Buenos Aires condo: how much is a reliable tenant worth?

[readsAndYard]

I may be too close to this to judge clearly. Market asking rent for my Buenos Aires condo appears to be around ARS 3,669,000, versus the current ARS 3,039,000. The tenant pays reliably and takes care of the home.

I’m considering a modest adjustment rather than chasing the full asking figure and risking vacancy, turnover and refurbishment costs. How would others frame a fair review while complying with local notice rules and preserving the relationship?

 

[readsAndYard]

The gap is ARS 630,000, but I’m unsure how best to value it against retention. Would you calculate how long the higher rent must be collected to recover even a short vacancy plus any work between tenants? I’m also conscious that deposit handling and the rent discussion should remain separate and properly documented.

 

[luca.brooks]

Yes—compare the additional rent over the period you realistically expect the tenancy to continue with vacancy, refurbishment and reletting costs. A reliable payment and maintenance history has real economic value even if it does not appear in the advertised rent. I’d also ask how quickly comparable condos actually let, because an asking figure alone does not answer that.

 

[DaanGale]

I’d be careful not to let fear of turnover keep the rent permanently behind the market. ARS 630,000 is not a trivial difference. But first confirm the ARS 3,669,000 listings are genuinely comparable in condition and terms, rather than simply ambitious advertisements. Then check what the existing agreement and current Buenos Aires rules permit on timing and notice before discussing a figure.

 

[teaAndPath]

A practical route is to write down three scenarios: retaining the tenant with no change, retaining them with a smaller increase, and reletting near the advertised level after realistic vacancy and work. Include the condo’s actual maintenance history rather than assuming a full refurbishment.

Once you have that range, speak with the tenant before issuing anything formal. Explain the comparable rents and propose a supportable adjustment, while keeping the deposit and condition records out of the bargaining. Have the notice method and timing checked locally, since that part depends on the contract and rules in force.