU does not establish costs for that case. It must be agreed in each contract.
Non-registration in AFIP: It is no longer necessary to register rental contracts with the Federal Public Revenue Administration (AFIP).