MGNI (M. GÖTZ NEGOCIOS INMOBILIARIOS)
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© MGNI (M. Götz Negocios Inmobiliarios) This ebook was re-written during the month of April of 2025, and it contains specific information about laws on a local, state and federal level. As such, these laws may change over time. Be sure to reach out to us for any updated information, as the case may be. Us, or anybody well-versed in these matters. But preferably us. Everything written and hereby detailed in this book is the express opinion of the author coupled with laws governing real estate on a local, state, and federal level. MGNI (M. Götz Negocios Inmobiliarios) Nicaragua 6045, Palermo Hollywood Buenos Aires, Argentina www.mgotz.com © All rights reserved | 2025 © Queda hecho el depósito que marca la Ley 11.723 | 2025
To begin, briefly The short of it is, I’m an Argentine born and bred guy who did grades K through 12 at an American school in the Northern suburbs of Buenos Aires (Lincoln School). This was my very first step at growing up in a multi-cultural arena, and it became the single best tool I was given for my future, both personal and professional. I began my real estate career at the age of 19, way back in the 20th century, in 1996. A tad more about me: • Huge movie fan, so fair warning: you may see film references peppered here and there. If you name it, I probably saw it and/or can let you know who directed, wrote and starred in it. This is germane to this here book since, one such real estate deal was struck years and years ago, over dinner, later coffee, and finally beer with a client from California; and all the while comparing and contrasting episodes of Seinfeld. We are both fans and to this day can find a daily situation which borrows from that famous ‘show about nothing’. • Language nerd; speaking Spanish, English, and French; especially fond of idiom, colloquialism and puns; • Star Trek fan, so there may be Klingon jokes on occasion, too;
• I love my job and worked hard to make my company and brand grow; I feel blessed and grateful. I’m hoping it’ll show throughout this book, or if you reach out for a consultation. Why did I write this? There is so much information out there; some good, some incomplete, some faulty. I wanted to be the go-to person who would, in writing, explain real estate to the non-local crowd, and with a level of English that could a) guarantee nothing would be lost in translation and b) present itself as a fun read. • Personalized Service. We offer bespoke solutions tailored to the unique needs of each client. • Expert Local Knowledge. With over 25 years of experience in the Argentine real estate market, we have an in-depth understanding of local trends, regulations, and market dynamics. • Fluent Bilingual Communication. As an English-Spanish bilingual team, we ensure seamless communication and facilitate smooth transactions for international clients. Our ability to navigate both Argentine and international business cultures makes us an ideal partner for foreign investors and tenants.
• A Trusted Global Network. As a member of the National Association of Realtors®, we are part of an internationally-recognized network of real estate professionals. This affiliation to a vast global network ensures that we operate with the highest standards of professionalism and ethics. That’d be us. 😀
General Musings The galaxy can see planets born and destroyed over a period of billions of years. And Argentina can be all ‘Pfft, hold my beer’, as even wilder and more mercurial changes take place in shorter spans of time. When last I sat to write an iteration of this book, the general social, economic and political theater was more complex. It’s fair to say things are now a little better, as I write this on a not-quite-so brisk early Fall afternoon. Argentine President Javier Milei rolled back recent changes to the country's former laws that governed renting real estate in Argentina in general, effectively restoring it to its earlier, more market-driven framework. This reform (or roll-back) eliminates strict regulations on contract duration and price adjustments, allowing landlords and tenants greater freedom to negotiate terms. This move aligns with Milei’s broader libertarian agenda, aiming to reduce state intervention and promote a freer housing market.
Renting an Apartment Argentina’s Civil and Commerce code, along with by-laws set forth by the city of Buenos Aires, and in addition to recommendations made by the Real Estate Association of the city of Buenos Aires (CUCICBA), detail in ample and explicit fashion the what, how, and when of renting property in Buenos Aires… let’s discuss accurately and clearly where you stand, options before you, etc.
RESIDENTIAL LEASE AGREEMENTS
A.K.A. Locación tradicional residencial. This is the traditional lease agreement entered into by Argentine citizens, for those seeking to rent a property for the purposes of calling it ‘home’. Let’s call it LTR for short - I just now coined that and it sounds great. An LTR carries with it certain particulars which make it difficult for a foreigner / expat to avail himself of.
PROS
• Contracts up until recently were set up in AR$ Pesos only; but can now be created in USD, AR$, CAD, whatever currency works best for all parties… even crypto if parties agree to it. • Contracts have a two-year minimum; • Tenant does not pay a commission to the broker (per law, city decree; ergo only applicable to city of Buenos Aires; • Security deposit is paid in AR$, USD, CAD, etc, and the amount is now negotiable - one month’s worth, two months’ worth, etc.
• If you breach your contract - ie need to leave early - you no longer pay fixed amounts, which were higher. Rather now, you pay 10% of the total remainder of the contract (if you leave within the first month or two, then sure, it’d be a sizable of money, but if you had to leave well into the contract, the amount would start to dwindle).
CONS
• Tenant is required to produce some manner of collateral, referred to as garantía, which can take several forms. The most common one, the one that most owners request, is what’s called garantía real, which is the use of a third-party’s property as collateral. That way, if you as the tenant do not pay or cause damage to the unit, this third-party guarantor is liable, with his house being taken as collateral for damages caused (this is an extreme scenario, mind you). The request of this type of collateral guarantee is what makes it so difficult for foreigners to come into this manner of lease agreement. There are other methods of getting this collateral, namely what’s called ‘seguro de caución’, wherein a private entity vouches for you in the event you go delinquent on payment or otherwise do not honor the contract. Unfortunately, here again it is hard for a local company to grant such
an insurance service to foreigners, most of whom have no financial history in Argentina. • Units rented are most (if not all) of the time unfurnished, which leaves it to you to prep it with furniture, internet service, etc.
COMMERCIAL LEASE AGREEMENTS
A.K.A. Locación tradicional comercial. Very similar to what we described above, except that this is a commercial lease agreement (CLA, rolls off the tongue better, right?). Very unlikely that you, as a foreigner, would enter into it since it is for the sole purpose of using it for business.
PROS
• Contracts up until recently were set up in AR$ Pesos only; but can now be created in USD, AR$, CAD, whatever currency works best for all parties… even crypto if parties agree to it. • Contracts have a two-year minimum; • Security deposit is paid in AR$, USD, CAD, etc, and the amount is now negotiable - one month’s worth, two months’ worth, etc..
CONS
• In this scenario you do pay a commission to the broker, to the tune of 5% over the contract. • Tenant is required to produce some manner of collateral, referred to as garantía, as aforementioned.
SHORT-TERM FURNISHED / VACATION
RENTALS
Here now we are at the crux of it… these are the types of rentals you are most familiar with. Let’s shed light on some of the particulars and clear up misinformation which sometimes floats around.
PROS
• Units are furnished and more often than not come in ‘package deal’, meaning you pay rental and rental only (owner pays light, water, internet, taxes, HOAs, etc.) • Security deposit can be negotiated, but normally, you’re bound to what the owner requests be paid (you will, of course - or should, of course - get it back 100%.
CONS
• Contracts are shorter, three-months max (if letter of the law is to be followed, and therefore lend themselves to have increases by the fourth month).
There’s an exception here, also stipulated by law: contracts can in fact not fall under the purview of the minimum 2-year lease if (i) they are vacation rentals - i.e. 3 months or less - and (ii) if there is a specific reason for the lease agreement, in which case rental can be anywhere between 3 months and 23 months (just under 2 years). • Commissions are governed by local laws / stipulations and recommendation of CUCICBA, and not federal law. As such, CUCICBA has made a recommendation to brokers that anywhere between 10% and 20% over the contract may be charged for this type of agreement. Our firm charges between 5% and 10%, FYI.
Further to commissions (And who can charge them!) I’ll just chart it below, since it’s fairly easy to understand… the one thing I will mention in prosaic fashion is that, the below applies to if and only if you’re dealing with a licensed real estate professional, who is legally allowed to work that specific jurisdiction. By virtue of example: I can advertise, rent, and charge a commission over a commercial rental property in Recoleta (city of Buenos Aires) and Martínez (Province of Buenos Aires), as I’m licensed in both jurisdictions.
Rental Hacks ☺ • A great many people, I find, go at it alone and try to find a place and/or sign a contract on their lonesome. Don’t do this…. if you can, avail yourself of a licensed professional. If for whatever reason you don’t want to pay fees, commissions, or feel like you’ve had bad experiences with brokers and want nothing to do with them / us, at the very least talk to people in the same situation or visit forums to get advice, ie Facebook groups, etc. • Once you’ve rented a place and checked in, the very first thing you do is scour the place from top to bottom and check for anything which isn’t working properly, broken, or otherwise in disrepair. Many times - not all - an owner may find any excuse to keep your security deposit. • Things can often get lost in translation, and the form and method in which one speaks in one language can come across as violent or rude in another… to that end, if you have issues with your landlord or broker, try and get someone to help if you’re not well-versed in Spanish.
• I find one catches more flies with honey… many owners will want to just get their rental money and not be bothered, letting you fend for yourself if repairs need be made (which more often than not are to be taken care of by the owner)… try and be patient and take the high road when requesting these repairs, even if it’s multiple times.
Final Thoughts
It is my sincere hope that you have found this booklet useful, or at the very least a fun read. If so, perhaps we can ask a small favor of you… We're on a mission to reach our next milestone of 1,000 5-star reviews on Google, and we'd be incredibly grateful for your support! If you feel inclined, would you consider leaving us a quick review? No need to write anything unless you'd like to, just a star rating would mean a lot. The staff and I would be most grateful, if and when time permits! You can click here to leave the review. ThankYou !
About the Author
Max was born in the city of BA and raisedinthe Northern suburbs of Buenos Aires, to Argentine parents andheavily influenced by his native New Yorker grandparents and his New York-raised mother, a seasoned professor of English, later director of English departments in some of the most prestigious institutions around the BA suburbs. This, early on, imbued him of his love for all things related to the English language, and allowed him to have a foot in both the international and local culture, being able to marry them seamlessly when it came to international transactions. Max attended Universidad del Salvador (law school) but later turned his interest to real estate, attending Universidad de la Matanza. Real estate melds two things he loves: people and the piecing together of property-related deals, as they are all ‘tailor-made suits’. Each case different, every client with his or her own needs and wants. No two days at the office are the same.
Questions? Comments? Or just want to say ‘hi’? Get in touch! 📞 +54 911 5329 7248 📧 max@mgotz.com 🌐 www.mgotz.com Keep scrolling for a wealth of info, if you’re new to BA! 👇
Our picks for non-touristy locations, yet popular among locals and well worth the visit. From charming sights to underrated food spots, you’ll find plenty to do and eat without the crowds www.mgotz.com
5.) El Burladero. Uriburu 1488, Recoleta. Excellent Spanish dining. Eclectic and old-charm décor. 4.) La Cabrera. José A. Cabrera 5127, Palermo. Granted, this one’s touristy, but the meat and sides are second to none. 3.) Campo dei Fiori. Venezuela 1411, Monserrat. Italian food, pasta, and more. Try the cheese-filled gnocchi, thank me later. 2.) Los Inmortales. Lavalle 746, Downtown. Best empanadas in town. Try the chicken variety, and the cream of corn, too. Visit this location, so you can look at all the history surrounding the city. 1.) Brut Nature. Peña 2066, Recoleta. Get any type of steak (lomo monsters, lomo gandini) and make sure that for desert you order sambayon; tell the waitress you want one, to share, and she'll bring out two large cups of this warm, creamy, liquor-based mousse.
5.) Recoleta Cemetery. Corner of Vicente Lopez and Junín, Recoleta. This necropolis - a UNESCO heritage site - is host to prominent family members, military heroes, and more. 4.) Palermo Forests & Rose Gardens. Av. Libertador and Av. Sarmiento, Palermo. A green haven in the midst of the city; peaceful and with a year-round rose garden. 3.) Café Tortoni. Av. de Mayo 825, Monserrat. A staple of BA history, it’s been around since 1858, and has seen the likes of such greats as Carlos Gardel and Astor Piazzolla. Stroll down Av. De Mayo, and bask upon the Pink House and National Cathedral. 2.) Palacio Barolo. Av. de Mayo 1370, Congreso. An Italian architect, designed and erected this gothic building fashioned after Dante’s ‘Divine Comedy’. Tours available in multiple languages. 1.) Ateneo Grand Splendid. Av. Santa Fe 1860, Recoleta. A cinema-turned-bookstore, majestic to observe, and fun to enjoy if you’re a bookworm.
5. Enjoy being outside! BA has no shortage of great parks and playgrounds. Click for more 4. Museo de los Niños. Children’s museum, located within a shopping mall. Click for more 3. Tigre. Picturesque, lush riverside town known for its charming canals and vibrant markets. Click for more 2. Japanese Gardens. Gorgeous outdoor setting in Palermo, enjoyed year-round. Click for more 1. Temaikèn. Zoo and botanical gardens, with expansive and naturalistic enclosures designed to closely mimic the animals' natural habitats. Click for more