Renting housing in Uruguay: basics of the local rental market. Part 1.

The subject is truly endless, and one post cannot cover it, but we would like to begin by describing the basic features of the local rental market.

1. There are two types of rentals:

Annual and short-term. Most properties are rented for at least a year, sometimes two. Properties rented for short periods are more expensive.

2. Property is rented either “bare” or furnished.

The second category occupies a small share of the market, although it tends to grow and is, naturally, more expensive. The first category means that the rental property has walls, windows, doors, taps and plumbing; the rest depends on the case.

There may or may not be built-in wardrobes, kitchen furniture (as a rule, there is at least a base cabinet with a built-in sink), a water heater, air conditioning, or heaters (underfloor heating, electric convectors). Appliances may be present when they are built into the kitchen; this is typical of higher-end property.

3. Uruguay has no central hot-water supply or central heating.

Yet hot water is needed every day, and rooms need heating for around 4–5 months of the year. Sometimes a home has local hot-water supply and/or heating, which is very comfortable but is immediately reflected in the property’s price.

4. Most transactions are made through estate agents

• inmobiliaria, whose services consist of showing you a property and preparing the rental agreement. The cost is generally equal to one month’s rent for the property plus VAT (22%).

There is no single real-estate database in Uruguay.

5. To enter into a rental agreement, you must provide a guarantee:

5.1. Either a guarantee from one of the local financial organisations specialising in this type of service (ANDA, Porto Seguro, etc.).

5.2. Or a deposit in Uruguayan pesos equal to five months’ rent with BHU (Mortgage Bank of Uruguay).

5.3. Or a deposit in US dollars placed in an account with BROU; the deposit amount is by agreement, usually six months’ rent.

5.4. Or pledge other real estate as collateral (the least realistic condition for newcomers).

6. If you see a listing for a property that interests you:

• Write to the listed contact number, but this does not guarantee that you will be able to view the property within the next three days.

You may not get a response.

• They may reply that the property has already been rented or is no longer intended for rent.

• They may reply: “We will look for the keys now and write to you.”

Speed is not what Uruguayan estate agents are known for.

7. Pricing.

Look for at least two figures in listings:

• Monthly rent.

• Gastos comunes (common expenses).

In addition, electricity, gas, water, internet, TV and parking are paid for based on usage, but at least once a month.

8. When choosing where to live, we recommend

• studying Google Maps,

• checking available infrastructure,

• using Street View.

Even photos from two years ago will give you an understanding of the area.

9. When choosing housing, consider:

• Residential properties are classified by number of bedrooms: from studios (monoambiente) onwards.

• Besides bedrooms, an apartment/house has a living room, kitchen (separate or integrated), bathroom(s), and may have a balcony/loggia/terrace, utility terrace (terraza lavadero), patio (relaxation and barbecue area).

As a rule, neither apartments nor houses have entrance halls: the front door leads straight into the living room.

10. Not all apartments, or even all houses, have a garage/parking space.

If you plan to use a car, pay attention to:

• Whether there is parking/a garage.

• The possibility of using public parking and its security.

• The possibility of renting parking/a garage nearby.

This is the first part of a series of publications about renting housing.