Chile Forum

I'm wondering about the option of giving a rental agency 12 months of post-dated cheques, as I have no-one (I really want to ask) to be aval. This seems to be an alternative commonly proposed by rental agencies in Santiago, but I can't find any information on what the implications are if you leave and cancel the contract half way through.

Is this legal and they would have to return you the cheques, or would it just be giving away money?

Or does anyone know of other options. e.g. are there any banks that will provide you with the 'aval' if you keep a certain sum in an account etc.?

My advice would be to not give anyone a postdated check at anytime in Chile. Banks dont recognize postdated checks in the same way that they do in other countries. There is nothing to stop the agency depositing all the checks right now and collecting the cash, and if they bounce, you have commited a crime. I understand your predicament and know of more than one case where the renter offered to pay the whole year rent in advance and even then, the agency wouldnt accept not having an aval.
You asked what would happen if you walked out half way thru the contract; well if they havent already deposited all your checks like I mentioned earlier, they will do so once you are gone. If you have closed your bank account and have no intention of ever coming back here then you wouldn-t have to worry, but as I said; you are taking a risk giving them postdated checks anyway.

Thanks for the info. That's very useful to know about post-dated cheques.
Looks like I've found an aval, so won't need to worry about forking out 12 months rent.